Case Study 6 - The Wealthy Divorcees

Background

  • Mr & Mrs B were aged 48 and 52, in good health, with two teenage children. Mr B ran a successful business from land and buildings owned by one of his pension schemes. Substantial asset base.

Concerns

  • How to provide an adequate split of the assets which enabled Mr B to continue to run his business and Mrs B received a fair settlement.
  • How to factor in the Irish pension which was not subject to UK law.

What We Did

  • Advised share needed to be 54%:46% in Mrs B’s favour rising to 58%:42% ignoring the Irish pension.
  • We advised that Mrs B needed to resign as a trustee from the pension plan to ensure Mr B had full control of his pension assets.
  • A sharing order for 100% of Mrs B’s pension was drawn up in favour of Mr B.

The Results

  • Mr B retained land and buildings within his pension and retained his business.
  • Mrs B took the bulk of the other assets.

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