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.

What Our Clients Say...

I can look forward to retiring safe in the knowledge that I have the settlement terms I wanted...
“I was introduced to Phil O’Connor by my divorce solicitors, Stephensons. He assisted me in deciding how to approach the complex issues of my pension settlement. He provided clear and unambiguous advice and direction which enabled me to settle sooner and more cost effectively than I thought possible.
I can look forward to retiring safe in the knowledge that I have the settlement terms I wanted.”
Mrs H - Worsley

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