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...

Phil is knowledgeable, efficient, pleasant...
“Navigating the intricacies of the pension system during divorce is daunting, but I found the service offered by Phil O’Connor and his team to be exemplary. Phil is knowledgeable, efficient, pleasant and seems really interested in the individual client. Everything proceeded in just the way he had outlined, and what could have been a trying process, was remarkably easy.

I’m not sure that I was either able or willing to undertake the remarkable amounts of paperwork involved in pension sharing, but all of it was handled professional and efficiently on my behalf.

Most of the time, I just had to sign on the dotted line. I wholeheartedly recommend Whitewell Financial Planning Ltd as an invaluable resource for anyone needing assistance with financial planning.”
Mrs Manford

Do You Have A Question Related To This Case Study?

Use the form below to ask me anything about this case study. I promise that anything you say will be 100% confidential.

  • Some of our Accreditations & Awards

  • signature-infusion-logos.jpg