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When you are getting divorced there can be a temptation to deal piecemeal with the financial arrangements. This is not a good idea. Don’t agree what’s going to happen with the house, then look at endowment policies, then bank accounts, and so on. Get a comprehensive picture of what there is and what everything is
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When a couple’s financial arrangements are settled by agreement rather than by the court making the decision for them, a draft financial consent order is drafted and agreed and sent to the court for approval. The draft order has to be accompanied by a ‘statement of information for a consent order’ in which the parties’
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Before beginning to negotiate a financial settlement on divorce, it is essential to exchange full financial information and documents with your husband / wife. This is normally done by your respective solicitors putting all the papers in the post simultaneously on the same day. “But I know everything about my husband’s / wife’s financial situation” Well, possibly,
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Pension attachment has largely fallen out of favour because in most situations the receiving spouse gains greater financial security by means of a pension sharing order. With pension attachment, the income payments come to an immediate end if the receiving spouse remarries or if the paying spouse dies. With pension sharing, once the order has
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I understand that during the course of last week the Fire Service pension people announced that they were resuming normal service and supplying CETVs. They are the first of the public sector pension providers to do so. Let’s hope that the others follow suit before long.
Yes, probably, if there is going to be pension sharing. By law, a pension sharing order must be expressed as a percentage of the Cash Equivalent Transfer Value (CETV) or Cash Equivalent of Benefits (CEB – used in the case of pension already in payment). It is not possible for a lay person, which in
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When a couple get divorced, the court has the power to rearrange their pension provision. This can be done by way of a pension sharing order. The court orders the trustees of the pension scheme to take a percentage of the transfer value of the pension and give it to the other spouse. What happens next depends
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Where a residence order is in force, nobody is allowed to take the child out of the United Kingdom without the written consent of every person with parental responsibility or the permission of the court. However the person in whose favour the residence order is made is allowed to take the child out of the UK for
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It can do, mainly because there are different rules for applying for decree absolute depending on whether you are the petitioner or the respondent. Broadly speaking, the petitioner controls when the marriage is finally dissolved. If you are the petitioner, you are allowed to apply for decree absolute once six weeks and a day have elapsed since
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If your divorce is straightforward you probably won’t have to have a court hearing and everything will be done through the post. The two main exceptions are if you can’t agree over the costs of the divorce and if you can’t agree over the financial arrangements.