Divorce and Separation

pensionTalking about divorce or separation isn’t easy. Proceedings bring with them not only emotional stress but also financial pressure. Whilst it's very important to understand the financial ramifications of a divorce or separation, it can sometimes be highly confusing and since it carries the possibility of leaving your finances in a mess, we’d like to invite you to talk to us if you’re going through the process.

Pension Adjustment Orders

What is a Pensions Adjustment Order?

A Pensions Adjustment Order is served on the Trustees of the Pension Scheme and is binding. A Pensions Adjustment Order designates “part of the benefits which will be paid from the Scheme to a non member Spouse or person representing a dependent child”. The portion (part) of the Pension that is so designated is decided by the Courts.  

Why would you need our help?

The division of pension benefits is usually, after the family home, the largest financial asset involved in a Divorce or Separation. Therefore it's vital to ensure that you get the right financial advice on your portion of the order. There are of course the obvious concerns about ensuring, where feasible, that the proceeds are invested in accordance with your risk tolerance and financial requirements but there are also potential issues around the taxation treatment when it comes to drawing down the benefits as well as the implications of an order that involves a Defined Benefit pension scheme. 

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Financial Planning Service

We at Rockwell Financial Management are uniquely qualified to help you understand the financial factors involved in a Divorce or Separation. We can't predict your future but we can give you a clear idea of what it holds and hope this will give you confidence to move on. 

Some of the aspects we can help you think through: 

  • What will my cash flow and expenses look like after the divorce?
  • What are the short and long term effects of dividing property?
  • What kind of house will I be able to afford?
  • Will there be shortfalls that need to be covered by maintenance payments?
  • What are the different types of assets?
  • What are the tax issues when negotiating asset splits?
  • What might retirement look like, and where will I get my income in the future?

Rockwell, as your Financial Planner, will help you find the answers to these questions. We will help you visualise the future you want to have after the divorce or separation and help you achieve it.

For further information on the issue of Divorce and Separation in general, the Citizens Information Office website is a fantastic resource. 

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