🚨 Attention, divorcing couples! Don’t overlook this crucial asset! 🚨
Ending a marriage is tough, both emotionally and financially. While you’re sorting out who gets what, don’t forget about pensions! They’re a key financial asset, especially for women who may have taken a career break to raise children. Focusing only on immediate assets like cash can leave you short in the long run.
Big news — the government has rolled out new reforms to improve pensions for millions of working women, which is fantastic. But remember, when dividing assets during a divorce, it’s crucial to consider those pension pots. Ignoring them could cost you big time!
Natasha Grande, a legal expert at G&G Law, warns that both clients and lawyers sometimes dismiss pensions, focusing instead on other assets. Historically, men often have more significant pension pots due to uninterrupted careers, leaving women at a disadvantage.
Since the advent of pension sharing laws in 2000, there’s been progress, but many still miss out because they don’t consult experts. A good pension actuary and a financial adviser can make a world of difference — they ensure you’re not leaving money on the table. 💼
So, if you’re navigating a separation, remember: pensions aren’t just the earner’s personal property. They’re part of your shared financial future. Get the right advice, involve experts, and plan wisely to ensure a fair settlement for everyone involved! 🏦
Questions or insights on this? Let’s chat in the comments! 👇