PROMOTION Pensions ana avorce. specialist advice is crucial In some cases pensions can be worth more than the family home, so despite the stress and emotions of divorce, it is crucial to keep a clear head and take specialist advice early. That is according to Thea Bennun, an associate in Stephens Scown LLP's family team, who has supported business owners, families with significant weath and high eamers through the divorce process schemes Special considerations DONT LOSE OUT Many people do not understand that eventualities are considered so that canalsoapply toarmed forces and pensions have a capital value that can youdont lose out financally be divided on divorce-they ussally just think ofthem as future incomePROTECTING A PENSION and they are often ignored if they ae Forsome people their peiority willbe disregarded. not yet in payment. The fact is that pensions can be shared both when they are already in payment and when this. This can include offsettingand they are yet to be drawm the process and ensure that all police pension schemes. Indeed, most occupation schemmes have soese for ofhidden benefit, which shoakd not be toprotecttheir pension, and there are many steps that can betakento do detailedconsideration ofwhen the Although specialist advice is required, particularly for high value and complex pension schemes, thewasaccrued is an important one fact that pensions are shareable at the and should not be overlooked as timec financial settlement means that you donot harve to wait until your the pension will be considereda ex has retired before accessingthat matrimonial asset and be subject to asset However, it seems that many people are unaware of this pension was accrued The issue of when a pension it may have a bearing on whether division on di voece Despite the law changing in the early 2000sto make sharing pensions Whetheryou are looking to access on divorce much easier, a prtby yourspouse's pension or prooect your pension fis Scottish Widows found pension, this is a specialist area, that pessions are only discussed inso it is crucial to take advice early about 30% of cases. SPECIALIST ADVICE feom a lawfirm wah pension sharing Anocher recent repoet, thistime from insurer Royal London, found that the average married couple hasor pension schemes that contair three times the pension wealth of the averagedivorced woman. This suggeststhat women are the ones likely to miss out after divorcing expertise Pensions with an o-shore elemens property, such as prhate schemes set up by basiness owners,areall subject tothe same pension sharing rules However, their compliexities will need careful consideration an be prudent o linvolve an actuary to A simple reason for thls could bec d i may lack ofawareness A good lawyer will be able to support you through sderthe muances of moce unusal Thea Bornrisan asocia e n retanly team at Sarrers Scown. The torn has top rarkng n both Legat 500and Chambers UK. Thea spociaises in the financial aspocts of relationship beakdown, particuary high va andd complex fnancial work and pensions 01392 210700 email solicitors@stephens-scown.co.uk or visit www.stephens-scown.co.uk