Pensions in Divorce Service
We provide an easy-to-use,
cost-effective and professional service designed by
our pension specialists for both family solicitors
and their clients when they have to deal with the
pension arrangements within the total family assets.
Our service covers the whole
pension sharing process from collating and analysing
information to the provision of a report and
financial advice on the implementation of the
pension credit.
Divorce, as we all know, can be a
very stressful and life changing event for everyone
concerned, and at this most difficult of times, it
is comforting for those affected to know that a
professional service is at hand to guide them
through the many complex areas that exist within the
pensions world.
The service we offer is available to
accountants, solicitors and their clients.
The process
Ashton Hoyle Independent
Financial Advisers offers three main services
designed by our pension specialists for use by
clients, solicitors and/or accountants:
1. The standard
‘Pensions and Divorce’ report service
A standard report setting out the
value of the pension rights and a list of suggested
options for dealing with those rights. It is
prepared using neutral actuarial assumptions and is
designed to be used for joint instructions in
accordance with the practice notes, to help complete
Form E and be simple and straightforward to use.
The standard report service also
includes follow up advice and assistance. We will
contact you and discuss the findings of the report.
We will also discuss what other options might be
suited to the circumstances. We are very
experienced with the various options on pensions and
divorce and will be able to explain the report
findings and the implications for settlement in a
clear and straight forward manner.
To use this service you will need
to complete our instruction and
letter of authority forms jointly with the
other party to the proceedings. We will provide the
appropriate letter of authority to help
obtain the required information from each of the
relevant pension providers. If you have already
obtained information from the pension providers
concerned in the course of completing the Form E,
please attach this to the instruction form. We will
contact the pension providers to obtain all the
pensions information required.
If you are not in a position to
provide joint instructions you will need to obtain
details of your client's spouse's pension provision
(including details on their Additional State
Pension, i.e., SERPS / S2P) and signed authority
letters in respect of each provision.
You will receive a completed
report within 20 working days of our receipt of all
the necessary information from the pension
providers. Regular updates of the current position
are also provided.
As part of the service we will
complete an early assessment of the complexities of
the case and may possibly recommend that the
enhanced advice service would be of better value
to you and your clients.
2. The enhanced ‘Pensions
and Divorce’ report service
A more bespoke service designed
to meet the needs of clients with more complex
pension provisions. In some circumstances our
standard report will not be appropriate to your and
your client’s needs. As part of the service we will
complete an early assessment of the complexities of
the case and might recommend that the enhanced
advice service would be of better value to you and
your clients. A member of our staff will contact you
to discuss your needs and provide fee estimates.
The 'enhanced' advice service uses bespoke actuarial
assumptions, and is suitable for use either as a
joint instructed or sole instructed service. It
includes the ability to retain expert witnesses.
To use this service you will need
to complete our Instruction and Letters of
Authority forms jointly with the other party to
the proceedings. We will provide the appropriate
letter of authority to help obtain the required
information from each of the relevant pension
providers.
If you are not in a position to
provide joint instructions you will need to obtain
details of your client's spouse's pension provision
(including details on their Additional State
Pension, i.e., SERPS / S2P) and signed authority
letters in respect of each provision.
Send the forms to our office at
Ashton Hoyle Independent Financial
Advisers, Guardian House, Capricorn Park, Blakewater
Road, Blackburn BB1 5QR. Our specialists will audit
the forms on arrival and arrange to then meet you to
discuss your needs in more detail and provide fee
estimates.
You will receive a completed
report within 20 working days of our receipt of all
the necessary information from the pension
providers. Regular updates of the current position
are also provided.
As part of the service we will
complete an early assessment of the complexities of
the case and might recommend that the complete
financial advice service would be of better
value to you and your clients.
3. The complete ‘Pensions
and Divorce’ report service
This service allows solicitors to
completely hand over the complex task of obtaining,
analysing and recommending on all of the relevant
pension and non-pension arrangements. In particular,
the service covers the following:
- Initial meeting with solicitor and their
client
- Additional meeting with client and
completion of Personal Financial Summary
- Data gathering (including completion of
relevant forms) for pension and non-pension
assets
- Liaising with other professional advisers
- Analysis of all relevant financial
information (including effects of pension
simplification legislation)
- Analysis of all available options
- Determine appropriate settlement solutions
- Produce full report [including the
implications of any adjusted CETVs (where
appropriate)]
- Present detailed report to solicitor and
client
- Assist with the implementation requirements,
i.e., provide recommendations as to an
appropriate pension arrangement capable of
receiving any ‘credited’ pension funds resulting
from a pension sharing order and assist with the
completion of Form P1.
If you decide to use our
complete ‘Pensions and Divorce’ report service,
you will find that we are highly experienced with
the various options on pensions and divorce and will
be able to explain the report findings and the
implications for settlement as well as assist with
the implementation of any pension agreement or court
order.
Also, to use this service your
client will need to complete a Personal Financial
Summary so that we can ensure our advice is suitable
to your client's needs.
Forms can be obtained by
contacting our office at:
Ashton Hoyle Independent
Financial Advisers
Guardian House
Capricorn Park
Blakewater Road
Blackburn
Lancashire
BB1 5QR
If you need further assistance
please contact
Ashton Hoyle on 01254-660444 or
email
info@ashtonhoyle.co.uk
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