Posts by Mary Waring
How to protect your pension share on divorce
The process for agreeing a financial settlement on divorce can go on for many months. Financial information is made available at the beginning of the divorce process, but what happens when these values change? This is particularly relevant for any stock market investment, which will cover pensions, Isa, unit trust, investment trust or bonds. There…
Read MoreCase study: Consent order on divorce
A consent order is a financial contract between the 2 divorcing parties that sets out the financial obligations arising from their marriage. The contact is legally binding and enforceable. I am working with a client who was awarded a consent order several years ago as part of her divorce negotiation which required her ex husband…
Read MoreHow to split your finances on divorce
I am working with a client at the moment who’s going through separation from her partner to calculate exactly what capital sum she needs now to cover essential expenses for her and her children. The brief details are that the couple are divorcing and the house is being sold. The house is the main asset…
Read MoreWhat happens to business assets on a divorce?
If you and your husband are divorcing and he has significant assets and money within his company, can these be taken into account as part of the financial negotiations? If you’ve heard the outcome of the recent case Petrodel v Prest you may be inclined to think that they will automatically be included. However, this…
Read MoreChanges to the state pension
With effect from April 2016 the government plans to introduce a single tier state pension of £144 per week in today’s terms. This is a significant increase on the current basic state pension of £110 per week. However, it’s not all good news. The new proposals to increase the basic state pension will be coupled…
Read MoreCan your pension savings be too large? Your pension lifetime allowance
There are a number of tax advantages available to saving into a pension. For a revision of these see Pensions: a 20% off sale. You can save as much as you like into your pension plan but there is a limit on the amount of tax relief you can receive on your contributions. To limit…
Read MoreDealing with pensions and finances on divorce
For many couples who are going through a divorce, the pension may be the 2nd biggest asset after the family home. It’s therefore vital that professional advice is taken as to what options are available for the pensions and which option is the most appropriate for you, your circumstances and your goals and priorities. I…
Read MoreIs my money safe in the bank?
In last week’s blog “How safe is the money in my bank deposit account” I looked at the Financial Services Compensation Scheme (FSCS) and how that can help depositors if their bank becomes insolvent. This blog looks more at the issue of is it a sensible option to leave a large sum of money on…
Read MoreHow I saved my client £50,000 with her divorce
Divorce can be both a stressful and costly experience. Someone going through a divorce will always recognise that they need to pay solicitor fees. However, they may feel less comfortable paying for financial advice. This may be because sometimes the financial adviser only gets involved at the end of the process and by then the…
Read MoreHow safe is the money in my bank deposit account?
Having money in your bank deposit account is safe…or is it? All UK financial institutions with a banking licence are covered by the Financial Services Compensation Scheme (FSCS), which is designed to protect your deposit if the bank were to become insolvent. The limit is £85,000 per person. So for a joint account cover of…
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