A ‘Silver Divorce’ typically involves a long marriage where adult children have flown the nest and the separation is amicable.
There is usually no need for expensive battles in the family courts as the focus is on establishing equality for both parties in terms of capital, income and pensions.
The key issues are:
- To establish the value of all the assets (in the parties’ sole and joint names), for example
- To establish each parties income from:
- Private, occupational and state and additional state pensions
- To establish the value of each party’s pension (CETV).
Once all the necessary financial information is available, it is then a matter of investigating how equality can be achieved and some of the tools we use include:
- Transfer of property
- Payment of a lump sum
- Spousal maintenance
- Pension Attachment Order
- Pension Sharing Orders
Burroughs Day will assist and advise you in ensuring that you have financial independence and security if you decide to separate or divorce in later life.