How are debts owed to family members dealt with in divorce proceedings?
The first question for the court to determine is whether the debts are legitimate, and this is a...
Pensions are often one of the most valuable assets and therefore the court will consider them relevant when deciding the financial settlement in divorce proceedings.
Pensions are most likely to be relevant in dividing the matrimonial assets when the marriage has been for a long period, especially when the majority of the pension has accrued during the marriage term.
A few examples of how a person’s pension can be affected in the course of divorce proceedings are as follows:
Where one party has a larger pension, this can be taken into account or “off-set” against the other parties’ matrimonial assets.
The court can order a pension attachment, which involves “ear-marking” all or part of one party’s pension for the benefit of the other spouse.
The parties may agree a ‘pension sharing’ arrangement whereby the pension can be split and the pension benefits are divided.
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