What is likely to be a divorcing couple’s most valuable asset? The family home will spring to most people’s minds first. But the value of a pension could well be the biggest single asset in the relationship.
Preparing for an independent future should a relationship break down
When disputes arise within families, emotions run high and rash decisions are made. This is why divorce is an arena fraught with acrimony. But seven in ten couples don’t consider pensions during divorce proceedings, leaving some women short-changed by £5 billion every year. Research shows that more than half of married people (56%) would fight for a fair share of any jointly owned property, and 36% would want to split their combined savings.
Divorcees twice as likely to have no savings
During a divorce, sorting out the finances is the most daunting part of a separation and divorce for most couples. Financial disputes can be a major stumbling block in the divorce process and could take longer than the divorce itself.