Dividing assets during divorce: the vital role of pensions - Marcia Mediation

Divorce is commonly regarded as one of the most stressful experiences a person can experience as an adult. While it can be a lengthy and arduous process, you can soften its impact by trying to divorce amicably. An amicable divorce is more likely to b...

Situations in which an individual may opt to offset a portion, or the entirety of their pension benefits typically emerge in cases involving younger couples, usually in their 40s.

These couples are often more concerned with their immediate financial situation rather than the long-term. These situations may include:

  1. Requires a greater portion of the former family home.
  2. Desires to retain other assets like real estate or shares.
  3. Is unwilling to relinquish their stake in a business.
  4. Simply needs immediate funds to progress forward.

These scenarios raise the significance of financial mediation. A financial mediator will collaborate closely with couples and their financial advisors to proactively explore any alternative solutions. A mediator strives to find solutions that water to both parties needs, taking care to think about children involved.

It is a mediator’s responsibility to consider pensions, as they are usually overlooked. Marcia Mediation strives to ensure separating couples seek guidance from impartial financial advisors, aiming to establish a sense of financial assurance, no matter the agreement they reach.

You can read more about financial mediation here.

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