Peter Jones

How to Approach the Thorny Issue of Pensions when Divorcing 

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Peter Jones
Founder
Jones Myers

Along with dwindling annuity rates and the demise of defined pension schemes, it is a fact of life that divorcees’ retirement incomes are inevitably lower than those of non-divorcees.

A further downside is that from April 6, 2016, thousands of people who divorce, remarry or form a new civil partnership can no longer use ex-spouses’ National Insurance Contributions to help increase their basic state pension.

This development makes it even more essential for separating couples to obtain sound financial advice – not only on their pension situation – but on a whole range of money, investment and insurance issues.

At Jones Myers we have a wealth of expertise in financial remedies – settling of financial matters on divorce. Our specialist team can assist in the complex area of pensions.

As pioneers of collaboration, which offers a viable and constructive alternative to going through the court system, Jones Myers highly experienced lawyers also work with other professional consultants to help both parties secure the best outcome possible.

Among these are neutral Independent Financial Advisers who provide crucial information and advice to both parties regarding pensions and financial planning generally.

This process is vital for the family’s new situation in which fundamental changes can include the extra cost of running two homes, reduced individual disposable incomes and a greater debt burden.

It is also important for couples to discuss their finances openly and honestly. The collaborative process is ideal for this as both parties agree to work through family and financial issues together.

However, when it comes to the divorce process there is no avoiding a full and frank disclosure of each partner’s finances. Neither party can put their head in the sand, nor should they believe that they can squirrel away assets.

Financial disclosure is designed to protect both parties and to ensure that each receives a fair settlement in the circumstances of that particular family, and which may well include an equitable split of pension benefits.

Clients who have resolved issues with their partners through collaboration say it brings wide-ranging benefits which include feeling more in control over their future and improved levels of communication with their ex-spouses. Agreements are reached more quickly and creatively, but far less confrontationally, than awards imposed within the court process.

For more information about financial planning or any aspect of divorce or family law call our team of experts at Jones Myers on 0113 246 0055 or tweet us on @helpwithdivorce

About Peter Jones 

Peter Jones is one of the country’s leading divorce and family lawyers. A qualified arbitrator and mediator, Peter set up Jones Myers as the first niche family law firm in the north of England in 1992 and has acted for a string of high-profile clients.

Renowned for his sympathetic approach, he is a former national chairman of Resolution, a former Deputy District Judge – and instigated the D5 Group of law firms that promotes excellence in family law.

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Energy Trader’s Divorce Reignites Debate Over Fair Settlements

Energy Trader’s Divorce Reignites Debate over Fair Settlements

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Peter Jones
Founder
Jones Myers Family Solicitors

The case of a successful energy trader – who is appealing against a High Court decision to award almost half of her £7m fortune to her adulterous ex-husband – is sparking concerns among divorcing couples.

The outcome of Julie Sharp’s Civil Appeal Court plea for a “fair divorce settlement” following the judgement to allocate Robin Sharp almost £3m after a marriage lasting just four years – is awaited with interest.

This case is a stark reminder that the rules of maintenance and capital distribution take no account of fault and apply to the main breadwinner – irrespective of the fact that the divorce was apparently prompted by her former husband embarking on a new relationship while they were married.

It also illustrates that conduct and gender are not factors in a court’s decision, which is made after appraising a couple’s joint assets and deciding how they should be divided whether by sharing equally, or with some other adjustment to meet the reasonable needs of both.

Costly, distressing and, in this case, high-profile courtroom battles over settlements can be avoided with Arbitration; which allows couples to reach a divorce settlement without the trauma of the courts. The sessions are held in private, which means that journalists cannot report the details of the divorce or settlement.

The hearings, which are arranged at clients’ convenience, and at comfortable venues, see the arbitrator determine who should have what. Similar to a judge, they collect relevant facts and evidence and base their decision on this evidence – taking into account the views of both parties. The Award is final and binding in both parties.

Arbitrators are not only qualified in their process – they are also experienced family lawyers who are either former judges or family law barristers or solicitors.

Two other ways to avoid confrontation and discord are pre-nups and post-nups. A pre-nup agreement – which is drawn up between couples before marrying – sets out how their assets will be split if the marriage fails. Although not legally binding, a carefully thought through agreement, drawn up with independent advice, is quite likely to be upheld by a court.

They are also more likely to be accepted by a divorce judge if they were agreed well in advance of a marriage – and if there is no implication that one party was coerced into signing.

Post-nups are entered into after marriage; with the same aim as a pre-nup should a court decision have to be made. They are often made by couples in a second marriage who are seeking to protect children of previous relationships, or by those who wanted a pre-nup but didn’t have time, or or for some other reason felt it inappropriate, to arrange one prior to the marriage.

For both pre-nup and post-nup agreement to carry their full weight, both parties must enter into them of their own free will, without undue influence or pressure – and be fully informed of their implications.

Legal advice and disclosure are desirable, but what matters is that both parties are fully aware of the implications and have the information necessary to make an informed decision.

About Peter Jones 

Peter Jones is one of the country’s leading divorce and family lawyers. A qualified arbitrator and mediator, Peter set up Jones Myers as the first niche family law firm in the north of England in 1992 and has acted for a string of high-profile clients.

Renowned for his sympathetic approach, he is a former national chairman of Resolution, a former Deputy District Judge – and instigated the D5 Group of law firms that promotes excellence in family law.

 

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‘Brangelina’ Split and How to Guarantee Privacy During your Divorce Process

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Peter Jones Founder Jones Myers
Peter Jones
Founder
Jones Myers

The media frenzy continues a week after Angelina Jolie filed for divorce from Brad Pitt with every aspect of their lives – and the lives of their children – continuing to be played out in front of millions of people worldwide.

However, irrespective of whether you are Hollywood’s most “golden” couple, divorcing through the courts comes with no guarantee of privacy – as some of the hearings are open to the public and journalists can attend and report details of the proceedings.

They may do so if there is a salacious element, perceived wealth, or accusations of attempts to hide assets – which can be embarrassing and distressing for the couple, as well as their children, parents or business partners.

Our specialist family lawyers advise of three less public routes, outlined below, to take when marriages break down.

Arbitration is a quicker, less emotionally and financially draining alternative to court battles. The press is barred from hearings, which are arranged at clients’ convenience, at comfortable venues, where a family arbitrator rules on who should have what.

Just like a judge, the arbitrator bases his or her decision on relevant facts and evidence – taking into account the views of both parties. The award is final and binding on both parties. Arbitrators are not only qualified in their field – they are also experienced family lawyers who are either former judges or family law barristers or solicitors.

Mediation is also an effective and private way of resolving disputes without the need to go to court. It involves an independent third party – a mediator – who helps both sides come to an agreement.

It is a highly effective method which can result in a swift resolution and save on legal expenses.

Couples often use mediation as a way to explore and discuss issues between them, with the assistance and guidance of an impartial mediator. Because many issues are resolved during mediation, they often find that they save a great deal in legal costs by opting for mediation first.

Collaboration sees couples each appoint their own collaboratively trained lawyer. They meet to work things out and are backed up by support and legal advice. All sign a contract committing them to trying to resolve matters by agreement, without going to court.

The lawyers will agree only to represent the parties within the collaborative process and not in court. This ensures that everyone at the table, not just the divorcing spouses but also their legal representatives are committed to finding an out-of-court solution.

Collaboration places an emphasis on a respectful and dignified resolution, putting any children at the heart of the process, and keeping the details private and confidential.

Divorcing couples who value their privacy are advised to consider these options which are also more cost effective, less traumatic and less prolonged than litigating.

About Peter Jones 

Peter Jones is one of the country’s leading divorce and family lawyers.

A qualified arbitrator and mediator, Peter set up Jones Myers as the first niche family law firm in the north of England in 1992 and has acted for a string of high-profile clients.

Renowned for his sympathetic approach, he is a former national chairman of Resolution, a former Deputy District Judge – and instigated the D5 Group of law firms that promotes excellence in family law.

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Business when going through Divorce

Protecting your Family Business when going through Divorce

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Peter Jones Founder Jones Myers
Peter Jones
Founder
Jones Myers

The trauma of divorce, which impacts on separating couples, their children, and their wider family and friends, can be further exacerbated when a business is involved.

Many business owners with failed marriages have found themselves losing an organisation they have worked long and hard to build over decades, to their ex.

With UK family businesses employing over nine million people and accounting for a quarter of the UK’s GDP, according to the most recent statistics from the Institute for Family Business, safeguarding the family company is also critical when a divorce or separation becomes inevitable between husband and wife business partners.

Such cases, when husband and wife teams own joint shareholdings as “co-preneurs”, and are both seeking to retain their stake in the company, are the most difficult to resolve.

Many couples also employ their children in the family business – increasing the importance of a smooth transition to safeguard their sons’ and daughters’ respective roles.

In a divorce, a company is regarded as a matrimonial asset, to be sold or shared like any other. It is therefore vital for a couple in business together to secure sound legal advice before marrying, so that a pre-nuptial agreement can be drawn up. If already married, it is worth considering a post-nuptial if you failed to sign a pre-nup – or to protect any new business ventures.

Although pre-nups and post-nups are not legally binding, courts do take them into account and they can make the whole divorce process run more smoothly. However, despite their advantages, they will not prevent your business from coming under close scrutiny. How much is it worth? What income can it produce – now and in the future, when assets are divided? Should it be producing more?

Judges will often examine a business’ liquidity and how this might be paid out to the wider family to meet costs such as accommodation. Although problematic if you planned to use that liquidity as the seed corn for a future start-up, you must not hide any assets.

Collaborative law can be the most constructive, cost-effective and least painful approach to finding a financial solution when both partners are involved in a family business – and can also lessen impact on the company.

It sees a couple and their lawyers working together on problems face-to-face, with additional professional advisers such as accountants on hand when necessary. It aims to resolve matters amicably and without the case going to court.

Talking about the future of your business, and who will run it, in a calm and supportive atmosphere is infinitely preferable to the hostility and acrimony of a courtroom battle – and can protect enterprises by avoiding the distress and distraction that can derail a company.

About Peter

Peter Jones is one of the country’s leading and most sought-after divorce and family lawyers, and one of only four qualified arbitrators in Yorkshire.

A former Deputy District Judge for 15 years, he set up the first niche family law firm in the north of England in 1992 – Jones Myers – and has acted for a string of high-profile clients.

Renowned for his sympathetic approach, he is a former national chairman of Resolution (formerly the Solicitors Family Law Association) – an organisation of over 6,500 family lawyers who are committed to the constructive resolution of family disputes.

Leeds and Essex based Jones Myers, consistently top-rated Yorkshire family law firm by Chambers and the Legal 500 Legal Guides, has been one of the pioneers of collaborative family law – known as the ‘pain-free way to divorce’ – which advocates a more amicable, and often speedier, route to divorce, without resorting to the courts.

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Prenups – Seven Pertinent Questions to Pop

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Peter Jones Partner Jones Myers
Peter Jones
Partner
Jones Myers

As the euphoric flurry of Valentine’s Day proposals starts to diminish, engaged couples would be wise to consider taking out pre-nups – particularly if they have tied the knot before.

The importance of planning such agreements is also timely following a recent survey which revealed that one in ten married Brits regret not insisting that their husband or wife signed a pre-nuptial agreement.

It may seem unromantic, but a frank talk about financial provisions before tying the knot could help prevent heartbreak in the long term.

Disagreements about money are one of the major causes of bitterness, uncertainty, anxiety and cost arising from marital breakdown marital breakdown. It is far better to have agreed how to split your assets and to have drawn up a prenuptial agreement before you say ‘I do’.

Prenups are on the increase, and are particularly popular with couples marrying for a second time. Here are answers to seven of the most commonly asked questions:

I’m not super rich – is a prenup right for me?

While it’s true that pre-nuptial agreements were once regarded as the preserve of the wealthy, people with more modest incomes are increasingly seeking advice because they understand the benefits of setting one in place.

If you want to ensure that your finances, house and other assets are shared fairly on divorce then a prenup is for you.

prenupsWhy do people opt for a prenup?

For all kinds of reasons. They may be marrying for a second time and want to preserve certain assets for their children from previous relationships. They may likewise want to ensure that children from this second marriage will be treated fairly if the relationship breaks down.

Some people seek to protect inherited wealth or savings built up before the marriage.

Does a premarital agreement mean I can hide money from my fiancée?

It must be stressed that trying to hide assets is never acceptable. All engaged people should have full and frank discussions with their partners about finances before they sign a pre-nuptial arrangement.

Prenups can help protect every asset you own – you can also ring fence as much or as little as you like. If you haven’t been open and transparent when you signed the agreement, then a court could throw it out should you and your partner divorce.

Are prenups legally binding?

They are not currently legally binding in England and Wales, although the law may change. However, a carefully thought through agreement, drawn up with independent advice, is quite likely to be upheld by a court. Prenups are also more likely to be accepted by a divorce judge if they were agreed well in advance of a marriage – and if there is no implication that one party was coerced into signing.

I’m remarrying and my fiancée and I both have children – do we need a premarital arrangement?

Most definitely. The hope is that you and your partner have a long and lasting marriage, however when you both have children it would be sensible to ensure that they are provided for if you do divorce.

Failure to do this could result in your children from your first marriage receiving nothing. This is because your assets could automatically default to your most recent wife and to any children you have together. As your fiancée has children too, it is most certainly in their interests to draw up a prenup.

When should I draw up such an arrangement?

The sooner the better – and at least 21 days before the wedding if you want to ensure that the prenup is as watertight as possible. The difficulties encountered with pre-nup agreements are that judges remain concerned when the agreements are signed under pressure. There is little time to reflect or be confident about the terms and judges may ignore or vary them.

How do I find out more?

You should contact a collaborative law firm – have a look at Resolution for lawyers in your area.

Your lawyer will encourage you and your partner to look at your finances and to consider how your married lives might pan out – for example, if you have children and one of you gives up work. Good planning and being well informed are key to a robust prenup.

 

Peter Jones is one of the country’s leading and most sought-after divorce and family lawyers, and one of only four qualified arbitrators in Yorkshire.

A former Deputy District Judge for 15 years, he set up the first niche family law firm in the north of England in 1992 – Jones Myers – and has acted for a string of high-profile clients.

Renowned for his sympathetic approach, he is a former national chairman of Resolution (formerly the Solicitors Family Law Association) – an organisation of over 6,500 family lawyers who are committed to the constructive resolution of family disputes.

Leeds and Essex based Jones Myers, consistently top-rated Yorkshire family law firm by Chambers and the Legal 500 Legal Guides, has been one of the pioneers of collaborative family law – known as the ‘pain-free way to divorce’ – which advocates a more amicable, and often speedier, route to divorce, without resorting to the courts.

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