Swindon's OLS Solicitors have reacted to recent studies from both Divorce-Online and Weightmans Solicitors.
These studies highlight the need for divorcing couples to prioritise understanding their pension assets during proceedings.
Pensions are often one of the most valuable assets in a marriage, yet they are frequently underestimated.
The research findings, OLS says, reveal that Swindon's high ranking in divorce filings emphasises the importance of considering pensions when considering divorce.
Many couples are now opting for DIY divorce, but fail to adequately address their finances, as revealed by recent research from Aviva.
It is crucial for divorcing couples in Swindon and beyond to act to ensure a complete understanding of their financial landscape, including pension assets. This approach not only safeguards their financial wellbeing, but also ensures that any agreement reached is fair and capable of being accepted by a court.
Pension assets can have significant value during a marriage and underestimating them during divorce proceedings can lead to unfavourable outcomes. Couples often fail to correctly value pensions or offset them against equity in property, resulting in individuals coming away with less than they are entitled to.
The consequences of underestimating pension assets during divorce can be particularly detrimental, especially for women. Poor outcomes in retirement may arise from not receiving a fair share of pension assets.
It is essential for divorcing couples to seek legal advice early and gather all the necessary financial information to avoid such pitfalls.
"Pensions are often one of the most valuable assets in a marriage, yet they are frequently underestimated during divorce proceedings," said Lucy Batstone, a family lawyer with OLS.
"It's imperative for individuals going through a divorce to obtain comprehensive legal advice to ensure all assets, especially pensions, are fairly considered."
OLS Solicitors in Swindon are available to provide guidance and support to couples navigating the complexities of divorce, ensuring that financial assets, including pensions, are distributed fairly and offer lower fees than established solicitors firms in the area.
“We urge anyone going through a divorce to seek expert advice to protect their financial interests and secure their futures," Lucy Batstone added.
"Our team is dedicated to providing the necessary support and expertise to navigate these challenging times with confidence."
For more information or to schedule a consultation, people can contact OLS Solicitors on 01793 676278 or visit https://www.ols-solicitors.co.uk
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