We provide a range of services
to help family lawyers provide a high level of advice and service to their matrimonial clients.
Whilst
it is the case that many solicitors, for a variety of reasons, do not often use the services of qualified IFAs and Financial
Planners during the matrimonial process there are in fact often many benefits in doing so on the basis of using the right
level of expertise at the right stages of the process.
The areas in which we can most likely add value for your
clients include;
Checking the information
This can include verifying
information provided via Forms E & P and identifying what additional information might be helpful. For example policies
potentially benefiting from future inherited estate distributions, MVR free opportunities or other guarantees that
might enhance their value, whether CETVs should be reviewed or whether indeed the correct CETV has been provided.
This service can often be cheaper than the firm trying to verify matters themselves without necessarily being clear what
they are looking for, especially on pensions. It also then moves some of the risks of error away from the firm.
Our typical charge for checking the information is £95 + vat.
Budgetting
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nHelping clients in drawing up realistic
budgets to aid their decisions and helping them understand the implications of those decisions.
Cashflow
& Wealth modelling
nPreparing Lifetime cash-flow & wealth models can often be of great benefit
to help clients appreciate their current and future situation and the impact of agreements they reach. We use state of the
art stochastic modelling software to help bring the numbers to life and enable clients to gain a greater understanding of
their financial options.
Often once clients can see the long-term viability of a solution for them they become
more likely to agree to a particular proposal.
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Tax
It goes without saying that
examining and explaining potential tax implications of any actions is important and we can assist in this process.
Pension options
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Often of course one of the most important assets after the family
home and an area of great complexity with many often obscure issues having significant impact. We are able
to examine and report on all of the available options, carry out relevant calculations and comment on relevant issues.
This could include for example examining any GAR terms, guaranteed scheme pensions or future plan values, opportunities
to avoid CETV reductions, explaining options for any resulting pension credit and so forth.
Education
Education of a client for whom running the family financial matters are a new experience or may be less
financially literate then their spouse.
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Sharing orders
We can assist your
clients in the implementation of their pension sharing orders helping you provide a complete service to them.
Implementing
a sharing order can often prove a fraught experience for clients, with delays and mistakes common, and our aim is to help
these complete as quickly and as smoothly as possible.
Single Joint Experts report
We are able to act as Single Joint Experts and provide reports for both parties and the Court either on
specific issues or options and issues as a whole.
Charges vary depending upon whether a short summary report is
required, to assist you or your client in negotiations, or the requirement is a formal CPR Part 35 report.
Typical
charges range from £250 - £425.00 + vat for the former short report to a minimum of £675.00 + vat for
a full Part 35 report.
Our reports aim to provide you both with information and, as far as possible and where relevant,
a recommended solution with structured reasoning.
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Why use our services ?
Our services to matrimonial lawyers are
handled by Simon Fisher who now has over 10 years of relevant experience, having also worked for 8 years
in a law firm with a successful family department, and holds appropriate advanced qualifications in pensions and taxation.
Simon is also Resolution accredited IFA for matrimonial and collaborative law work, one of fewer than 100 nationwide. He
is of course familar with the CPR Part 35, Best Practice Guide and Protocol for instructing Single Joint Experts and is experienced
in providing suc reports.
We are able to provide you with sample reports if required, together references
from other law firms, subject to an undertaking that these documents will not be shown or released to 3rd parties as they
are valuable precedents.
As full members of SIFA we are also able to provide fee-earners with Law Society accredited
training in relevant areas on either a group or, if appropriate, one-to-one basis as well as SIFA handbooks.
Please
contact Simon Fisher in the first instance if you would like to discuss using our services.
You can download a .pdf version of the
SIFA Pensions & Divorce handbook below.
