There’s lots to consider, especially if your financial accounts are jointly owned.

MoneyHelper has a lot of great guidance on where to start to get on top of your finances following a separation or divorce.

If you were married or in a civil partnership and plan to divorce or dissolve it, you may be entitled to some or all of your partner’s pension. They could also be entitled to some or all of yours too. This can only be agreed by a judge and is called a ‘Pension Sharing Order’. If you live in Scotland, there are also some pension provisions for couples in common-law relationships.

There are many options for dealing with pensions following a divorce of dissolution of a civil partnership, so it’s important to seek advice from experts before making any important decisions.

MoneyHelper has some useful information on your options

If your former partner is the nominated beneficiary of your pension upon your death and you’d like to change this, you can update this online.

It’s a good idea to nominate a beneficiary and to keep the details up to date because, in the event of your death, it means your pension savings are more likely to be passed on according to your wishes.

Register or login to update your beneficiary details

Usually, if your ex-partner was the sole appointed attorney, this will terminate when you divorce or dissolve a civil partnership. However, it’s important to check there are no clauses in the document that override this. You can also choose to remove them as your attorney before you divorce.

Ordinary Power of Attorney grants temporary control and lasts until you stop it or lose mental capacity. It’s usually used when you’re staying in hospital for a short time or you’re abroad and need someone to look after your house and finances in the UK. Lasting Power of Attorney is ongoing, remaining until you end the order or pass away. This is a legal document that allows someone to make decisions for you when you are no longer able or don’t want to. It’s really important to let us and any other financial providers know if your Power of Attorney situation changes. 

Depending on the type of pension you have, you can easily do this online. Or you can call us and we’ll get your pension details updated quickly. If you have a workplace pension you can login through your work account and update your details there.

If you’ve moved from a joint to single income, you can use the government’s benefits calculator to find out what you could be entitled to.

Find out more using the governments benefits calculators

A relationship breakdown can be difficult and disputes can happen when discussing separation arrangements. Your first priority should be your safety and the safety of any children. If you’ve experienced any physical abuse, verbal abuse or controlling behaviour, you should seek help.

Speak to a member of the National Abuse Helpline team today

Or call 999 if you are immediate danger and ask for the police – if you can’t speak, dial 55 on your mobile phone and your call will be transferred to the police.

Standard Life is part of the Phoenix Group family and we are proud that our chosen charity partner is the Samaritans. They are there to listen without judgement or pressure - 24 hours a day, 365 days a year. If you’re struggling to cope with your separation or feeling overwhelmed with money worries, contact them by phone, email or letter.

The Samaritans website