When it comes to a divorce, one of the biggest assets is often a pension. Since 1st December 2000, the court can grant a pension sharing order against either party giving shared rights to the pension through a legal arrangement.

But what is a Pension Sharing Order (PSO) and how can it affect you? Let’s take a look:

The Pension Sharing Order Process

If a marriage has come to an end and one partner is left without a pension entitlement, then a PSO distributes the assets that are held within an existing pension. Pension Sharing Orders allow a clean break between parties and make the need to start a new pension redundant.

As part of a divorce process, assets within a marriage are assessed and divided between the couple. Pension Sharing Orders mean that these assets also include the monetary value of any pensions – this allows for one party to get a percentage of the total value of the other person’s pension in the split.

Instead of earmarking this money for retirement, the pension is split using pension credit which can be transferred into an existing pension, a new pension or an extra pension in an existing scheme. More...

A new law for landlords and letting agents is being introduced today in an attempt to raise standards in the private rented sector in Wales.

The Housing (Wales) Act 2014 Part 1 requires all landlords and letting agents to become registered and licenced over the next 12 months.

This new legislation replaces the existing voluntary Landlord Accreditation Wales scheme.

What are the aims of this new legislation?

‘Educating Welsh landlords and agents to improve private renting for all.’ More...

Divorce is a tricky business and it can be made even more complicated when a family business is involved. There are many ways that this situation can be sorted out, depending on a number of factors, but the most important thing to do is have the business properly valued.

How to Value a Business

Estimates are not good in this situation, so it is important that you have a fair valuation of your business. In order to accurately value a small business for divorce you need to take the approach that best matches your business model. There are three things you need to consider when valuing a small business, these are as follows:

1. Assets– if your business is asset heavy, then working out the cost of your buildings, machines, products, raw materials, etc., will help to create the core value of your business.

2. Cash flow – look at the forecast future of your expected revenues and costs to find a net profit (typically over 5 years) in order to achieve a terminal value. This figure should then take into account the riskiness of your business to bring in the predicted amount, thus giving your business a cash flow figure. More...

Some of the Howells’ private client solicitors and legal professionals recently organised a five mile sponsored walk around Cardiff Bay, taking in many of the Bay’s landmarks.

Fundraising for George Thomas Hospice Care

We chose to donate all proceeds from our walk to George Thomas Hospice Care, a local charity providing palliative care services. The charity needs to raise funds of £1.4m each year to help the 100 plus patients and their families and we wanted to do something to support them.

A walk in the sunshine

On a lovely autumnal afternoon under a blue sky and wearing our Howells t-shirts, we headed off at a leisurely pace walking from the bronze statues overlooking the old landing piers passing Techniquest to Penarth Marina and then along the Cardiff Bay Barrage. We then turned for home and continued to the Dr Who exhibition centre and Norwegian Church before arriving at one of the Bay’s pubs for a refreshing drink. More...

Wales' former Head of Physical Performance Adam Beard has instructed Howells Solicitors to provide their award winning conveyancing services to sell his UK home.

Adam Beard Leaves Wales Rugby for Cleveland NFL

Head hunted for the position of director of High Performance at NFL franchise Cleveland Browns, Mr Beard, an Australian national and his family moved to the United States in the summer.

Mr Beard came to the attention of the Cleveland Browns as a result of the outstanding work and results he has achieved for the Welsh rugby team. He took over as Wales’ fitness guru in 2009 and had a significant influence in the successful campaigns of the 2012 Grand Slam, 6 Nations title in 2013 and the 2011 World Cup. Mr Beard was also in charge of the fitness for the British and Irish Lions winning tour of Australia in 2012 - 2013.

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