Every Divorce is different, with some more complex than others. However, it is important to consider all aspects of your financial situation prior to making any agreements. Some of the areas needing consideration in relation to financial issues are:
- Assessing your current Income needs and the implication of any maintenance agreements under discussion as part of the mediation process.
- Protection for your family and ensuring if anything was to happen to you, your dependants (children and/or elderly relatives) could maintain the standard of living you want for them.
- Ensuring protection of your income from maintenance orders.
- Understanding your tax situation and how best to manage your finances.
- Reassessing your saving and investment needs and priorities.
- Understanding you and your ex-partner’s pension provisions and how these can be reviewed alongside all your other combined assets as part of an equitable settlement.
- Investing pension funds appropriately for your needs following Pension Sharing Orders or understand the effect of Pension Ear Marking orders on your retirement income.
- Effect of divorce on trust* arrangements or inheritance tax planning.
- Effect on your business and protecting share holder control following divorce, as well as business succession planning.
There are many other areas needing consideration, and as part of the initial consultation and any future meetings, I can help plan and prioritise your needs now and in the future, as well as discuss the impact of any proposals before agreement is reached.
The value of an investment with St. James's Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up. You may get back less than you invested.
*Trusts are not regulated by the Financial Conduct Authority.