Through my time as an adviser, I have aided many women navigate through their divorce proceedings. Divorce is a major life change for many, but can signal freedom and hope for the future.
Many women in this position tell me “I don’t know where to start” because they may have limited knowledge or experience dealing with household finances. It can be a daunting prospect, as quite often finance is at the centre of divorce, and you must navigate this path for the very first time.
It takes a lot of thought to ensure the settlement reflects what you need for the future, but I truly believe that the divorce process no longer needs to be a big scary journey, especially if you have the right people in your corner!
If you are starting or currently going through the proceedings, I would encourage you to look for an adviser the same way you look for a legal team. Think about the professionals you need around you to give you the most successful outcome.
Managing Money During Divorce
If you would like to hear more, I will be hosting a webinar on 21st September, where I will be able to talk about the financial implications of the divorce process in more detail. If it is something that you feel is relevant to you, please come along. Register to attend here.
Some of your initial financial considerations should be:
- Tax – an important factor when splitting assets like CGT and IHT allowances.
- Pensions – often overlooked but an integral factor, if you have taken time off to raise children, work part-time, look after elderly parents or have earned less than your ex-spouse.
- Life policies- will they be split or do you need to take out new policies once the divorce is complete?
- Wills – Unlike a marriage, divorce does not automatically invalidate a Will*
A financial adviser can work with you to build a robust plan for the future, producing reports centred around income, expenditure and growth of savings/investments to be used with your specialist legal team to ensure a fair and positive outcome for your future. Divorce can be extremely emotional and can affect your mental health in a way you have never experienced before. I feel because of this it can make it hard to understand what you are truly entitled to, however with an adviser there for you they can act in your best interests whilst providing full support.
* Will writing involves the referral to a service that is separate and distinct to those offered by St. James’s Place. Wills are not regulated by the Financial Conduct Authority.
Contact Catherine Scard or Jennie Rose
Please reach out to Catherine or Jennie for a non-obligatory and informal discussion about how we, at Lester Brunt, can help you.
The value of an investment with St. James’s Place will be directly linked to the performance of the funds selected and may fall as well as rise. You may get back less than the amount invested.
Catherine and Jennie have over three decades of combined financial experience and spend a lot of their time as advisers helping women achieve their financial goals. Within the female golfing community, Jennie and Catherine can share their passion and advocate the benefits of financial protection and the value and importance of financial planning. If you wish to get in touch, please contact Catherine or Jennie at Catherine.scard@sjpp.co.uk or Jennie.bailey@sjpp.co.uk
Contact details:
Jennie Rose
07980 870 913
Jennie.Bailey@sjpp.co.uk
Catherine Scard
07763 833 474
Catherine.Scard@sjpp.co.uk
Lester Brunt Wealth Management is an Appointed Representative of and represents only St. James’s Place Wealth Management plc (which is authorised and regulated by the Financial Conduct Authority) for the purpose of advising solely on the group’s wealth management products and services, more details of which are set out on the group’s website http://www.sjp.co.uk/products. Lester Brunt Wealth Management is a trading name of Lester Brunt Wealth Management Ltd.
SJP Approved 31/07/2023
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