If you are thinking of getting divorced you may be wondering about how different divorce solutions might affect your finances. Are there aspects of your finances that make a do-it-yourself divorce attractive or dangerous? What are the potential financial pitfalls of different divorce methods? Does collaborative divorce offer the prospect of financial benefits over and above a traditional litigation and a potential day-trip to court?
In my experience of helping clients make informed decisions about their money in divorces, the best time to ask these questions is before you have appointed a solicitor. It is clearly beneficial having a full understanding of the value of your savings and investments before you start any discussion on how to split them.
Different family lawyers typically have different views about the best ways of helping you separate, different views about the value of methods such as collaborative divorce, and different preferences for sharing financial assets such as pensions.
Seeing a Resolution accredited Divorce Independent Financial Adviser before appointing your solicitor can have the following advantages:
Help you understand what your and your spouse’s finances are really worth
Highlight potential problems with your finances including the advantages and disadvantages of using Pension Sharing Orders on your particular pension plans
Provide a checklist of information to provide your solicitor about your finances, including a few pointers that solicitors occasionally overlook
Provide a checklist of questions to ask your pension companies to be sure that you are getting timely and accurate information
An impartial discussion about the merits of different divorce solutions rather than relying on the preferences of the divorce lawyer you happen to meet
Explain where applicable if there are areas relating to your finances where it might benefit to have an expert Chartered Financial Planner work alongside you and your solicitor during your divorce
Highlight potential solicitors that might be appropriate for you, taking into account your personality and locality preferences.
An initial Pre-Divorce meeting at our offices is at our expense and may be sufficient for you to set off on your divorce with an informed view about your finances and appropriate solicitors to contact.
Please contact Miles Hendy
on 01454 327788 to find out more and to book an appointment.