5 key financial planning steps to consider during a divorce
Going through a divorce can be incredibly emotionally challenging, but it may also represent the beginning of a new phase of your life.
When starting a new chapter, it’s important to consider your financial plan, review your goals, and prepare for any challenges you might face in the future. This could be especially true during a divorce as the process and aftermath of a separation might significantly affect your financial position.
Financial hurdles could cause additional stress during an already difficult time. Fortunately, with our help, you may be able to mitigate some of these challenges after a separation and continue working towards your financial goals.
This guide outlines five key financial planning considerations during a divorce:
1. Taking stock of your financial situation
2. Making important decisions about your living situation
3. Considering how divorce could affect your retirement plans
4. Assessing your protection needs
5. Reviewing your estate plan.
A divorce can have a significant effect on your finances now and in the future. A financial plan could help you maintain financial stability and continue working towards your long-term goals. Please get in touch if changes to your relationship mean you could benefit from a financial review.
Please note: This guide is for general information only and does not constitute advice. The information is aimed at retail clients only.
The value of your investments (and any income from them) can go down as well as up and you may not get back the full amount you invested. Past performance is not a reliable indicator of future performance.
Investments should be considered over the longer term and should fit in with your overall attitude to risk and financial circumstances.
Your home may be repossessed if you do not keep up repayments on your mortgage.
We hope that you find this useful but please let us know if you have any questions or need anything further.
