Unfortunately, more people apply for separation and divorce in the New Year than any other time of the year. It may be a combination of factors that instigate it, such as family arguments, indiscretions, old problems being aired after a few drinks or financial problems.
Couples and indeed businesses can all suffer from separation and divorce and the sheer weight of the legal costs can be eye watering, adding to the problem. The prospect of months or years of scrutiny in the Courts, who can ultimately decide your financial future, can also feel very unfair. Significant financial difficulties, emotional distress and all parties ending up worse off can be a reality.
The whole situation is one which requires careful handling and many people forget that despite their best efforts sometimes the only real beneficiaries in the process are the solicitors.
To reduce the impact of separation or divorce it can be helpful if both sides adopt a common-sense approach and if possible us the services of a mediation service. With your cooperation, they will try and help you without expensive legal intervention.
In addition to this you could do something that clients of outs have done in the past, when found in these circumstances. Why not try speaking to us. If you are a client of ours we already know all the intricacies of your financial affairs, we know about your investments, income, net worth and your pensions. In many ways, we as Financial Advisers are uniquely situated to help sort it out. Plus, as a friend to both parties we are able to guide and reason with you both, if you are in agreement, when difficult conflict points are reached.
Even those who are not clients of ours could benefit from the input of an Independent Financial Adviser and the advice we can provide if found in this difficult situation. Separating from or divorcing someone can be traumatic to the individuals and families alike. The outcome can be better than expected if both parties are willing to remain open minded and accept help from and Independent Financial Adviser that they trust.
We are not authorised and regulated to give divorce or marital advice but we are to give independent financial advice. If you find yourself in this position, why not talk to us to see if we can help. Contact us here and ask to speak to an adviser.