As Chartered Financial Planners we work closely with a number of local professionals involved in family law, particularly divorce. As a member of the team with Collaborative Lawyers and Family Change consultants, our financial planning expertise is employed constructively, particularly in the area of modelling future financial scenarios. Using specialist software, we make complicated financial planning calculations and modelling what the clients’ financial future could be look easy and presentable in a clear visual (not figures) format.
As part of the Divorce process, and before any discussion surrounding eventual financial settlements can take place, in-depth information on the current financial situation of each client is required. Not to mention current and future income and expenditure requirements. This is exactly the data we need and so negates the need for further information gathering or delay. Armed with this, we can model any number of financial scenarios that are to be considered and show both parties the effect the division of the family assets/pensions/income will have on their future financial lives.
As a neutral financial planner we collaborate with both parties to assist in them reaching an equitable solution and by gaining their trust from the outset we are able to reduce the risk of unrealistic and inequitable solutions derailing the overall process.
Once a Financial settlement has been agreed, and where requested, we will continue to assist in the implementation of any Pension Sharing Order and provide ongoing financial planning to the parties, using the same software. At a time where there often exists financial uncertainty and insecurity, our ability to use the plan already built with the client during the divorce process, means that we can then bring that plan to life. We model their assets, tax, expenditure, protection and help them decide on the shape of their financial plan which we then monitor into their future.
FOR FURTHER INFORMATION, OR TO DISCUSS HOW THE FINANCIAL PLANNING GROUP CAN HELP YOU OR YOUR CLIENTS, PLEASE CALL TIM NORRIS ON 020 8614 4780 OR E-MAIL firstname.lastname@example.org