January and February are, statistically, the months when couples tend to split up and start divorce proceedings – with costs starting to mount as soon as the lawyers have been appointed. Invariably, it is the family finances that cause the real issues during divorce, prolonging the process, and leading to potentially huge legal and court fees. In our experience, much of which can be avoided.
Mediation is an advantageous process that offers divorcing couples the ability to meet with a trained professional, who can help them reach an agreement on finance and custody issues. However, with large amounts in terms of property and pensions at stake, as well as serious questions about both partners’ financial futures, many couples would be wise to look beyond mediation and solicitors and get independent financial advice too.
As chartered financial planners, with over 30 years’ experience in this area, we find the best outcomes happen when we are involved in the process from the beginning, thus offering separating couple the advice to guide them towards an amicable and fair division of assets, which can save them thousands in unnecessary fees.
By using state of the art software, we are able to clearly show the family finances, to include all savings, investments, pensions and property, and can “future forecast” and stress test financial scenarios, so that both sides know what their financial future will look like. This is often a key aid in achieving a respectful, non-confrontational divorce.
If you would like to like to arrange a consultation, or to find out more information, please call Tim Norris or Alan Clifton on 0800 731 7614 or e-mail Tim.Norris@fpgonline.co.uk