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The introduction of no fault divorce laws in England and Wales were announced this week \u2013 long-awaited changes that are intended to make the legal process easier and more amicable when a marriage comes to an end.<\/p>\n
For many couples it is often the case that \u2018the blame game\u2019 provides an almost insurmountable obstacle to overcome before the splitting family assets can be tackled fairly \u2013 \u2018no fault\u2019 divorces should reduce levels of animosity and legal fees, therefore providing a better outcome for both parties.<\/p>\n
Tim Norris, Partner at The Financial Planning Group, welcomed the news and explained how a financial planner can reduce stress levels even further when divorcing; \u201cIt\u2019s important to ensure that splitting your finances is as fair and simple as possible. At this stage in the process both parties should try to focus on a fair and happy future for all concerned, dwelling on the past will be counterproductive.\u201d<\/p>\n
He added; \u201cHere at The Financial Planning Group we have software designed to make the understanding of your joint financial position now, and a future life with separate finances, simple and straightforward. Finance is one of the first areas you should consider even before instructing a solicitor. Your home and pensions will likely be the largest assets that need to be addressed\u201d<\/p>\n