How an Independent Financial Planner can help during divorce

A quality Independent Financial Planner can work with you during this time to help you understand the immediate and life-long implications of the financial decisions you are facing. Their purpose is to help you make decisions with clarity and confidence during this difficult time.  

UNDERSTANDING THE FAMILY WEALTH POSITION  

When contemplating divorce, understanding the overall family financial position is essential as it provides the foundation to move forward. This can be overwhelming and complex especially if you’ve had limited involvement with the family finances.  

An Independent Financial Planner can assist by helping you understand the full family wealth picture. They will work alongside your solicitor to help you understand how every asset, account, life policy and pension will be treated during divorce proceedings and throughout your lifetime.  

EVALUATING YOUR NEEDS  

A quality Independent Financial Planner will listen to what’s important to you. They will help you establish your long-term financial objectives and define what ‘financially secure’ or ‘financially independent’ means to you personally now and in the future.  

At Synthesis we use sophisticated cashflow modelling software to visually present to you how your financial assets and income could meet your needs and objectives over time. Furthermore, we can explore how different planning strategies can provide a more favourable financial outcome. 

UNDERSTANDING YOUR OPTIONS  

Importantly, the framework above can be applied when considering the outcomes of the decisions you will make during proceedings.  

For example, is taking a share of a pension potentially more beneficial over time when compared with receiving another asset in its place? 

Viewing your options visually is a very effective way of bringing clarity to the decision-making process. 

Our purpose is to help you feel comfortable when dealing with the financial aspect of divorce and to instil confidence during the decision-making process. We will also help guard you against any unintended consequences that can arise when decisions are made with undue consideration. 

LONG-TERM ADVICE  

It is important that your life, following divorce, evolves in the way that you want it to and that your financial position meets your needs and objectives as you move forward.  

 Things can change both personally and from a financial planning perspective. Therefore, the financial planning and investment strategies put in place should be reviewed in line with these changes.  

An Independent Financial Planner can continue to provide guidance and advice to help you make financial decisions as you move through life.  

How to get in touch with Synthesis Connected Wealth

 We work collaboratively with you to create a truly personalised financial plan that puts you in control.  If you would like to discuss your situation in more detail with Synthesis, please visit our website, at https://www.synthesis-wealth.co.uk, and feel free to contact us.