Financial Advice and Planning During and After Divorce

Providing you with financial clarity during this difficult time

Why you need financial advice after divorce

Divorce is not just an emotional and legal process – it is a major financial life event. Taking financial advice now could be invaluable at helping you to mitigate the impact divorce could have on your finances.

Money might not be your first thought when your marriage breaks down but it is important you take steps now to protect your finacnial security. From property to pensions, investments and savings; understanding your current finances and where you are likely to end up will give you peace of mind.

Include pensions in divorce settlements

Divorce is a highly emotional time and can have long-lasting financial implications. You may be uncertain about your future income and expenses.

You may be concerned about dividing assets fairly and many focus on tangible assets such as keeping the martial home over anything else. However, it is important to remember that after the family home, a pension may be one of the largest assets so it is important that it is not overlooked during divorce.

If you don't consider the pension as part of the divorce settlement, you may be left with insufficient retirement savings when you reach retirement age. This is particularly relevant for spouses who stopped working when starting a family and missed out on pension contributions.  

At Borealis Financial Planning, we specialise in helping individuals navigate the complexities of pensions during divorce. Our expert advisers can assist you in:

  • Assessing and valuing pension plans to ensure you receive a fair share

  • Understanding different methods of pension division, including sharing, offsetting, and attachment order

  • Helping you create your own retirement plan

  • Guiding you through tax implications of pension settlements

The value of an investment with St. James's Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up. You may get back less than you invested.

 

How a financial adviser can support you after divorce

Divorce changes every part of your life. Once the legal process is over, you may find yourself facing new responsibilities. A financial adviser can be invaluable in helping you regain financial confidence and plan for your future.

At Borealis Financial Planning, we specialise in helping individuals through all stages on divorce. We will help you with:

·         Create a new cash flow plan basd on your new income and expenses

·         Help to make the most of your divorce settlement

·         Get your retirement plans back on track

·         Financial protection and security – putting new insurance policies in place if needed

·         Creating a financial plan with you for life after divorce

Get yourself back on track after divorce

Navigating your finances during and after a divorce can be challenging, but at Borealis Financial Planning, we're here to support you every step of the way.

Whether you need help creating a new budget, for investment or retirement planning, or simply someone to talk to; personalised financial advice can give you the clarity and confidence to move forward.

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Frequently Asked Questions

  • A financial adviser can add a lot of value to your future financial situation —especially if pensions, property, or shared investments are involved in the divorce. A financial adviser can help you understand your options and plan for your future.

  • Pensions are often overlooked but can be one of the most valuable assets. They can be split, offset, or earmarked depending on the agreement.

  • Taking financial advice early in the process helps ensure a fair settlement and future financial stability.