Untangling finances during a divorce can be a complicated process exacerbated by the emotional turmoil of the situation. Yet the decisions you make at this time can have significant and long-lasting consequences for you and your finances.
Dividing marital assets can throw your well-planned finances, pension provision and investment arrangements into chaos. Seeking assistance from a Chartered Financial Planner can help bring order and safeguard your future.
Involving Foresight early on in your divorce means we can help shape your divorce settlement and assist you in making the right decisions. Our input can often prevent the process from becoming unnecessarily complicated and drawn out during an already stressful time.
There are many financial factors to consider during your divorce process, which include the following:
Dividing savings and investments between a divorcing couple is usually straightforward. However, there may be tax consequences, particularly with tax-efficient investments such as Venture Capital Trusts (VCTs) and the Enterprise Investment Scheme (EIS), which are more complex.
Pensions are often one of the most important assets, so they must be accurately valued and included in a divorce settlement. There are three ways that pensions are dealt with in divorce:
Divorce can have various tax implications for the parties involved for example, if assets or investments are being sold as part of the agreement, there may be a capital gains tax consideration.
Any business assets will be taken into account in a divorce settlement. Splitting business assets may mean that the business has to be broken up or sold, or one party has to buy out the other.
With our expertise covering all of these areas, we can help ensure you make sound and rational decisions regarding the distribution of your marital assets and your financial future.
After your divorce, your financial situation may look very different, and you may have different lifestyle needs and objectives. We can help you take stock and form a renewed financial plan.
For expert and objective financial assistance with your divorce, please get in touch and we can discuss how we can help.
We can advise you individually, or jointly with your spouse to help you reach a financial settlement.
Appointed by both parties in the divorce, we provide an objective financial perspective. We review your financial position and needs going forward to advise on how best to structure your financial settlement in a way that is equitable and the least detrimental to you both.
Acting for you only, we will help ensure that your financial settlement is fair and that you receive the best outcome. Our input is particularly valuable in high-value divorce situations or where you and your partner cannot agree on your financial arrangements.
The information contained within this website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK.
