The pandemic and resulting lockdowns have put great pressure on many couples over the past year or so, and many relationships have sadly suffered as a result. The financial implications of this can be challenging.
How to split your finances
As part of the divorce process, a decision will need to be made on how to fairly divide financial assets such as the family home, money in current and savings accounts, pensions and investments. Couples will need to consider whether they are entitled to a share in the sale proceeds of the property, for example, as well as the value of maintenance payments required to keep up with their own and their children’s lifestyle.
Splitting up at a time when many people’s finances are already squeezed can make the situation all the more stressful and it can be hard to come to an agreement. If this happens, a couple may still be able to settle out of court by hiring a trained mediator or collaborative lawyer. If not, a court may have to decide.
When it comes to dividing assets tax-efficiently, we can provide support and guide you through how to best invest the proceeds of any potential settlement.
It is important to take professional advice before making any decision relating to your personal finances. Information within this page is based on our current understanding and can be subject to change without notice and the accuracy and completeness of the information cannot be guaranteed. It does not provide individual tailored investment advice and is for guidance only. Some rules may vary in different parts of the UK.
Equity release will reduce the value of your estate and can affect your eligibility for means tested benefits.
Tax and Estate planning are not regulated by the Financial Conduct Authority
The value of pensions and investments can fall as well as rise. You may get back less than you invested.
Will writing is not part of the Quilter Financial Planning offering and is offered in our own right. Quilter Financial Planning accept no responsibility for this aspect of our business.
CA Financial Services Ltd are an Independent Financial Adviser based in Sevenoaks, Kent. From our Sevenoaks offices, we offer IFA services throughout Tonbridge, Tunbridge Wells, Dartford, Orpington and across into Sussex and Surret. Please call us on 01732 617 950 to book a free initial appointment.
CA Financial Services offer financial advice, pensions, investments, ISAs, Equity Release and Inheritance Tax Planning for the whole family. We have 14 years’ experience as Financial Advisers based from Sevenoaks and are truly independent, allowing us to give our customers the best financial advice possible.