divorce financial planning
Finding an equitable way to share the matrimonial assets during divorce can be one of the hardest parts of the process. Ensuring both parties can fulfill both their short term and long term financial objectives, can prove to be a difficult balancing job.
We have considerable experience and knowledge of the divorce process, and its technical complexities, enabling us to provide a holistic advice and planning service to your clients.
Test Driving Solutions
Having a correct and up to date valuation of all the matrimonial assets held by both parties is just the start. From this, both parties need to understand the options available and have a good understanding of what they have and what it all means.
Being able to visualise your financial life can help your client when it comes to agreeing on a financial settlement. Bringing numbers to life and seeing and comparing potential different settlement scenarios can be all-important in giving your client the confidence to be able to move forward.
We can build a financial plan for your client and test drive with them various settlement options so they can see how their financial future will look post-divorce.
For every pension scheme held, the options of pension sharing with an internal or external transfer, attachment orders, and offset should all be considered. However, not all options are available with all schemes, so knowing which will give both parties the best financial position now and in the future, can be difficult.
This is an unbiased assessment of the options, highlighting the advantages and disadvantages of each, whilst providing guidance on how the pension assets should be divided to gain an equitable settlement.
Pension Credit & Implementation
Where an external share has been agreed by both parties, we can advise the receiving spouse on where and how the new pension should be held and invested.
We will provide clear recommendations on the type of plan to hold the pension credit and where appropriate the investment funds to be used to help them achieve their financial goals.
We will help with the implementation of the pension sharing order to ensure that all regulatory requirements are met, and the pension credit set up exactly as the receiving party wishes.
Ongoing Planning & Support
We have a choice of service plans to help your clients on an ongoing basis. Our forward-looking financial planning services are intended to give your clients a clear picture of their financial position at each planning meeting to make sure they remain on track. Integral to each will be a continued assessment of how their investments and pension plans continue to meet their needs.
REGULATORY STATUS OF THE SERVICES/ ADVICE
Inchmead Financial Services Limited is a joint venture with Beaufort Financial (Wokingham) Ltd. Beaufort Financial is a trading name of Beaufort Financial (Wokingham) Ltd, an appointed representative of Beaufort Financial Planning Limited which is authorised and regulated by the Financial Conduct Authority. Beaufort Financial (Wokingham) Ltd is registered in England & Wales. Company No. 12495066.