It goes without saying that employees are sadly facing up to divorce day in day out, so who do they turn to to advise them financially as a result of a settlement?
A financial settlement made in England & Wales can result in either party receiving a lump sum. After going through such a trying process, prudent financial planning is essential at this stage.
Other considerations are:
How will the maintenance payments be kept going during illness or redundancy?
Is a new mortgage required?
How does the divorce affect future pension provision?
What happens to any existing life assurance policies?
We could go on – there are a great many potential difficulties. Needless to say, we firmly believe that divorce really does need expert financial planning to help give some clarity to the financial future. Most employers will have employees facing up to divorce at some point, and this in turn will affect performance and their wellbeing. We can’t solve all the problems but we can show the way to alleviate some of the financial concerns brought on by divorce.
If our divorce advice is relevant to you or your employees, please call us on (0115) 9771155 or send us a message using our contact page