As a Chartered Financial Planner, I often help women who are dealing with divorce, and in this particular case, I helped a woman who wanted to complete a divorce in an amicable fashion – but was also worried about her retirement in years to come. Would she have enough money to live off and maintain her quality of life? And how would working with me be useful to her? What exactly is the role of a divorce Financial Planner? At first, the lady concerned (let’s call her “Andrea”)...
Read More “I’m going to my mother’s!” (and slamming the door) doesn’t let you off the hook if the marital home has a mortgage on it and you decide to get a divorce. If your name is on the mortgage, you are as liable as your spouse for the payments. So getting divorce financial advice early on is a good idea. What’s yours is his and what’s his, is yours – including debts and mortgages. And if the payments are not made, your credit history will be damaged. So getting to a place of...
Read More According to the Mirror, lawyers estimate that the average cost of a UK divorce is – in real terms – £70,243 and rising – with the average person losing out on £4,686 of their salary, with an added £5,089 on finding alternative accommodation, £8,926 in legal fees and £51,543 in paying off debt and sharing assets. Of course, if the divorce starts to get ‘out of hand’ – then legal fees can begin to soar. I spoke recently with a mother who has had to borrow...
Read More A recent question came up in our Secret Facebook Group about what is the best online divorce provider. It’s a good question to ask, because the feedback I have had from many people who have used them, is that the quality of the service can vary enormously. But I notice the real problem they have, is that their expectations about what a divorce actually involves, are often way out of kilter. The person asking the question in this case seemed very much in control of the process and was...
Read More In his interview with Suzy Miller of the Alternative Divorce Guide, Charlie Reading, of Chartered Financial Planning firm Efficient Portfolio, talks about securing your financial future after divorce, and how to prepare for and deal with the financial impact of divorce. The financial impact of divorce can be very demanding, especially as it comes at a time when the emotional stress is already high. Taking the time to plan financially helps ensure that your divorce runs as...
Read More Suzy Miller of the Alternative Divorce Guide interviewed Nigel Rowland, a financial services expert about the effect divorce can have on your health – and how to protect yourself from the possible financial fallout during and after this difficult time. Divorce Has Lasting Impact on Health. It is no surprise to anyone who has experienced it themselves, to discover that Divorce can have lasting repercussions on health: *studies show that even for those who remarry, the...
Read More Sam Whybrow believes we all need a ‘business plan’ for our own lives, so that our finances will empower us to live the lives we dream of – not hold us back, hiding our true potential. But to create such a ‘business plan’ for your life, you need specialist financial guidance to be proactive not reactive with your finances – and Sam explains how to access that support. What is the service that you provide? In effect, I act a as Finance Director for my clients,...
Read MoreWhen Getting Divorced Keep A Record Of All Your Possessions If you’re looking for decluttering and help in the home – contact Suzy Miller Email: suzy@startingovershow.com Divorce is often described as a bereavement. Accepting change can be difficult, coming to terms with the loss of a relationship, the home and sentimental possessions can soon fuel our emotions, resulting in aggression, bullying and controlling behaviour. If you want to know more...
Read More Financial Advisor Peter Greenwood is experienced in helping a wide range of clients, including those who are dealing with divorce. The new rules about pensions will make it even more critical for business owners who are experiencing family separation or divorce to get skilled advice from a financial advisor. Extraction point Business owners who extract their company’s profits to pay dividends could find freedom in pensions. Directors of profitable private...
Read More Family Arbitration can rescue a mediated divorce from crumbling into a nasty expensive court battle, so should more mediators be paying attention to it as a resource for their clients? Nadia Beckett of Beckett Solicitors LLP explains the many benefits of using arbitration in a family law divorce setting. Family arbitration could become a powerful new tool in the mediator’s toolbox, as it has done over the pond in the US and Canada. It saves the client money and the...
Read MoreWhat will happen if we don’t seek advice when taking pension benefits? The new pension legislation is not just something for financial experts to worry about – anyone with a pension needs to be aware that they could lose much of their future financial security to the tax man, if they don’t get the right advice. And if you are someone who has been through divorce, and relying very much on the pension arrangements for your financial stability, the last thing you need is to unwillingly...
Read More No-one knows better the true cost of divorce than those who have experienced an adversarial court-focused litigation process. Sometimes those people are the very professionals who work hard to support divorcing clients to stay away from the court and find a better solution. In this podcast interview with a Financial Advisor who has been through an acrimonious divorce, he describes the true cost of his own divorce and believes that if he had been able to use mediation then...
Read More In this video the Alternative Divorce Guide Suzy Miller interviews Financial Consultant Lottie Kent of Riverside Financial Consultants about how a financial advisor can help you reduce your outgoings during divorce, and release finance that can be used to secure a safer future for your children: “I worked with a lady who wanted to stay in the family home, but the monthly payments were so high that she and her daughter were going to have to find another home because of the...
Read More In this video the Alternative Divorce Guide Suzy Miller interviews Financial Consultant Lottie Kent of Riverside Financial Consultants about how confusing and scary divorce can be, and why the last thing you need is to be getting stressed about your finances as well : “As the daughter of a broken marriage, I understand how hard divorce can be and I know the last thing you want to be worrying about is your finances. I appreciate going through a divorce is very confusing,...
Read MoreSimple but very useful advice from Knill James Accountants about how to make the divorce process easier. Alternative Divorce Guide Suzy Miller interviews David Martin and Suzanne Craig of Knill James Accountants and gets their ‘top tips’: Being organised is the number one Top Tip Where are the bank accounts? Where are all the bank statements – are they only online and how can you access them if you’re not the spouse in charge of the finances? Don’t forget that...
Read MoreNew mortgage rules have come into force – will it make it harder for you to get a mortgage? At Willow Private Finance we think the answer is NO! When starting over from divorce, buying a new home is often part of that process, but will these new rules make it harder? As of the 26th April 2014 new rules regarding affording your mortgage have come into effect. This means that we will have to prove to lenders that you can afford your mortgage now and if interest rates were to...
Read More In this video interview with financial advisor Sheila Bailey of Willow Private Finance – in my role as the Alternative Divorce Guide – I asked Sheila: “How do couples keep things amicable during divorce and how can you as a financial advisor, help them with that journey”? “When a relationship breaks down emotions generally run high, there is the possibility that tempers will also run high. There is also so much to think about – the...
Read More When I was getting divorced I had the typical advice from my friends and family: Get yourself a good female solicitor… don’t give him anything.. etc – and because I was so angry about the situation I never thought of anything else. I didn’t realise what my options were. This made the whole procedure difficult and extremely augmentative which was not great for him or me, and 13 years later we still do not talk!! As a member of The Alternative Divorce Guide, I...
Read More Life can be a handful at times… So how would you cope if the unthinkable happened? In this interview with mortgage expert Sheila Bailey of Willow Private Finance, The Alternative Divorce Guide Suzy Miller asks how someone navigating divorce needs to be acutely aware of putting financial protection in place. It’s the things you just don’t think about….. It’s not just the obvious things that need protecting. As well as the...
Read More Don’t want to sell the house post-divorce? How to re-mortgage In this interview with mortgage expert Sheila Bailey of Willow Private Finance, The Alternative Divorce Guide Suzy Miller asks how someone navigating divorce can re-mortgage their home as an alternative to selling up. “If you are needing to buy out your Ex from the family home – or just coming to the end of your fixed rate mortgage deal, now maybe the time to look for a new...
Read More Diamonds may be a girl’s best investment post-divorce Always a girl’s best friend, Diamonds join gold as a stable investment option once the divorce dust settles, as part of a solid financial plan for the future. Diamonds last forever – sadly unlike so many marriages. The good news is, diamonds remain a girl’s best friend through divorce also, as buying diamonds is not only an investment option as part of a long-term financial plan, but it feels...
Read More Diamonds are forever – outlasting even the most long-term and stable marriage. They remain a girl’s best friend through divorce also, as buying diamonds is not only an investment option as part of a long-term financial plan, it makes investing somehow feel more glamorous! Who wants a load of gold stashed in a safe box when they can have beautiful gems to enjoy that also provide security for the future? When you find yourself in the process of getting divorced, all...
Read More Every New Year brings a bumper crop of divorce enquiries for law firms and online divorce providers in the traditional post-Xmas break up season, the true cost of rushing into an adversarial divorce is still one of the best kept secrets in town. The current difference in cost is estimated at £65,000 – money which could be better spent on university fees for the children, according to the UK’s campaigner for Alternative Divorce, Suzy Miller. Suzy Miller of...
Read MoreYou may have heard the saying that ‘How you do one thing is how you do everything’ – which, when you stop to think about it, is a big statement in itself. However, when it comes to earning, saving, being in debt and really getting to grips with your money habits, mind-set and increasing your income potential since your divorce so that you can begin to create that liberating financial independence – then the saying changes to ‘How you do money is how you do everything.’ This is the phrase that...
Read MoreLet’s do the maths – and see what is the financial advantage of staying out of the divorce courts: There are better ways to travel this journey that will cost you less is money and stress Conventional Adversarial Package (We DON’T recommend this one) Alternative, stay-out-of-court Package includes Divorce in a Box (We think this is a much better choice) Sources: Cost of adversarial divorce * Novitas Divorce Litigation Fund ** Cost of collaborative divorce “...
Read More When you go through a divorce or separation there is much to think about – but there are 12 important questions to ask yourself right at the beginning of the divorce process, if you are to fully protect your family’s interests: Your estate could go to your ex partner – you can stop this. Your share of the house could go to your ex partner – this can be protected Your children’s next of kin, after you, is potentially their other parent – is...
Read More The Big 5 Divorce Myths There are 5 main reasons that families today can find themselves in an adversarial divorce process. These reasons are caused partly by the divorce industry, and partly by people not wanting to take full responsibility for keeping their divorce non-adversarial. It’s up to us to change things! True or false? “We didn’t want it to get nasty, but we couldn’t stop it becoming adversarial” “I have to fight for a good settlement and what’s fair or...
Read More Mr and Mrs Kavanagh, both lawyers, managed to squander their £3,000,000 fortune in disputes about their three children and the financial aspects of their separation. Whilst married for just 10 years, they then spent 5 years litigating and their combined legal costs were said to be £900,000! In a survey commissioned by Resolution in August 2012, 45% of Respondents thought “most divorces involve a visit to Court” and 40% agreed with the statement that “divorces can never be without...
Read MoreWell that is a question that we may over the coming months find real answers to – the hard way. With the full force of redundancies throughout the UK yet to be felt, and despite the claims that already financially-stretched couples will not be able to ‘afford’ to get a divorce, we could be seeing a real link between income shifts and people leaving their relationships to go it alone. Figures published by the Office for National Statistics (ONS) show that the number of women seeking Job...
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