Divorce, dissolution and separation support

Regain control of your finances .

Whether your decision to separate is amicable or not, it is likely to be an emotionally taxing time.

At Crowe FPUK we understand with this emotional strain, you may not be in the best frame of mind to make big decisions on how to redistribute your joint assets with the longer term in mind.

We are available to you at all times so that you can dip in and dip out as needed during the separation proceedings and beyond. Here are some areas that may require consideration:

Redistribution and rebuilding of assets

Tax implications of unwinding your joint estate

Changes / reduction in cashflow

Redistribution and rebuilding of assets

Tax implications of unwinding your joint estate

Changes / reduction in cashflow

Financial protection

Legal documentation

Emotional impact

Financial protection

Legal documentation

Emotional impact

Working with our specialist consultants, we will be with you at every stage, to ensure you have the information needed to make the right financial decisions for you.

Clarity

Understanding the options available to you and the ways different types of wealth division can impact your plan over the short and long-term. Regardless of your situation, we can provide clarity around your options

Peace of mind

You will have a clear view of the lifestyle that can be maintained post separation, along with the planning opportunities available. By removing uncertainties through meticulous planning, providing comfort during this transition.

Control

Now you are aware of your financial situation and the the quality of lifestyle that is sustainable, its time to reclaim some time for yourself. Using our collaborative process, you will have all the tools needed to make the right financial decisions.

The average rate for divorce as of 2021 is 42%.

Despite this divorce rates are declining as marriage rates drop, with cohabitation arrangements and civil partnerships on the rise.¹

With changing patterns, there is an increasing need for understanding how this impacts your financial position. At Crowe FPUK, we are increasingly aware of the modern-day complexities within family structures and are mindful of these throughout our planning process.

¹How Many Marriages end in Divorce in the UK? (harbourfamilylaw.co.uk)

Redistribution of assets

Rebuilding

Rediscovering

Redistribution of assets

Unravelling your assets can be a lengthy and complex process which can place you under great emotional strain and as a result, you may not be in the best frame of mind to make decisions which will impact you over the longer term.

The divorce process has been initiated, Form E’s have been completed and you are in the process of entering negotiations or mediation with the relevant parties. Understanding your wealth structure at the beginning of this process can be a useful mechanism that can eliminate ambiguity and help facilitate decision making.

We can build visibility of your plan through utilising cashflow forecasting software to help build an interactive, tangible picture of your financial position and demonstrate the fiscal implications of financial decisions.

We can forecast several scenarios which will help us determine:

clarity around more complex assets such as pensions to ensure their value is being accurately understood and detailed
it will consider the liquidity, accessibility and taxation of assets
how the redistribution of assets could impact your position ad the mechanisms in which this can be facilitated
opportunities available to help rebuild your wealth
tax implications of unwinding a joint estate
how changes or reductions in your cash flow may affect you’re your lifestyle and what is sustainable moving forward.

A contentious asset may be your family home which is likely to be one your biggest assets. It may be that you don’t view your home impartially as you have made memories there, it may be your children’s home and you may want to stay in the house for the sake of continuity. In exchange the other party may retain access to pensions, cash or other investments to offset the wealth distribution. This may result in you increasing your debt and now running a property on a reduced household income putting strain on your cashflow.

This process can be an impartial way to understand the implication of asset distribution and can help provide clarity during the settlement process. We collaborate with your solicitor and accountant to ensure fair and realistic outcomes are achieved through utilising our collective expertise.

Rebuilding

This event is likely to have an impact on your asset accumulation and the way you approach your finances.

It may be that your attitude to risk will have changed, your protection needs have changed, you may have less wealth or more debt than before and therefore your needs and the way your wealth needs to be managed have changed.

Ensuring your finances are structured to support your future will help support future success. At this stage, we will evaluate your plan and formulate a financial framework that minimises risk and focuses on wealth restoration and/or preservation.

We will review and advise solutions on:

your financial protection position to ensure your plan is structured to withstand uncertainty
this can encompass protecting maintenance payments if these form part of your cashflow
how to tax efficiently structure your wealth and utilise available allowances where possible
unified and appropriate investment strategies which provide risk appropriate returns
review housekeeping such as pension nominations, life insurance beneficiaries and highlight other legal documents which may need updating such as your Will.

Through having the right structure in place and ensuring your capital is working hard for you, your plan will be geared towards achieving financial flexibility and security.

Rediscovering

This is an opportunity to shape your new chapter and to rediscover you.

Financial planning has the ability to help you focus on the future. Through strategic discussions we can help establish a framework which enables clear decision making while going through a significant life change.

We will review and advise solutions on:

have regular meetings to review your circumstances and objectives to ensure your plan remains on track
new opportunities or risks will be identified at this time
adapt your plan to fit changing needs, circumstances or legislation
continue to collaborate with other appointed professionals to ensure outcomes are being achieved.

Your financial plan will have flexibility factored in. As your needs evolve or change, your plan can adapt with you and through a collaborative, trusted relationship.

Meet our Financial Planning team

Helping secure your future financial objectives.

Learn more about our team

Let us know your enquiry and we’ll be in touch.

Disclaimers

Crowe Financial Planning UK Limited is authorised and regulated by the Financial Conduct Authority (‘FCA’) to provide independent financial advice.

The information set out in this publication is for information purposes only and is based on our understanding of legislation, whether proposed or in force, and market practice at the time of writing. It does not constitute advice to undertake a particular transaction. Appropriate professional advice should be taken on specific issues before any course of action is pursued. Any advice provided by a Crowe Consultant will follow only after consideration of all aspects of our internal advice guidance.

Past performance is not a guide to future performance, nor a reliable indicator of future results or performance. The value of investments, and the income or capital entitlement which may derive from them, if any, may go down as well as up and is not guaranteed; therefore, investors may not get back the amount originally invested.

The Financial Conduct Authority does not regulate Trusts, Tax or Estate Planning.

Please be aware that by clicking onto any links to third party websites you will be leaving the Crowe Financial Planning website. Please note that Crowe Financial Planning is not responsible for the accuracy of the information contained within the linked sites.