Coping with life-changing events
Plan for tomorrow, live for today
Change is the only constant in life. It inevitably involves twists and turns, with some that are expected while others may be entirely unplanned. When this happens, it’s important to feel secure with the knowledge that you have the right contingency plan in place.
None of us can predict exactly what a life-changing event will be or when it will occur, and many of them will take you by surprise, whether good or bad. Here, we consider some major life events you may wish to discuss with us.
Divorce
and
managing
finances
Managing
your
finances
after
divorce
can
sometimes
feel
like an
impossible
task,
especially
if the
amount
of money
coming
into
your
household
is much
less
than
when you
were
married.
For some
people,
divorce
can mean
financial
devastation
or
hardship.
You may lose half of what you have saved over the course of your adult life, and go into debt paying lawyer’s fees and other expenses. Yet as messy and painful as divorce can be, it is often both necessary and ultimately a good thing – and it is possible to recover both financially and emotionally after a divorce.
When you’re facing a divorce, you need to know where you stand financially. We can help you plan for a sound financial future, to give you security and peace of mind, allowing you to move forward with your life.
Thinking
about
financial
planning
for
long-term
care
More
people
in the
UK are
living
for
longer,
which is
good
news.
However,
this
longevity
brings
certain
challenges,
such as
how we
will
fund any
long-term
care
that may
be
needed
in the
future.
If you
are one
of the
many
people
faced
with
helping
a parent
or
another
loved
one find
long-term
care,
then you
are
probably
grappling
with a
lot of
questions.
Among them: How can I bring this up in a way that won’t upset them? How are they, or how are we, going to pay for this?
What
type
of
living
situation
is
best?
Ageing
comes
with
many
joys and
challenges.
We can
discuss
with you
the
options
to help
cover
your
loved
ones’
care
needs
now and
in the
future.
Dealing
with
your
finances
in
widowhood
Coping
with the
death of
a loved
one can
be
extremely
hard.
You may
be
dealing
with
lots of
different
emotions,
finding
it hard
to
process
them and
having
difficulties
moving
on.
Losing
your
loved
one,
whether
expected
or
sudden,
can
prove
almost
too much
to bear.
But it’s surprising how uninformed some spouses can be about each other’s financial lives. Even in marriages that consciously attempt to integrate finances (joint bank accounts, both names on the mortgage), a lot of financial activity is specific to one spouse, for example, a credit card, retirement planning, an ownership interest in a business, investments, a car with only one name on the finance agreement.
After the death of a spouse, your financial situation will likely be a major concern. We will take the time to understand your needs and recommend solutions personally tailored to you.
What
to
do
and
not
do
with
an
inheritance
Losing
someone
you care
about is
one of
the
hardest
experiences
in life.
Receiving
an
inheritance
probably
means
coping
with the
death of
a loved
and
cherished
member
of your
family
or a
friend.
The
emotion
associated
with
bereavement
often
makes
taking
decisions
about
both
their
estate,
and what
you
stand to
inherit,
difficult.
Most
estates
are
settled
within
six to
nine
months
in the
UK, but
it
depends
on the
complexity
of the
estate.
If it
isn’t
handled
appropriately,
the
pressure
of the
proceeds
can be
stressful,
upset
your
relationships
and
complicate
your
finances.
During
this
difficult
time we
can help
you to
consider
your
options,
assess
any tax
implications
and
decide
how this
inheritance
could be
used to
provide
you with
financial
security
in the
years
ahead.
The
importance
of
financial
planning
Financial
planning
helps
you
determine
your
short
and
long-term
financial
goals
and
create a
balanced
plan to
meet
those
goals.
The
coronavirus
(COVID-19)
pandemic
has
demonstrated
unequivocally
that
such
unforeseen
and
unplanned-for
events
can
wreak
havoc on
our
personal
finances.
Establishing clarity around your finances is arguably one of the most critical things you can do for your overall financial success. It is important to understand your financial needs and then create a financial plan to meet them. Tax planning, prudent spending and careful budgeting will help you keep more of your hard-earned cash.
We know you’ll have different priorities for your wealth at different points in your life. Whatever your financial aims, we can help you achieve them for both you and your family.
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