With the rise in divorce, more planners have seen an increase in cases involving divorce settlements.
The Planner Casebook feature in the latest edition of Financial Planning Today magazine reveals the intricacies and challenged of Financial Planning for divorcing clients.
Lawrence King FPFS, a Chartered Financial Planner at Succession Wealth, successfully advised a female client who had little idea of her options when she was faced with divorce.
Sadly after the planning was concluded there was bad news but the Financial Planning she received helped her to look after her young family.
After many years together she and her husband decided to divorce, leaving the part-time worker to sort out her financial affairs. She had three dependent children and her husband had looked after the family’s finances so her financial knowledge was low.
Fortunately there were assets to utilise and a pension sharing order agreed as part of an alternative divorce settlement.
Mr King talks through the case in detail and it will resonate with many Financial Planners who advise clients going through divorce.
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• Editor's Note: This story initially contained an incorrect link to the magazine. Apologies for the error. This is the correct link: http://bit.ly/2OdXtkO