10 financial planning tips for divorce
By Will Grahame-Clarke, 5 Jan 18
Building up your savings and reviewing your will are among the steps Hargreaves Lansdown has recommended for individuals considering divorce.
Revisit your overall position: After a divorce you will need to revisit your longer-term savings and investments too, and review the damage done.
You may well need to rebuild your portfolio or your pension, and rethink your plans for retirement, so the sooner you start, the better.
Sarah Coles said: “The potential cost and distress involved in a divorce means in many cases it’s worth considering a prenuptial agreement before you get married.
“These lay out what will happen to your assets in the event of a split, and can help protect assets brought into the marriage. This may be particularly important if either of you have children from a former relationship and you want to protect their financial position.
“Prenups are not legally binding in the UK, but as long as they are reasonable, properly negotiated, and everyone has been legally represented, the courts are likely to take them into consideration.”