Mrs D Client contacted Equanimity during her divorce. She had been offered a settlement by her husband and she didn’t fully understand what this meant. She wanted to know whether she could afford her lifestyle based on the settlement being put forward and when she would be able to retire in the future. Finally, she wanted to buy a home and didn’t know how much of the money should be invested into her new property.
During the negotiation process it became clear that Mrs D Client was having difficulty coming to terms with the breakdown of her marriage and we put her in contact with a divorce counsellor.
We initially helped the client complete a new budget planner (Form E) based on her realistic expenditure post divorce. As she was aware that she wouldn’t be able to afford all the luxuries that she had before her divorce we really helped her understand which parts of that lifestyle were important to her and which were not. Based on her new lifestyle, we modelled how the maintenance order would impact on her overall finances and ultimately how much she could save for retirement. We demonstrated the effect on her overall finances of spending differing amounts on a new property – ultimately they all meant that she would have to sell the property at some point and downsize but the key question was when.
With this new knowledge, she was able to negotiate in confidence through her solicitor as she understood the key areas of her finances that she needed to protect. Once the settlement was achieved, we dealt with the Pension Sharing Order ensuring that the pension was invested in line with her needs. Finally, with the excess money received that wasn’t needed for a property, the money was invested to provide her with the security that she desired.