As divorce lawyers, we advise clients on the law relating to the division of assets. These assets vary enormously and could include anything from the family home, holiday or investment properties, pensions, savings or investments. However, no matter how much law we know, we are limited in the advice we can offer about certain aspects of any possible settlement and it is nearly always beneficial to speak with an Independent Financial Adviser.
We are qualified in advising on family law: what the legislation provides and what our experience and knowledge tells us a court will most likely order. However, there are different ways of dividing assets and one way may benefit you more than another. For example, if you and your spouse have a house and a pension of equal value, will it be more beneficial to sacrifice your share of a pension and offset it with a greater share from the house? Every divorcing couple’s circumstances and priorities are different; understandably, everyone’s preferred outcome is unique. Therefore, what might be right for one couple may be inappropriate for another.
As lawyers, we are not trained or qualified to assist with detailed questions about asset performance and valuations. It is often therefore helpful for our clients to speak with Independent Financial Advisers. Independent Financial Advisers will be able to sit down with our clients, sometimes with us present as well, and talk them through the various options available to them. This information will then be used to formulate proposals for settlement, or to respond to proposals made by your former partner.
Most IFAs offer free initial consultations and are eager to stress that they are not just used by multi-millionaires but can be helpful to everyone regardless of their financial position.
At Bretherton Law, we have good working relationships with a number of IFA’s and, if necessary, we can provide those details to help point clients in the right direction. We work hard to achieve the best outcome for you in your divorce and family cases and believe that speaking with an IFA can help with that process.