Divorce finances, you don’t have to do it alone
What were their challenges:
Recently separated and realising she knew very little about her financial situation as her ex-husband was both the breadwinner and in charge of the finances, Rose needed our help. Working out both her current position to expedite the divorce and to help with making her own path forward.
What did they overcome:
She was stressed, emotional, and frustrated that she had ignored her joint financial position for so long. By engaging with us she was able to feel more in control and supported in her own decisions during such a difficult time.
How did I help:
Divorce is difficult in so many ways so the approach to financial advice is different and is completed in small steps. We helped Rose establish her current joint position and worked together with her solicitor to ensure she had a fair settlement.
Once the Settlement had occurred, we wound up her joint SMSF and opened a new simple fund for her to manage ongoing for herself. We set up a budget based on her new financial position and once she has adjusted to reentering the workforce and her new living costs we will be working on how she can use her settlement proceeds to purchase her own property.
What did they learn that I can share:
Asking for help can be hard, but when times are tough knowing someone is on your side and helping you get back on top is the best investment you can make.