Helen, aged 48, had received a substantial divorce settlement.
Seeing as she had little understanding of her position, she needed an adviser who she could connect with and trust. Helen wanted to ensure that the money received in the divorce settlement supplemented her income and provided her with a pension in the future. The money left to her four children was allocated separately.
What did we do?
As a new client, we began the process by getting to know Helen through a face to face meeting: her needs, goals and aspirations. We also completed a fact find to assess her financial circumstances and a risk questionnaire to assess her tolerance to risk.
Helen purchased a house and was advised to open an Offshore Bond to minimise her tax liability and maintain her tax credits. An investment manager was appointed to manage the assets in the Offshore Bond, SIPP and ISA and to ensure the Capital Gains Tax allowance was used each year.
We ensured she had two years of income requirements deposited in cash via various deposit takers and purchased physical gold sovereigns. She was introduced to one of our preferred lawyers to draft new will, LPA (lasting powers of attorney) and consider a cohabitation agreement.
Helen now feels much more in control of her situation. Having someone she can trust to manage the financial side of her divorce has given her much-needed peace of mind.
We have worked with Helen on an ongoing basis, advising her through important financial decisions: when she wanted to lend money to her new partner to purchase a property, it was recommended that this was done via a trust to ensure ownership of monies lent.