Financial impact on annual retirement income after divorce
First comes marriage, then for some couples comes divorce. But a stable marriage is one of the best paths to building and maintaining wealth. Divorce, on the other hand, is expensive. Possessions, money, financial assets and debt acquired during (and sometimes before) marriage are divided between former spouses. Putting a price tag on a divorce is tricky.
Have you accumulated multiple plans that need reviewing?
Families face a precarious situation if the worst were to happen
Everyone’s circumstances are different, but most people start to think about cover to help protect their family financially once they have children. But research from Scottish Widows reveals that 60% of women in the UK with dependent children have no life cover, leaving their families in a precarious situation if the worst were to happen.
Larger individual wealth and expectation of substantial inheritances
With estate planning, you can decide what happens to your money and possessions – even your pets – if something happens to you. But estate planning is useful in other ways too: it can help you minimise any Inheritance Tax liability and ensure your wishes are carried out in the event of your death or if you need to go into care.
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