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Divorce.
This is always an emotionally and financially difficult time:
- assets are normally split.
- often it means there are new mortgage, protection and savings needs for both people.
- bills and maintenance of lifestyle to which they have grown accustomed could essentially be doubled – as they are now in separate homes.
- if children are involved there is also the issue of child maintenance payments.
- often both people will need to work and will be totally reliant upon providing for their own needs.
For these reasons, this is a key time to ensure both people are fully protected as individuals and also as parents. It’s also important to review pensions and savings arrangements.
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