In this episode, Kate was joined by Louise Oliver to discuss sorting out your finances when you get divorced and the value a financial planner can add to this process.Louise has worked in the financial services sector for over 30 years and is a Certified Financial Planner and a Chartered Wealth Manager. Throughout her career, she has regularly featured as a financial expert in the media, including BBC breakfast TV, BBC radio 4, Moneybox and local radio. Louise also appeared as an expert for a BBC Panorama and has won awards for Female Financial Adviser of the Year (South West) and Role Model of the Year in Financial Services. Louise enjoys working with families and individuals to help them to navigate through life’s changes. A particular focus has been with regard to divorce, business sales and bereavement. This is a longer episode full of tips and advice on finances and divorce. Kate and Louise start by exploring how a financial planner can help during a divorce and the importance of each person really understanding their current financial situation at the outset of the process, to make better-informed decisions about any proposed settlement. Louise talked about the work a planner does to ‘stress test’ potential settlements and looking at what is needed to ensure money lasts a lifetime rather than just the near future. Other topics they covered were; business valuations, considering life insurance if maintenance payments are being paid, the notion of 'fair' and financial abuse.
Please note: this episode was recorded before the introduction of no-fault divorce in England and Wales, and may mention the previous legal system. For accurate information on the legal process of divorce, please visit amicable.co.uk