Stowe talks

Episode 61: Managing your money during divorce

Stowe talks Season 7 Episode 61

There is a great deal of misunderstanding, and taboo around finances, but it is a topic that will impact everyone going through a divorce. Going from one  household to two, and splitting finances at the point of divorce can be tricky and stressful.

In this episode, Liz Grimshaw, financial planner and co-founder of Revival Financial Planning, talks about how to manage your money during the divorce process, what happens to your money when you divorce and understanding the importance of long-term planning, and educating yourself about money.

01:42 Why it’s important for people to manage their money during divorce

02:49 The main financial worries people have at the beginning of divorce

06:00 Changing how you feel about money and how you use it

07:34 Pension sharing vs the family home

09:05  When’s the best time to approach a financial adviser?

10:47 Working with financial advisers and lawyers together

13:33 Understanding return on investment for advice

16:16 Starting again after divorce

17:25 The impact of money being a taboo topic

19:05 Managing money at the start of the process

23:06 Top tips for managing money during divorce


Pensions and divorce https://youtu.be/2eubp2dUCrE?si=C8WBfszloCHq8aTY 

Ask a family lawyer https://open.spotify.com/episode/4Ql7uKEFMNpE8upJTWCrop?si=43e1aef212384728

Guide to reviewing your financial disclosure https://www.stowefamilylaw.co.uk/premium-content/?type=guide&item=how-to-reviewing-your-financial-disclosure 

How to be financially prepared for divorce https://www.stowefamilylaw.co.uk/stowe-support/top-tips-on-how-to-be-financially-prepared-for-divorce/ 

If you need support with the issues raised in this podcast, or would like to speak to a family lawyer, contact Stowe at: https://bit.ly/35WPSj2

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This podcast is brought to you by the Stowe talks team at Stowe Family Law - https://www.stowefamilylaw.co.uk/