When a relationship ends, particularly when there are children involved, it can be an extremely stressful and emotionally-fuelled time. Whether it’s a divorce or separation, we are only human and occasionally our feelings can cloud our judgement about what is best for us
ipac financial planning adviser Carey Allen suggests that meeting with a financial adviser can help clients to get a clear picture of what they want, within the constraints of what the law will allow them. This in turn, will help their lawyer in the settlement negotiation process.
“We try to understand the emotion behind each asset. Clients will form their own hypotheses as to how they want the future to look for them, and what we do is step back to create a few different scenarios with our clients, almost like a decision tree where together we lop off the branches we don’t want and keep those that look good,” said Carey.
In regards to the services offered by ipac in family law situations, Carey said: “The core objective is to separate emotion from the facts about your finances and to illustrate the options that are available to you. It helps the client step back and look, as if they were a third party, on their assets, their options and this can really help uncloud a very confusing situation”.
Many people may drag out their settlement negotiations for months or years, which can be a negative use of time and money.
Emotionally charged battles for tangible and intangible assets can be a time-consuming and lengthy process, however Carey shares that through working with his clients, many have a ‘lightbulb’ moment, where they realise that they are missing out on wealth accumulation, and shift their focus to coming to an agreement in the negotiations phase.
“For every day that goes by there’s an opportunity cost of doing nothing – that’s a decision in itself – it really is a call to action for a lot of people to say ‘well hold on, doing nothing is an action as well,” said Mr Allen.
Making clear-minded decisions in these difficult times, can be highly beneficial and obtaining from a professional financial adviser can often provide the clarity needed for people to feel comfortable making decisions that mean they can get on with their life. Taking a step back, gaining clarity and taking action supported by professional and experienced guidance can be a huge source of
comfort and relief at one of the most difficult times in a person’s life.
we can help
If you, or someone you know, are going through a family breakdown, we can help. Why not get in touch by calling 1800 626 881 or by using the ‘contact us’ tool on our website.