One of the first inklings that a celebrity divorce is in the pipeline is when one half is spotted at a law firm. Yes, getting the money side of things sorted out when it comes to divorce is key, and it seems that Madonna and Guy Ritchie are the latest celebs on the divorce radar, of reports are correct. For many women, a split can be the beginning a financial crisis in itself, so this could be a step in the right direction, no matter how much money you have.
Getting divorced can be a scary, overwhelming and difficult experience and is high on the list of stressful and life changing events, but with the right support it is possible to emerge from this period stronger both emotionally and financially.
Money is often the last thing anyone wants to deal with during such an emotional and tumultuous period, yet it is essential to pay careful and close attention to the financial details of the potential divorce settlement, but for many women it is often the first time in years they have had to deal with their finances on their own.
Not all of us can afford the hotshot lawyers that Sir Paul McCartney and Heather Mills used to battle their divorce, but the next best thing is getting some good, impartial advice about money.
Claire Brinn runs WEALTH?, an independent service that gives women the practical skills to help them face the future with the confidence and the knowledge that they are capable of looking after their money, and feel secure in their ability to look after themselves financially.
In many cases the woman may have left the marital finances to their estranged husband and there may be complicated investment portfolios and pension arrangements to untangle and divid,e which can be difficult to understand.
?Starting a new life after divorce is a time of new beginnings. It is an opportunity to re-evaluate your hopes and dreams for the future,? says Claire, who first experienced the financial impact of losing a partner when her husband died suddenly three years ago.
When she found herself on the receiving end of the financial services industry, having to negotiate with insurance companies set on protracted discussions and, sort through her family’s financial paperwork, while dealing with the emotional aspects of becoming a single parent to two small children.
Claire, who has more than 20 years experience in the financial services industry, realised that there was no-one around to help women like her (or those getting divorced) to deal with their finances that wasn’t trying to sell her anything and realised that women, at all stages of their lives, needed financial mentoring, advice and education, not just to be sold products they may or may not even need.
?Taking control financially can be very empowering and helps re-build your self-esteem and confidence. One of the most important steps you can take is to understand how to make the money you have work for you at all stages of your life and how to plan for a prosperous future as a newly single woman?, says Claire.
WEALTH? is a new concept in financial mentoring created especially for women to help them with their money before, during and after the divorce process. It gives women the tools to take control of their money and provides an impartial, non-judgemental service, providing clear and concise advice.
Taking non-judgemental advice about money is very important and learning how to handle ones finances alone is a big step on the road to independence. It is usually better to side-step well-meaning family and friends who want to ?help? and ?advise? their female relatives with the financial aspects of divorce and take independent advice.
Elaine, who worked with Claire throughout her divorce process, had no idea where she stood financially when her husband left her. She was worried about the future and despite having a fantastic legal team had no idea how to look after herself and her children financially.
?It was a great relief to feel that there was someone there to offer completely impartial financial and support for me when I was going through my divorce.
“Claire has given me tools to look after my money and has worked with me to devise strategies that will make sure my money works for me. I feel empowered with what I have learned and I am now looking forward to planning my future and feel confident that I have the necessary skills to cope?, says Elaine.
Further information
For independent financial advice tailored for women, contact WEALTH?, www.wealthsquared.co.uk
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