Event driven female financial planning – Widows
If you become widowed, or have been for a while, you may need to deal with your finances on your own for the first time.
This can be daunting and have stressful aspects to it.
At this stage, advice and help can be critical and exceptionally beneficial. Not just in terms of helping you to cope and make good decisions, but also in supporting you as you may need to deal with certain legalities, such as probate.
Finances can be very different after a death, in many ways, and the loss of a partner is devastating. Over and above the emotional aspects, it can impact the household income, retirement plans and more.
Kealy is able to support you through all the trials and tribulations, the challenges and the needs you will have for quality support in such a scenario.
Event driven female financial planning – Divorce
A divorce is stressful enough without the complexities of trying to understand the financial implications and challenges.
But the financial picture is inevitably a central part of what needs to be managed during the divorce process and after.
The new divorce rules introduced in 2022, have some impact on how this may be tackled, as it introduced both the no-fault legislation and a new 20-week reflection period in the divorce timetable.
The temptation when dealing with this situation is to focus on the ‘deal’, the separation agreement, and the desired financial order. This is important, but it should not be focused on exclusively as a short-term matter.
You need to understand the potential long-term consequences of the marriage ending, as well. The divorce may completely throw previous plans into the air, altering retirement prospects, children’s protection against the death of the other parent, and the property and living position.
In particular, when the focus could be applied to spousal and/or child maintenance, it is important to look further ahead and to understand how the divorcee is going to afford to retire, and this needs to be an added factor when considering what to seek from a financial order and what will happen thereafter.
Having an empathetic and quality financial expert, such as Kealy, in situ as you go through this difficult time, will allow you to find the right pathway, both short and long term
Event driven female financial planning – Remarriage or a New Relationship
If you are entering into a new relationship, maybe moving to live with a new partner, or remarrying, then there can be immense complications in how you arrange your finances. Complications around property, children, step children and so on.
This can extend to inheritances and many other aspects.
Whatever your wishes and desires, there is likely to be a financial planning solution. For example, if you wish to protect your finances and your estate for your children, either exclusively or primarily, this can be arranged. But it might need the use of certain wording in a Will or putting in place some simple trust mechanisms.
Bringing together the financial needs of two parties, or bridging their individual needs or wishes, can involve some specific financial steps.
If you are in this position, then Kealy’s expertise will be invaluable.
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