Divorce

The first step is to get a clear picture of your current finances. That means gathering information about income, savings, pensions, debts, property, and regular household spending so you understand what you have and what you need to plan for.

It is also sensible to open your own bank account if you do not already have one, check which bills and direct debits are linked to joint accounts, and make a note of any assets or liabilities held in either name. Early financial advice can help you avoid decisions that may weaken your position later.

A fair financial settlement depends on the full financial picture, not just who earned what during the marriage. In England & Wales someone’s needs are prioritised. In Scotland, assets accrued before the marriage are generally excluded, whereas they are often included in England & Wales. The starting point is usually to identify all assets (including inherited assets), debts, pensions, income, and future needs, then consider how those should be divided in a way that is fair, practical and sustainable. Seeking advice from a family lawyer is essential.

Depending on the circumstances, you do not always need to go to court. There are several options available including using mediators and Resolution Together to help work out a settlement instead can be faster, cheaper and less antagonistic.

Courts and advisers will often look at factors such as the length of the marriage, children, income differences, housing needs, and retirement planning. For many women, the key question is not only what is fair today, but what will allow them to be financially secure in the years ahead.

Pensions, savings, and the family home are often the most important assets to review in a divorce. Pensions in particular are easy to overlook, but they are the second largest asset when it comes to divorce. They can represent a major part of long-term wealth and may need careful consideration alongside other assets.

The marital home may be the largest asset, but keeping it is not always the most financially secure option. It is important to weigh up ongoing maintenance, future housing needs, and whether another asset split might provide a better long-term outcome.

Rebuilding your finances is a core part of financial planning after divorce and should begin with a clear reassessment of your overall wealth structure. Rather than focusing on day-to-day budgeting, the priority is understanding how assets are allocated across property, pensions, investments, and business interests, and how these can be managed to support your long-term objectives. This is an opportunity to redefine your financial strategy in line with your personal goals, whether that includes lifestyle changes, succession planning, or intergenerational wealth transfer. 

When considering where you will live, the decision is less about affordability and more about suitability, liquidity, and long-term planning. Retaining or acquiring property should be weighed against how it fits within your broader portfolio, including tax implications, ongoing costs, and whether capital could be deployed more effectively elsewhere.

Whatever your level of financial knowledge, from novice to expert, financial planners can act as your guide during this period of your life and beyond. Particularly where a former partner previously took the lead on financial matters, gaining clarity and confidence over significant assets can feel daunting at first. However, with the right guidance, this transition becomes an opportunity to take a more active and informed role in managing and growing wealth, rather than leaving substantial sums in cash where inflation can steadily erode value.

Yes, but it is important to plan carefully. If you remarry, your financial arrangements may change, and without the right structure in place, assets could end up being used in ways you did not intend.

Many people choose to review their will, pension nominations, trusts, and wider estate planning after divorce and again before remarriage. This helps ensure children from a previous relationship remain financially protected and that your wishes are clear.