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- Managing complex finances after divorce
After divorce, Victoria found herself managing a demanding career, two children and increasingly complex finances. She needed a plan for what came next.
After a difficult divorce, Victoria (44) was rebuilding her life while balancing a demanding career with bringing up her two children (7 & 10).
She was earning a six-figure salary, with bonuses and RSUs (Restricted Stock Units) adding to her income and had recently bought a new home. But with two mortgages, childcare costs, tax bills, investments and savings to keep track of, her finances had become increasingly complex.
“I’ve never taken financial advice in my life. I’ve got shares vesting, tax bills landing, two mortgages, childcare costs, savings here and there. I genuinely have no idea what I’m doing.”
For the first time, Victoria was making all the big financial decisions on her own. She knew she was in a good position but wasn't sure how everything fitted together or whether she was making the right choices for herself and her children.
Victoria wanted a clearer picture of where she stood financially and how to make the most of her position.
She had questions about her RSUs and the tax implications when they vested, as well as whether her pension contributions were right for her. She also wanted to start putting a plan in place for her children's future.
Following her divorce, her financial circumstances and priorities had changed considerably. She wanted to understand what her finances could support, what she could afford to save and invest, and what she needed to do to work towards her longer-term goals.
“I think what I really need is just a plan. Someone who understands all of this so I can focus on my life, my kids, my career.”
We started by building a detailed cashflow model to bring everything together and show Victoria how her finances could develop over the years ahead.
The results were reassuring. Despite the complexity of her finances, Victoria was in a stronger position than she had realised. Based on her current circumstances, there was a potential route to financial independence by age 55.
With a clearer picture of the future, we could then focus on the individual decisions she had been struggling with.
We reviewed her RSUs as part of her wider investment strategy and considered how best to manage them as they vested. We also reviewed her pension contributions and charges and looked at how her savings could be structured more effectively.
Alongside her own financial goals, we explored ways to build towards her children's future, including Junior ISAs and the possibility of helping them with future house deposits.
Bringing everything together gave Victoria something she had been missing: a clear plan she could use to make financial decisions with greater confidence.
Victoria now has a financial plan that brings together her income, investments, pensions and savings, giving her a clearer direction for the years ahead.
Rather than having to make each decision in isolation, she can see how choices around her bonuses, vested shares, pension contributions and savings fit into her wider financial plan.
As her circumstances change, the plan can change with them helping Victoria make informed decisions about her own future while continuing to build towards the goals she has for her children.
Client name has been changed to protect her identity.
This case study is intended as illustrative purposes only, it does not constitute individual advice and should not be used to inform financial decisions.
They are based upon our understanding (at the time of advice) of current law, HM Revenue and Custom's practice, tax rates and exemptions, which are subject to change.
A pension is a long-term investment not normally accessible until age 55 (57 from April 2028 unless the plan has a protected pension age). The value of your investments (and any income from them) can go down as well as up which would have an impact on the level of pension benefits available.
The Financial Conduct Authority (FCA) does not regulate cash flow planning, estate planning, tax or trust advice.