Managing money post-divorce – how we help vulnerable wives to move forward

New research confirms that as the number of divorces among the over 55s continues to soar, women in their 50s and 60s lack the confidence to manage their finances following a break-up.

This concern over money management reinforces the findings of a Chartered Insurance Institute study, which stressed how divorce and separation pose a substantial financial risk to women whose former husbands took care of the family finances.

The report outlined how a divorced woman’s pension wealth is less than a third of that of an average divorced man.

The findings also revealed that women in this situation are likely to have more caring responsibilities and to suffer mental health problems.

Divorced women in their 50s and 60s are at an age when major decisions often have to be made on key issues including pensions, investments, property disposal, care planning and inheritance. Understandably, they cannot afford to make the wrong choices.

At Jones Myers, helping vulnerable ex-wives with their newfound responsibilities has always been a priority. We begin by explaining the full range of financial solutions available – in a way that is readily understood by all involved.

In addition to the support we can provide, we work closely with a group of well-respected independent financial advisors.

While family, friends and online resources can often provide good advice, the reassurance of talking face-to-face to an accredited personal finance expert with a strong track record cannot be overstated.

Together, as a team, we can find a resolution to give security and financial confidence for the future.

For more information about financial issues post- divorce or any aspect of family law, call Jones Myers at our Leeds office on 0113 246 0055, our Harrogate office on 01423 276104, visit jm2023.jonesmyers.co.uk, email info@jonesmyers.co.uk or tweet us @helpwithdivorce