Janus Financial Services is a specialist IFA practice working with individuals going through a divorce or separation. We are often introduced to new clients by leading Family lawyers across the Yorkshire region. We are very proud to have two of the very few Resolution accredited IFAs working in the practice. There are currently less than 80 IFAs who hold this level of accreditation across the country.

We provide advice to Family Lawyers and their clients on a variety of matters such as:-

• Equalising pension incomes between divorcing couples
• Providing a report on the assets built up during the marriage and the income potential that these can provide.
• A review of a person’s protection needs post divorce such as the cost to insure child maintenance payments.

Resolution is the Governing body for family lawyers and by attending their intense course and successfully passing their examination both Elaine and Robert were able to gain accreditation to demonstrate their understanding of the divorce process.

The accreditation system was instigated to meet the need for the Collaborative Divorce process. This is where a couple agree from the outset not to go to court. They enter into this agreement along with their solicitors so that all parties are bound to the process and have the common objective of reaching a settlement that fits their needs. You can link here to your local Collaboratively trained lawyer across the region.

There are two roles that Robert and Elaine can take in this process, the first being known as the Financial Neutral and the second known as the Implementer.

The role of the Financial Neutral is to attend round table style meetings where the couple attend with their Collaboratively Trained lawyers. The purpose of the meetings is to reach a solution for the couple on all aspects of their divorce. We are present to help take into account the financial structures that the couple had, helping to produce answers to the “What if?” questions that arise at this time and to work together to explore possible solutions to their needs.

An example of the areas covered may be:-

• To break down the complex pension contracts and provide projections of the benefits for both people at their retirement so that a fair division of the income available can be reached.
• Where appropriate, to bring in specialist mortgage advisers to provide mortgage costs so that both parties to the divorce can openly discuss their needs and aspirations for their housing needs after divorce.
• To discuss the tax implication of moving assets after separation has occurred, again where appropriate an accountant will be involved.
• Working with both people to review income and investment objectives from their investments.
• We often discuss the implications for cancelling existing Life Assurance and other protection policies and the costs of replacing them.

The Collaborative Divorce option is definitely not an easy option as couples must face difficult decisions, face to face (with their collaboratively trained Lawyers) and reach a solution that provides them both with an acceptable outcome.

The process is often quicker and helps reduce the animosity that can build up when the more traditional court based divorce route is followed. Where children are involved it is often not the divorce that is an issue but the confrontation they are exposed to during this highly charged emotional time.

We feel that the Collaborative Divorce is an excellent option for the right person. If you would like to know more please contact us.

Whilst we are strong supporters of the Collaborative Divorce process we recognise that it does not suit everyone, the more common route is still to use the court system. We are usually contacted by Family Lawyers when the financial disclosure takes place and we are asked to give an appraisal of the assets and what they can provide for one or both parties to the marriage. We review all financial matters often including pensions, savings and investments as well as life assurance policies such as endowments etc.

The earlier in the divorce process that we can become involved then the greater the opportunity we have of helping you and your lawyer compromise less. No one truely wins in a divorce, dissolving a marriage is a series of compromises that take time and careful consideration to reach, ultimately if both parties are unable to reach a compromise then a Judge will be forced to make the decision for you.

If you are involved in a traditional divorce and would like to discuss your situation then please contact us.