A relationship breakdown is never easy to navigate. As well as emotional challenges, there might be complex financial obstacles you need to overcome. While sitting down to discuss your financial plan might be the last thing on your mind, doing so could offer much-needed clarity and a sense of control.
So, if you’re going through a break-up or divorce, here are three ways we could support you.
1. A review could help you assess your financial situation now
Changes to your relationship status often mean a shift in your day-to-day finances. Understanding your current financial situation could help you feel more confident as you make short-term decisions.
Often, people going through a relationship breakdown find their household income has fallen and their outgoings have increased.
A survey from Legal & General published in April 2025 found that 24% of women and 16% of men struggle financially following a divorce. Living alone was cited as one of the biggest challenges when managing expenses. Indeed, 63% of women and 39% of men said they felt the impact of losing financial support.
So, taking some time to adjust your budget with your financial planner could keep you on track financially and avoid potential risks, such as overspending.
2. A financial plan provides an opportunity to consider your long-term goals
When a relationship ends, you might be more focused on meeting your short-term needs. However, once you’re financially secure, it’s important to consider your future.
Often, a break-up doesn’t just alter your finances, but what you want to do in the long term.
You may have made plans with your former partner that aren’t appealing or possible anymore. Alternatively, you might have put goals to one side during your relationship that you’re now ready to pursue again.
A financial plan provides an opportunity to think about what you want to get out of life by:
- Evaluating your long-term goals
- Deciding what your financial priorities are
- Highlighting potential risks or concerns you want to mitigate.
With a clearer picture of what you want, you can start to build a financial plan that’s tailored to your aspirations. While a break-up can be painful, it’s also a chance to assess what you want and how to achieve it.
3. We could help you update your estate plan
Amid everything else you need to do when navigating a relationship breakdown, updating your estate plan can be easy to overlook. Yet, it is a crucial step that could leave you in a difficult position if you skip it.
An estate plan sets out how you’d like to pass on your assets during your life or when you pass away. It may also cover areas like planning for long-term care in your later years or who will handle your affairs if you’re unable to do so.
When you’re in a relationship, your partner is often an important part of your estate plan. As a result, it’s important to review how your wishes may have changed following a separation.
Key steps you might take include:
- Updating your will
Your will sets out who you’d like to inherit your assets when you pass away. When you get married, previous wills are revoked, but this isn’t the case when you get divorced.
If you forget to update your will, it could mean your estate or a portion of it is passed on to a former partner and potentially disinherit your intended beneficiaries. While you can update or write a new will yourself, the skills of a solicitor may be valuable, especially if your circumstances are complex.
- Checking your pension expression of wish
Your pension isn’t typically covered by your will. Instead, you complete an “expression of wish” form to inform the provider who you’d like to receive your pension if you pass away. So, when you’re updating your will, checking who each of your pensions could go to may be important.
- Reviewing your Lasting Powers of Attorney
Lasting Powers of Attorney (LPA) gives someone you name the ability to make decisions on your behalf if you lack the mental capacity to do so
If you’ve previously named your partner as your attorney and this is no longer your wish, you’ll need to send a “deed of revocation” to the Office of Public Guardian.
- Amending financial protection
In the past, you may have taken out financial protection, such as life insurance or family income benefit, that named your ex-partner as the beneficiary. Taking some time to review your existing financial protection could help you assess if it’s still suitable for your needs and if the beneficiaries are correct.
A financial plan could give you confidence in the next chapter of your life
A financial plan isn’t about growing your wealth, it’s about having confidence in your finances. During a breakdown when things can seem uncertain, working with a financial planner could help you regain control and start moving towards your long-term goals.
If you’d like to arrange a meeting with one of our team, please get in touch.
Please note: This blog is for general information only and does not constitute financial advice, which should be based on your individual circumstances. The information is aimed at retail clients only.
The Financial Conduct Authority does not regulate estate planning or will writing.
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