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You don’t have to navigate major financial decisions alone.
Life can change unexpectedly, bringing financial decisions you may not have anticipated or previously needed to make on your own. Whether you’re adjusting to life after divorce, dealing with the loss of a spouse or managing an inheritance, understanding your financial position is an important first step towards planning your future. At Garden Route Life & Investment Brokers (GRLI), we provide independent financial advice to help you review your circumstances, understand your options and approach important financial decisions with greater clarity.
Our specialist advisers can assist with investment planning, retirement considerations and reviewing existing financial protection arrangements, while working alongside appropriate legal or estate specialists where needed.
What financial matters should I review after a divorce?
After divorce, it is important to reassess your income, living expenses, savings, investments, retirement arrangements and existing insurance cover. You may also need to review beneficiary nominations and estate-related financial arrangements. A financial adviser can help you understand your changed financial position and plan ahead, while legal matters and settlement requirements should be addressed with your legal representative.
You Can Approach Important Financial Decisions at Your Own Pace
When life changes, it can be difficult to know which financial decisions need immediate attention and which can be considered more carefully. You may be receiving advice from family members, dealing with unfamiliar documents or trying to understand financial arrangements previously managed by someone else.
You do not need to have every answer before speaking to a financial adviser. A financial planning conversation can help you:
- Understand your current financial position.
- Identify existing income, assets and financial commitments.
- Review investments and retirement arrangements.
- Consider changes to your family’s financial protection needs.
- Identify decisions that require further professional advice.
- Develop a clearer understanding of your longer-term financial priorities.
Some financial, legal or administrative decisions may have important deadlines. An adviser can help identify matters requiring timely attention while allowing you to consider other choices without unnecessary pressure.
Request a Financial Review
What Would You Like Help With?
Understand Your Financial Position
Not sure where to begin with your finances?
A significant life change may require you to review your income, expenses, savings, financial responsibilities and longer-term goals.
A financial planning review can help you understand what you have, what you need and which decisions should take priority.
Review Inherited or Settlement Funds
Need guidance on managing a lump sum or existing investments?
Receiving an inheritance or financial settlement can create important investment decisions.
Before investing, it is worth considering your financial commitments, immediate cash requirements, investment timeframe and tolerance for risk.
GRLI’s investment specialists can help you assess available options in relation to your financial goals.
Reassess Your Retirement Plans
Have your retirement goals or financial circumstances changed?
Divorce, bereavement or receiving an inheritance may affect your retirement savings, expected income and longer-term plans.
A retirement planning review can help you understand how these changes may influence your financial objectives and whether your current arrangements remain appropriate.
Review Your Estate & Legacy Arrangements
Do your existing arrangements still reflect your wishes and family circumstances?
Changes in family relationships, ownership of assets or financial responsibilities may mean that your estate-related financial arrangements need attention.
Reviewing beneficiary nominations, estate liquidity and related financial planning considerations can help identify matters requiring input from appropriately qualified legal or estate specialists.
Review Your Existing Financial Protection
Are your insurance and protection arrangements still appropriate?
A significant life change may affect who depends on you financially and the level of protection you require.
Reviewing life cover, income protection and existing policy beneficiaries can help identify arrangements that may need attention.
When Life Changes, Your Financial Priorities May Change Too
Major life changes can affect your income, investments, responsibilities, and longer-term financial plans. You may suddenly need to make decisions about savings, property, retirement benefits, or family financial arrangements. GRLI can help you understand your financial position and identify the matters that deserve attention.
Financial Planning After Bereavement
Adjusting to life after the loss of a spouse or loved one?
Losing someone close can bring unexpected financial responsibilities at an already difficult time.
You may need to understand household income, existing investments, insurance arrangements and how your financial position has changed.
An adviser can help you organise relevant financial information, review your longer-term needs and identify where specialist legal or estate guidance may be required.
Financial Planning After Divorce
Need to understand your financial position after separation or divorce?
Divorce can significantly change your financial circumstances.
You may need to reconsider your income, living expenses, investments, retirement arrangements and existing insurance cover.
An independent financial review can help you understand your position and identify planning priorities, while your legal adviser addresses the legal aspects of separation and any settlement.
Financial Planning After an Inheritance
Received an inheritance and unsure what to do next?
An inheritance may change your financial circumstances and create new opportunities or responsibilities.
Before deciding how to use inherited funds, it is worth reviewing your existing financial position, current commitments and longer-term goals.
A financial adviser can help you consider relevant investment and financial planning options once the funds or assets are legally available for you to manage.
FAQs About Financial Planning After Major Life Changes
How can I get financial clarity after the loss of my spouse?
Start by gathering information about your household income, bank accounts, investments, insurance policies, debts and regular expenses. It may also be necessary to establish which financial arrangements are affected by the estate administration process. An independent financial adviser can help you understand your available resources, review future income needs and identify financial decisions requiring specialist assistance.
What should I consider before investing inherited money?
Before investing inherited funds, consider your existing financial circumstances, immediate expenses, debts, emergency savings and longer-term financial goals. Your investment timeframe and tolerance for risk are also important. A financial adviser can help you explore suitable investment approaches once the inherited assets or funds are legally available, while relevant tax and estate considerations may require specialist advice.
Do I need to make immediate changes to my investments after a major life event?
Not every financial arrangement needs to be changed immediately after a major life event. However, some decisions may involve important legal, financial or administrative deadlines. A financial review can help distinguish matters requiring timely attention from longer-term investment decisions, allowing you to consider appropriate changes with a clearer understanding of your circumstances and options.
Can I get a second opinion without changing my existing financial adviser?
Yes. You can request an independent review of your financial arrangements without automatically moving investments or changing advisers. A second opinion can help assess whether your current financial plan, investment portfolio and protection arrangements remain aligned with your needs. You can then consider any recommendations before deciding whether changes are appropriate.
How can a financial adviser help me after receiving an inheritance, divorce settlement or life insurance payout?
A financial adviser can help you review your financial position, understand your income requirements and assess investment or protection needs following a significant financial change. The review may consider your immediate priorities, existing savings, retirement goals and risk tolerance. Depending on your circumstances, your adviser may also recommend involving legal, estate or tax specialists before particular decisions are made.
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Already Have a Financial Advisor or Trusted Professional?
You may already have an accountant, attorney or financial adviser assisting with aspects of your situation. Seeking an additional perspective does not mean those relationships need to change.
GRLI can help you review your wider financial position and identify where investment, retirement or protection arrangements may need reconsideration. Where appropriate, and with your involvement, our advisers can work alongside existing professionals to help ensure relevant financial planning matters are considered.