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Dealing with life’s difficulties

Mrs Greene (all names have been changed): Following our ongoing review of her personal circumstances and current financial plan a few years ago, it became clear that there were several issues in her life that needed to be addressed and she needed assistance in order to deal with these issues and move on to the life she wished for herself.

These issues were a failing business; a husband who had not worked for five years and was a negative influence on her life; an abusive mother who lived with her and had failing mental health; and a property that was a significant drain on the family resources given these current circumstances. Mrs Greene felt these were four “millstones” and required assistance on the most appropriate way to deal with these issues.

With regard to her business, assistance was provided in dealing with her staff, explaining the business issues that existed and mapping out an appropriate exit strategy. The strategy included negotiations with existing debtors and creditors in order to release her from the business with dignity but also with a realistic financial outcome.

Divorce mediation was undertaken with the husband and the husband’s advisers to ensure an appropriate clean break and financial settlement was agreed and arranged, as well as assisting the client with an appropriate debt repayment strategy.

Arrangements for her mother’s long term care were arranged, discussed and agreed with the client, but emotional assistance was required during a very difficult time for the client as well as reassurance that it was not only the right thing for all parties concerned on a personal basis but also on a financial basis. The client’s relationship with her mother improved significantly once she settled into her new environment.

Finally the sale of the property was completed with a clearly defined financial structure explaining what value the client needs to extract from the property in order to meet her outstanding long term goals and objectives. Hand in hand with the sale of the property was the assistance given in obtaining planning permission, technical drawings and an appropriate strategy for converting an outbuilding on her property into her new permanent residence along with a business plan to develop a new entrepreneurial idea that is a complete departure from her previous venture to ignite her enthusiasm for business once again.