We carried out a review of Mrs Greene’s 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 to sort things out.
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. Mrs Greene felt these were four ‘millstones’ and required assistance on the most appropriate way to deal with these problems..
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 a realistic financial outcome.
Divorce mediation was undertaken with her husband and his advisers to ensure an appropriate clean break and financial settlement was agreed and arranged, as well as assisting with an appropriate debt repayment strategy.
Arrangements for her mother’s long-term care were discussed and agreed.Mrs Greene also needed reassurance that it was not only the right thing for all parties concerned on a personal basis, but also on a financial basis. Her 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 Mrs Greene needed to extract from the property in order to meet her outstanding long-term goals and objectives. We also helped her put together a business plan to develop a new entrepreneurial idea that is a complete departure from her previous venture, and will hopefully ignite her enthusiasm for business once again.
