{"id":18335,"date":"2022-10-24T06:30:06","date_gmt":"2022-10-24T05:30:06","guid":{"rendered":"https:\/\/www.emmaheptonstall.com\/divorce-coaching\/?p=18335"},"modified":"2022-10-24T06:24:21","modified_gmt":"2022-10-24T05:24:21","slug":"divorce-finances-when-you-have-ill-health","status":"publish","type":"post","link":"https:\/\/www.emmaheptonstall.com\/divorce-coaching\/divorce-finances-when-you-have-ill-health\/","title":{"rendered":"Taking Charge of Your Divorce Finances When You Have Ill Health"},"content":{"rendered":"

Money and divorce: a combination that gives most people a few additional grey hairs. Knowing what you have, what you don\u2019t and coming to a settlement that feels fair can be seriously hard work. And, unfortunately, it\u2019s even harder if you have ill health. For one thing, your financial situation is likely to be more complex or stretched. And for another, you\u2019re having to do everything while your health is not optimal. At a time you could do with a few more batteries in your system and an extra couple of days in the week, you\u2019ve ended up with less. It\u2019s not fair! Yet, it is what it is. And it doesn\u2019t mean you can\u2019t stay in control. Here\u2019s what you can do to take charge of your finances when you have ill health.<\/p>\n

<\/span>Check how your illness affects your financial situation<\/span><\/h2>\n

If your illness is new, or if you haven\u2019t paid your finances much attention for a while, it\u2019s time for an audit. Having an accurate financial picture is crucial for any divorce. I say \u2018never agree to anything without knowing your numbers\u2019 so often I\u2019m sure regular readers will be rolling their eyes!<\/p>\n

But this advice is especially vital if you have poor health. Your health may already have affected your financial situation. Over time it\u2019s likely your picture will continue to change – for better or worse. So it\u2019s always wise to check in with your current income and expenses. And whether there are untapped funds you may be able to access, whether it\u2019s from insurance policies, pensions, your local council or charitable grants.<\/p>\n

Moneyhelper has a useful guide to potential sources of financial support here<\/a>.<\/p>\n

<\/span>Keep doing what you\u2019re doing<\/span><\/h2>\n

It can be tempting to cut corners to save money, especially as the cost of living rises and with winter approaching. But always prioritise any expenditure on your health.<\/p>\n

When it comes to financial disclosure some women feel nervous about sharing the details of their spending. But spending that supports your health isn\u2019t a luxury. It\u2019s not frivolous, it\u2019s necessary. Don\u2019t skimp on it for fear of what your soon-to-be-ex might say.<\/p>\n

If you and your soon-to-be-ex can\u2019t reach agreement over a financial settlement, you will need to apply for a court order. The court will base their order on what they consider fair. And your health situation will be a factor (more on that in a moment).<\/p>\n

So don\u2019t be afraid of living and spending in line with the needs of your health. The court will want evidence of how your health affects your financial needs, and health-related spending forms a vital part of that evidence.<\/p>\n

<\/span>What the court will consider<\/span><\/h2>\n

When it comes to financial settlements, the court seeks a fair agreement. Of course, \u2018fairness\u2019 is subjective: people can disagree on what it means. So to guide the judge, there are a number of \u2018factors\u2019 listed in Section 25 of the Matrimonial Causes Act 1973<\/a>. These s25 factors all work together to help the judge assess the particular circumstances of your case. Ones that are particularly relevant when it comes to health are:<\/p>\n