Your lawyer is trying to help you and they understand the benefits of planning ahead. Having worked with many people in your situation the benefit to you in seeking advice is likely to include:
- Helping you to understand the details of your current financial situation;
- Identifying a plan for how you will generate the income to pay for your living expenses after settlement;
- Giving you the information you need to reorganise or simplify some of the existing investments;
- Answer other questions you have; for example:
- Is continuing to hold the rental property or the family trust a smart decision?
- Will my existing assets generate enough income? When can I access my superannuation?
- Is it worth maintaining an investment loan given the family income may reduce?
- Looking at a few financial illustrations of the options you have so you can choose the best path forward.
- Assisting you and your lawyer to design a settlement option which meets your current and future needs. Too often one party comes away feeling like a winner to later realise there might have been a better way.