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Separation or divorce is an emotionally trying time. Attempting to manage the financial responsibilities that follow can be difficult to handle, especially when there are other equally important matters to consider. A divorce could have a significant impact on your finances, and it could be caused by more than just paying your lawyer's fees. Contact a financial adviser to learn more about financial planning after a divorce.
In separation or divorce we can assist you in
Ending a marriage poses significant financial changes and challenges. While there’s some damage that can’t be undone, proper guidance at each stage of the process can prevent (further) financial damage. With care, you can preserve your current lifestyle and support your new life and future goals.
Based on extensive experience with divorcing couples, here’s how a financial professional can help you at each of the three key stages of the divorce process.
Gather the financial documents and data you need to work effectively with attorneys or divorce mediators. Analyze the potential short- and long-term impacts of different financial decisions and proposed arrangements, helping you understand the impact of different settlement options so you can make informed decisions.
Work with your divorce attorneys to provide the financial analyses and projections they need to help substantiate their negotiating position. Help you establish a budget and manage changes in your immediate financial situation. These changes can result from supporting two households during the divorce process and other circumstances.
Help you with transitioning your accounts and assets, updating beneficiary designations, establishing a new budget, planning for retirement and other milestones, and establishing investment accounts, as appropriate for your situation.No matter where you find yourself in the divorce process today, a financial professional can help make sure the rest of your journey goes as smoothly as possible. If you think you might need any help, get in touch with the office to schedule a no-obligation consultation.