Divorce Financial Consulting

Divorce is a serious issue—emotionally, legally, and financially. Though your first thoughts when you and your partner have chosen to divorce may be how you will tell your loved ones or how to contact a lawyer, there is another issue you should give some thought to: finances.

How Can Divorce Affect Financial Plans?

In a divorce, emotions are guaranteed to be running high, and financial assets can become a messy point of contention. This is not an easy situation to work out amid wounded emotions and strong, clouded judgments.
However, the fact is that a divorce means high costs, not just for professional services such as attorneys and court fees but also for living expenses. You and your partner will no longer be sharing expenses, and this means two homes, two insurance plans, and two separate retirement plans.
However, the fact is that a divorce means high costs, not just for professional services such as attorneys and court fees but also for living expenses. You and your partner will no longer be sharing expenses, and this means two homes, two insurance plans, and two separate retirement plans.

How Can Divorce Financial Consulting Help?

Most couples are overwhelmed by the scope of the changes that need to be made, and there are simply too many emotions attached to the issue to make effective plans. This is where our financial consulting can help you work through the emotions to handle polarizing financial decisions on how your assets will be split and help both you and your partner to make the smart choices that will ensure you can live your lives without financial issues or the shadow of the divorce hanging over you.

Making Plans for the Future

The biggest financial issue most couples face in a divorce is how they can still retire comfortably. In many cases, preexisting retirement plans simply will not work without major delays and change.

Our divorce financial consultants can help to adjust your plans to account for the new changes and expenses your retirements will face, and make new plans for how you can retire comfortably.

Financial consultants can examine existing pensions and retirement plans as well as the value of assets and determine what needs to change. In many cases, the division of assets may have unexpected consequences, such as the tax implications for early withdrawals from an IRA. This requires careful planning to maximize the returns for both parties and divide assets not only equitably but effectively.

By working through the emotions and projecting future rates of return against new expenses, our financial consultants can help develop a budget and plan for how future financial goals can be met. This helps make sure that your future, especially your financial future, continues to look bright.

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