Divorce Financial Consulting
Divorce is a serious issue—emotionally, legally, and financially, and many marriages end in divorce. The United States does not have the highest divorce rate in the world, but it does have a higher divorce rate than most other western countries. According to the American Community Survey, 28,818,897 people aged 15 or older were divorced in the United States in 2021.
However, this doesn’t make divorce any easier, and 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. You and your partner need to arrange a divorce settlement; financial professionals can help. A certified divorce financial analyst can help ensure that assets will be divided fairly and give you a realistic idea of what your budget will be after the divorce.
How Can Divorce Affect Financial 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 certified divorce financial analyst can help. Our financial advisor will 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 during the divorce process 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 analyst CDFA 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, and CDFA professionals can help with this.
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.