Divorce Financial Planning
Divorce Financial Planning puts you in a position of financial strength
Divorce can be really complicated, whether you were the “money” person in the relationship or not. But if you were not, it can be even harder! Divorce Financial Planning is a great way to find clarity in the chaos. With my help, we will identify your income and your expenses (possibly now, and post-divorce). There are a lot of expenses that we pay that are not necessarily every month and that are easy to forget! I will help you identify them all so that when you are trying to determine the income/support that you need, we are really including all of your expenses.
I will help you identify your assets that may be up for division. Divorce really boils down to dividing what you acquired from the date of marriage, through the date of separation, and if you were not aware of all the accounts that were opened, or where your money was invested or saved, you will not know what there is to divide. I will help you collect the information and documentation you will need to fairly negotiate for yourself.
Divorce Financial Planning also analyzes various settlement options to determine what the tax ramifications would be for each. We look at the settlement options not just for the next one year, but for the next 10 years or 20 years. If a plan looks great for 1 year, but horrible after 5 years, then that is really NOT a great settlement option.
Divorce Financial Planning puts you in a position of financial strength! Planning can be done individually or as a couple.
Here are some of the financial issues that we review and analyze for you:
How much support do I need? And for how long?
What work benefits might you be losing in the divorce (ie health insurance)?
Should you keep the house?
How are retirement accounts divided?
How is a pension different from a 401k?
Creating a budget you can live with.
Assessing different settlement options for financial stability over the long-term.
What are the tax implications of various property division options?
In addition to the analysis above, we will also discuss your financial goals. I find that many people going through divorce can barely see tomorrow, much less 10 years from now. But part of successfully getting through divorce is creating a picture of what you want your life to look like on the other side. What do you want to do? Do you want a career? Change careers? Move away? Start a business? There is really no limit to what you can do! But it’s so important to understand and create your picture so that in the process of divorce financial planning, we can create strategies to help you create the life you want! We don’t want to just help you survive divorce, but to thrive in life!
Our job is to create financial stability for you and your children, and to empower you to move forward with understanding, and financial peace of mind!