What is Divorce Financial Planning?

Regardless of where you are in the divorce process, the reasons for the divorce, or your ability to continue to jointly make decisions; the outcomes of the divorce process will have a big impact on your future well-being. The addition of a trained financial professional to your divorce team can help you have a better understanding of your financial situation and will give you a sense of control over your life before, during, and after your divorce.

As a Certified Divorce Financial Analyst (CDFA) I can add financial objectivity and clarity to an otherwise challenging and highly emotional process.   The opportunity to add value is not dependent upon the divorce option you choose -traditional litigation, -mediation, -collaborative, or even if you plan to -do it yourselves.

Critical financial issues to address during divorce:

  • Realistically assess your financial situation
  • Understand the value of your assets
  • Realize you may not be able to afford the family home
  • Recognize your standard of living may decline
  • Understand the importance of retirement assets
  • Look at several divorce settlement options
  • An adversarial approach to divorce can be emotionally and financially expensive for both the short and long run

Potential areas of focus:

  • Gaining an understanding of your finances and financial needs
  • Working together with your spouse on the financial aspects of your divorce using a financial mediation process.
  • Listing and valuing assets and liabilities such as: your home, investments, retirement accounts and pensions, employee incentive programs, real estate, and businesses etc.
  • Evaluation of community vs. separate property
  • Income, expenses, budgets, and lifestyle analysis
  • Uncovering your interests for the division of property
  • Protecting your financial settlement from unplanned consequences
  • Tax and capital gains consequences of property division
  • Better preparation to meet life events – both challenges and opportunities

Working together, we will start by discussing your goals, values and what is most important to you.  Then I’ll help you prioritize those goals and develop a plan that aligns your vision of the future with your financial situation.

Ready to get started?