When divorce is inevitable, making the right financial decisions is critical. However, lack of financial knowledge frequently drives people to agree to a divorce settlement they may not fully understand or may regret in the future. Once a divorce settlement has been signed, it is very difficult to change it.
We help clients understand the long-term effects of their divorce settlement. Decisions made during a divorce are often the result of legal negotiations that take place at a time when emotions are at an all-time high. One of the most difficult things to deal with when going through a divorce is separating these emotions from the task at hand.
During the Divorce Process….
How will this divorce affect me financially? This is the most common question that you will ponder throughout this process. Those who are facing divorce are unaware of the outcome of their financial security by the settlement they accept. Settlements that may look reasonable and equitable have tendencies not to remain that way over time. What’s missing in the majority of divorce cases is a qualified financial professional, skilled in pre divorce planning issues, to help you prevent inequitable financial settlements. While Attorneys play a crucial role in the process of divorce, they usually are not trained in the intricate financial details that concern tax issues, IRS rulings, capital gains, dividing pensions, etc. We provide the financial expertise and guidance necessary to help you, and your Attorney, understand these issues, develop creative settlement solutions and evaluate the short and long-term financial impact the settlement will have on you.
At Divorce Financial Solutions, we provide our clients with powerful case exhibits in the form of spreadsheets, graphs and personal financial analysis to show various financial outcomes. We will assist you throughout your divorce case and address your following concerns regarding:
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How will I survive financially?
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What does it mean if I accept this settlement?
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Can I afford the house? Should I sell the house?
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What about our retirement accounts?
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What tax liabilities will I be incurring?
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How much support will I receive?
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Will I have to go back to work?
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How will this affect my retirement?
After the Divorce……
Divorce does not have to destroy your financial future. Even if the settlement was far from adequate, it is what you do after the divorce that has the greatest impact on the rest of your life.
Divorce is often about the past. Financial planning is about the future. A plan that is realistic and achievable can make the difference between a life of fear and vulnerability and one of empowerment and peace of mind.
The success, or failure, of a sound financial plan is largely dependant on the implementation and execution of that plan. We believe strongly in assisting our clients in attaining their goals and achieving financial success after the divorce.