Do I Need a Financial Specialist to Help Secure a Good Divorce Settlement?
One of the largest challenges of ending a long-term marriage involves trying to figure out how to divide the property equitably. While financial decisions are always difficult, they become more complex for couples dividing high-asset estates and/or dealing with issues pertaining to family businesses or a host of other concerns. As a result, many experienced divorce attorneys recommend seeking analysis and guidance from a financial specialist.
The right financial specialist can help you plan effectively for the divorce and guide you through the entire process, with the goal of helping ensure you start your new life with a clear understanding of how to move forward financially. The Institute for Divorce Financial Analysts cites a number of reasons why you might want the support of a financial specialist:
- To help you understand your financial issues and make plans before you start settlement negotiations
- To provide guidance during negotiations by helping you focus on the potential personal finance and tax ramifications of any decisions you make during the negotiation process
- To forecast the long-term financial effects of a proposed settlement agreement
- To help you budget for the future and avoid surprises
- To help reduce the stress of divorce by providing you with a clear understanding of the issues that are most important to you and clearing up any misconceptions
If you choose to pursue a collaborative divorce, your attorney will likely include a financial specialist as one of the professionals you need to guide you toward successful negotiations. While virtually essential for division of property that involves high asset estates or other complex circumstances, a reputable financial analyst can provide many benefits regardless of your assets. An experienced divorce lawyer can recommend a skilled financial professional — and tell you when you need the extra help.