Services
Divorce Planning
Having to go through a divorce is obviously an unwanted experience but if you find yourself in this situation it’s critical that you consider all your financial options during this process. This is a life changing event and if you don’t properly consider support, property settlement, long term cash flow and tax consequences then you may find yourself struggling financially. As a Certified Divorce Financial Analyst, we have the expertise and resources to consult with you and to prepare a divorce plan to outline a strategic and structured settlement that will financially benefit you. The services we provide are:
Pre-Divorce | During Divorce | Post-Divorce
- Initial consultation regarding divorce
- Financial data gathering of assets, liabilities, budgets, and assumptions. Search for hidden assets.
- Client education regarding the tax consequences of dividing assets, investments, pension plans, and insurance issues.
- Consultation on marital assets vs. separate assets. Financial reporting of marital and separate assets and how to divide the assets.
- Defining long-term financial goals and priorities
- After-tax cash flow consideration of spousal and child support calculations
- Clarifications of the financial and tax issues involved in deciding how to divide assets, i.e. house equity vs. retirement account.
- Working with your attorney or mediator to create the most equitable property settlement, alimony and child support.
- Preparation of a divorce plan to determine the most equitable settlement and the financial long term effects.
- Tax planning and preparation (Determining the most appropriate filing status)
- Financial advise on pension planning, health insurance coverage and residence consideration
- Life insurance needs to cover potential lost alimony and child support
- Valuation of stock options
- Assistance in transferring pension, 401k, and IRA retirement accounts
- Transferring of brokerage accounts
- Update financial plan as future goals change
