Money can take a toll on a relationship. Even when a couple has plenty of it, money is a frequent culprit for getting a divorce. And when the marriage dissolves, money can play a major role in the difficulties and challenges the divorce process brings. Asset division is a highly contentious divorce issue, making it important that you are aware of the marital finances and the assets that are up for division.
While financial planners are beneficial when making investments or planning for the future, they are also a useful tool during a high-asset divorce. Because a divorce brings forth issues in the immediacy and down the line, a financial professional can assist with the short and long-term financial issues the divorce could cause one or both spouses.
Divorce financial advisor
Decoupling assets can be a complex process, and a divorce financial advisor has the experience and credentials to navigate the financial aspects of divorce. Many aspects go into a divorce, and a financial planner that specializes in divorce can help a spouse better understand tax ramifications and other costs.
Although distributions might look equal or equitable on paper, this may not be the reality when it plays out in real life. A divorce financial advisor can assess the full picture, establishing whether one spouse might fare better than the other once everything is considered.
Getting a divorce is hard, so it is understandable that adding another professional to the process can feel overwhelming. Nonetheless, a divorce financial planner could help ease the process that is already complex and emotional. As such, it is important to consider how best to navigate your divorce legal issues. A legal professional can help you better understand your situation and options available.