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.
High-asset divorce
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.
