If you are getting divorced, having your financial advisor review the financial implications of the divorce can help take some of the burdens off trying to figure everything out by yourself. Especially since it may be a very stressful time for you.
You may want to consider alternatives to a contested divorce, including uncontested divorce, mediation, or collaborative divorce, as the cost is lower and both parties may feel more satisfied with the outcome and be more willingly compliant with the Marital Settlement Agreement. Note that these non-adversarial methods are inappropriate for some couples.
Your financial advisor can assist you as you transition to a new financial outlook after your divorce and help you move forward. Whereas before there was one household, now there will be two households to support so the budgeting will need a major reassessment.
Your finances, in terms of new budgeting and expenses, including child support and alimony, moving expenses or real estate transfers or purchases, new savings and retirement planning, revisiting insurance policies including life and health insurance, estate planning updates, beneficiary changes, and new goal planning may all need adjustments.
In addition, your financial planner can assist you in the process of dividing your assets in addition to assisting you with your altered financial planning needs once your divorce is complete.