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What Can My Financial Advisor Do for Me in My Divorce?

Posted by Unknown | Jul 16, 2020 | 0 Comments

what can my financial advisor do for me in my divorce

Drama-Free Divorce provides support for those searching for answers to the question "What can my financial advisor do for me in my divorce?" At Drama-Free Divorce we provide affordable financing options starting at $500 a month that are specifically tailored to the needs of residents of Missouri and Kansas in the Kansas City area. Our pricing structure eliminates any surprises by eliminating unexpected costs as well as the stress associated with court appearances - you can count on our experienced legal team during this trying time to help support you during it all.

Divorce can be an emotional journey. Hiring a financial adviser during divorce can provide invaluable support. In this article, we'll explore the benefits of hiring one and what financial concerns arise, as well as how can a financial advisor assist you.


Do I Need A Divorce Financial Advisor?

Divorce can be an emotionally exhausting process. Not only must you deal with separation, but you must also manage debts and plan for a new financial future. Perhaps you are asking, "Do I really need a financial advisor?" and here's why they may help:

Divorce can leave finances disjointed as well, and having the expertise and guidance of a financial advisor during a turbulent journey can be invaluable in protecting both parties financially. They have the knowledge to ensure your accounts, assets, or complicated documents are divided fairly while liabilities are effectively managed. Serving as your financial GPS along the way.


Top Financial Concerns in Divorce

Understanding of the financial implications of divorce is integral to managing it successfully and is one of the primary concerns people encounter. Here are some common financial worries.

  • Property Division: Who should inherit that house, car, or antique clock you both shared together? Dividing property can often be emotionally charged and legally complex.
  • Spousal Support (Alimony): Determining spousal support often involves an analysis of both parties' financial situations - which is often contentious.
  • Child Support: Ensuring the financial well-being of your children is of utmost importance, yet calculating child support, medical costs, and educational costs can be complex.
  • Debts And Liabilities: Who is accountable for paying the mortgage, credit card debt, and any other liabilities? This financial burden needs to be distributed fairly.
  • Tax Implications: Divorce can have significant tax repercussions. To properly plan for its impact, it's crucial that you understand these implications and plan for them appropriately.


How Financial Advisors Can Assist During Divorce?

An experienced financial advisor will be able to address your concerns and offer clarity, including:

  • Financial Analysis: They will conduct an in-depth examination of your financial situation, helping to understand both assets and liabilities.
  • Asset Valuation: Determining fair market values of assets such as homes, businesses, or investments.
  • Budget Planning: Draft a post-divorce budget that will ensure financial security after separation or divorce.
  • Tax Implications: Assistance in developing strategies that minimize the effects of taxes upon divorce.
  • Negotiation Support: Assist with negotiations in order to help reach an equitable agreement.
  • Expert Witness: Should your case go to court, an expert witness testimony could provide invaluable support.


Why is hiring a divorce attorney better than without an attorney?

Financial advisors and divorce attorneys can be great sources of advice when it comes to your finances during a divorce. Here's why:

  • Legal Expertise: A divorce attorney specializing in family laws will understand all of the legal aspects surrounding your situation, defending and upholding your rights.
  • Mediation and Advocacy Services: They can serve as mediators to reduce conflict and facilitate a smoother procedure between you and your spouse.
  • Knowledge of State Laws: Divorce laws vary between states. Divorce attorneys understand which laws pertain to your particular case.
  • Documentation and Filing: Confronting complex paperwork while also making sure all legal documents are filed on time is essential to successful administration.


When should you hire an attorney?

As soon as you decide to divorce, it is advisable to hire a divorce attorney as quickly as possible. Seeking legal guidance early will enable you to better understand your options and rights - don't delay hiring one even if you are already engaged in a divorce proceeding!


What are the qualities of a good lawyer?

Selecting an attorney that best fits your needs is very important, so here are a few factors you should keep in mind:

  • Experience: Select an attorney with experience handling divorce and family law cases.
  • Reputation: Research reviews about your chosen firm and enlist the help of friends and family for recommendations.
  • Communication: Be certain your attorney understands and meets your needs while offering effective communication channels.
  • Compatibility: Your attorney should make you feel secure and confident.
  • Cost: To avoid unpleasant surprises, discuss fees and payment arrangements upfront.


Why Choose Drama-Free Divorce?

Drama-Free Divorce takes great pride in being your choice for all of your divorce needs. Our expert team of family law attorneys offers you unparalleled representation. We are dedicated to upholding your rights, with an impressive track record in winning cases. Additionally, our transparent pricing structures and tailored services meet individual client requirements perfectly.


Suggestions to Consider

  • To ensure optimal financial planning and comprehension, it is advisable to seek an experienced financial advisor.
  • Consult a family law attorney for assistance during your divorce proceeding in order to protect your rights and receive expert guidance throughout the process.
  • Compare attorneys based on experience, reputation, and cost in order to select the ideal attorney for your needs.
  • Reach out to our firm to discover more about how we can assist with your divorce proceedings.

Divorce doesn't need to be stressful; with the appropriate support in place, it can become less so. Consult a financial adviser or experienced divorce lawyer when making decisions and seek their advice when necessary. Contact us today at 816 615-5555 or send us an email on our Contact Page.

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