When most people think of the divorce process, their minds naturally leap to the legal aspect — lawyers, mediation, possible litigation, and unwinding everything related to dividing assets, child support, child custody, etc. The legal aspects of your divorce will deservedly take the lead in most conversations. But don’t underestimate the financial piece. Your family law attorney should be having these talks with you, and more importantly, so should your financial advisor.
Your financial advisor is a critical element to your divorce strategy, as they can offer guidance and strategic planning that assures you emerge from a divorce emotionally resilient and financially secure. Let’s dive into this a bit more in today’s blog post.
This is How Your Financial Advisor Can Help You
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A glimpse into a financial crystal ball
It’s common for a person going through a divorce to be concerned with the here and now. They may even say, “What will this cost me right now?” However, they often don’t understand how their divorce settlement will play out for them months or even years in the future. A competent financial advisor can take current events in your life and create projections that could prove valuable to your future financial security.
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Plan for the unforeseen
To piggyback off the previous tip, a financial advisor can help you during a divorce by opening your eyes to unexpected expenses, changes to your tax obligations, and potential future financial commitments — likely none of which were included on your initial post-divorce budget or monthly income needs.
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Vigilant financial protection
Navigating your divorce can be a complex and emotionally charged process. Financial advisors can step in and act according to your economic interests. This includes everything from scrutinizing settlement proposals to uncovering undisclosed financial information. Their watching eye and objective viewpoint are more critical during a divorce than you think.
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Strategically preserve your settlement
Many people lose sight of the fact that any lump sum from a divorce settlement is meant to help support your long-term lifestyle. As a result, they may spend that money too quickly on vacations, home renovations, etc. A competent financial advisor works with you to create a solid financial plan that stands the test of time. Strategic planning ensures you don’t exhaust your settlement too quickly.
Please call Christman | Daniell Attorneys for your legal needs today!
Looking for family law services in Collin County, Texas? Christman | Daniell Attorneys is your premier choice. With years of experience and a deep understanding of the legal landscape in cities throughout the Dallas-Fort Worth area, our skilled team is dedicated to helping families navigate complex legal matters. Whether it’s divorce, child custody, or adoption, trust Christman | Daniell Attorneys to provide compassionate and effective representation for all your family law needs.
Please consult an attorney for advice about your individual situation. The material on this website and in this or any blog article we publish are for informational purposes only and do not constitute legal advice. The attorneys at Christman | Daniell Attorneys believe in tailoring legal advice and solutions to your own personal circumstances.
We have an unwavering commitment to helping our clients at each stage of their legal situation.