Divorces are complicated and tedious, even under the most amicable circumstances.
Between living arrangements and separating personal lives, there’s money. Divorce brings special financial considerations. Seeking divorce financial planning is a sound and common decision in Virginia.
When a Lawyer is Not Enough
Divorce attorneys handle most of the issues in a divorce. They negotiate the separation of assets, the division of custody between parents, and legalities of any formal course of action. And while they are vital, they usually cannot forecast financial and tax consequences of divorce settlements.
A Certified Divorce Financial Analyst (CDFA) can appraise you of financial implications that your lawyer may be unaware of.
The Purpose of Divorce Financial Planning
Divorce financial planning obviously makes a great deal of difference in terms of taxes. However, there are other areas where a CDFA can be instrumental. These include:
- Splitting up a family business.
- Determining the value of family home & property.
- Assessing value of assets and debts.
- Alimony & its tax implications.
- Budgeting for post-divorce life.
Additionally, divorce financial planning cuts down on stress and uncertainty. In divorce, spouses can sometimes get hung up on a certain number or idea of what they’re entitled to. A good financial planner experienced with divorce creates realistic expectations. On the other hand, other spouses intend to be generous and end up hurting themselves in the long run.
Divorce Financial Planning in Virginia
If you’re facing divorce, consider the advantages divorce financial planning can offer your family. Contact the knowledgeable and experienced professionals at Argent Bridge Advisors today to discuss your needs.