Protecting Your Rights And Your Future

A divorce financial planner could help with the process

On Behalf of | Aug 24, 2020 | Family Law

Arkansas spouses in the middle of a divorce often have difficulty planning their financial lives after the process is completed. They often do not even know where to begin or what questions to ask. One professional that could help is a specialized divorce financial planner.

The divorce agreement is the critical determinant of the type of financial life one will have after the divorce. However, people are often understandably lost in the present moment and cannot think ahead. They miss out on valuable opportunities to secure their future because they do not know what they will need in the years ahead. Overlooking key details can set one’s financial plans back years. On the flip side, a savvy negotiator can achieve an equitable divorce agreement while achieving financial security.

The role of a divorce financial planner

A divorce financial planner will consider their clients’ present and future when giving them ideas that can help them formulate a negotiation strategy. The advisor will dig into their client’s details to get a feeling for that person’s assets, income and expenses. The planner can also point out big-picture items that their client is missing. The goal is for the client to preserve as much of their pre-divorce lifestyle as possible while not setting them back in the future. However, many people do not consult with a divorce financial advisor because they do not even know that such help exists.

Where to start with the divorce process

A lack of focus during the divorce will have negative long-term ramifications. One of the first places to begin after a couple has decided to split is with a divorce attorney. A lawyer could help someone develop an overall divorce strategy. In some cases, this means that the attorney may introduce their client to other specialized experts that can help. Depending on the situation, this may include a financial advisor who can work closely with the lawyer during the negotiations to help position the client for success after the divorce.