In the divorce phase of life, clients seek our services for these reasons:
- Personal and Financial Guidance: Regardless of age or gender, clients need tailored personal and financial advice during this challenging time. This includes strategies for managing assets and navigating the emotional complexities of divorce.
- Pre-Divorce and Active Divorce Support: Clients require assistance with planning before and during the divorce process, including asset selection strategies, budgeting during separation, and effective negotiating techniques.
- Post-Divorce Transition: After the divorce, clients need support setting up new accounts, managing asset movements, and adjusting their budgets for both near-term and long-term retirement planning. Additionally, career or goal planning may be necessary.
Our financial therapy-led approach to planning and advice allows us to support and empower you during this difficult life transition. Let us know how we can serve and support you during this time.
Jennifer
Jennifer, 45, is navigating a significant life transition after 17 years of marriage. As a former district attorney who has been a homemaker for the past 9 years, she finds herself in the midst of a divorce. She and her soon-to-be ex-husband jointly own multiple commercial properties and have substantial investments held in various trusts. They have three children, aged 9 to 14. Jennifer is familiar with the family’s investments but is concerned that their current financial advisor may not fully represent her interests.
Jennifer seeks to ensure a secure future for herself and her children, beginning by gathering all necessary documents related to their jointly owned assets. A family law attorney has advised her to consult an independent financial planner to ensure a fair division of assets and to navigate the complex financial landscape of her divorce.
Needs:
- Unbiased Financial Analysis: An objective evaluation of her financial situation to ensure her interests are represented and biases are addressed.
- Comprehensive Asset Evaluation: A thorough assessment of properties and investments, considering market trends and risks.
- Legal and Financial Guidance: Assistance with legal aspects of divorce, including tax implications, asset valuation, and equitable distribution.
- Strategic Financial Planning: Development of a financial plan based on Jennifer’s goals, current situation, and future aspirations.
- Advocacy and Support: Assistance throughout the divorce process, including communication with her attorney and expert opinions during negotiations.
- Financial Literacy: Education and resources to empower Jennifer in managing her finances and making informed decisions.
Solution: Planning, Advice, Asset Management (PAAM)
- Asset Selection Strategy: Evaluating Jennifer's assets to provide insights into growth potential and risks, aiding in sound investment decisions.
- Emotional Support and Guidance: Offering financial therapy to address both financial and emotional aspects of the divorce.
- Current and Future Planning: Developing a budget and financial plan for the separation phase and forecasting future financial scenarios.
- Account Setup and Asset Movement: Guidance on transitioning into the post-divorce phase with smooth asset management.
- Long-Term Planning: Incorporating budgeting and retirement planning to align her financial strategy with her future goals.
Jennifer's story highlights the importance of comprehensive financial planning during a divorce. By working with a trusted advisor, she can ensure a fair and secure transition, addressing both immediate needs and long-term aspirations.