Divorce: Why Do I Need a Financial Professional?
Divorce is a financially complex process. With so much at stake, it is important to have a divorce financial professional to ensure that you make informed financial decisions.
Ensuring the Best Financial Interests
Finances are one of the most challenging aspects of any divorce. There is a risk of accepting a settlement that may not be in your best financial interest. The stress experienced during the divorce process can hinder the ability to make informed financial decisions. Having a financial advisor as part of the team provides invaluable guidance to make sound financial decisions.
Differentiating from Role of the Attorneys
Attorneys play an essential role in divorce proceedings; they are however primarily trained in the law and not in financial planning. Attorneys consider the settlement and support amounts; they are not well-equipped to determine if those amounts are enough to create a solid long-term financial plan for both parties. Financial professionals fill this gap by looking ahead and helping both parties plan for their financial future.
Neutral and Collaborative Role
In the Collaborative Divorce process, a financial professional serves as a neutral professional, working with both parties to plan budgets and assess your financial futures. By analyzing various scenarios with projections spanning several years, the financial advisor helps you understand the potential consequences of your financial decisions. This approach ensures a balanced perspective and promotes mutual understanding during a challenging time.
The Importance of Creating Post Divorce Budgeting
Budgeting is a fundamental aspect of financial planning, yet many people neglect it in their daily lives. Divorce is a critical time to create a budget as it forms the foundation of your short-term and long-term financial plan. By developing realistic budgets for both parties, the financial advisor ensures that each person will land on solid financial footing post-divorce.
Empowering Financial Strength
With the support of a divorce financial professional, you can emerge stronger financially than you might have otherwise. By helping you and your spouse understand your financial situations and lifestyle costs, the financial advisor empowers you to make well-informed decisions. Creating a comprehensive financial plan during divorce can lead to a more secure and stable financial future.
The role of a financial professional in divorce proceedings cannot be overstated. Their expertise and guidance are crucial in ensuring that you make informed financial decisions and receive a fair settlement that aligns with your long-term goals. By providing a neutral perspective, assisting with budgeting, and projecting financial scenarios, financial advisors play a vital role in transitioning into the next chapter of your lives with financial strength and confidence.
Contact Financial Harmony
For more information regarding financial planning, contact Kristine Rushing at (833) 340-2305 to schedule a free consultation. Financial Harmony is located at 7700 Irvine Center Drive, Irvine, CA 92618.