Couples who want to preserve assets
Making good financial decisions during divorce is critical to your future after divorce. These decisions can be particularly overwhelming to a spouse who has not handled the finances during the marriage.
With the guidance of a Financial Neutral, you can have peace of mind as you navigate through the potential minefield of financial issues in your divorce.
The Financial Neutral can help you and your spouse or partner make the important financial decisions that will have a short and long-term impact on your future financial security.
Overview of financial implications in divorce
The role of a Financial Neutral is essential to assist in determining:
- Income/cash flow available for spousal support and child support
- Business Valuation
- Income tax issues including residence sales, capital gains and tax consequences
- Budgets, financial planning and adequacy of resources
- Retirement savings and projections
- Present value for buyout and other purposes
- Marital and nonmarital property components of assets
- Complex financial documents and products
- Equitable Distribution Schedules & Financial Affidavits
Dividing the marital assets, including the marital home:
Deciding whether to sell the home now or at some future time can be very emotional for the couple, as this decision will deeply impact the financial stability of the family. The Financial Neutral and Allied Professional such as Realtors ®, Mortgage Brokers and Appraisers, can provide you and your spouse with options regarding the affordability of keeping the house and the tax implications of transferring assets.
Dividing the debt in your marriage:
The accumulation of debt in the marriage can be challenging for clients. The Financial Neutral can provide you and your spouse with unbiased information so that you are knowledgeable of your debt and can determine how best to handle marital debt.
Planning for the children’s financial needs:
Consideration should be given to ensuring that your children’s financial needs are met and addressed in a plan to minimize the potential for future conflict.
Retirement/investment funds are often among the largest assets aside from the primary residence. The Financial Neutral and Allied Professional, such as Financial Advisors, Financial Planners, etc., can help you and your spouse determine and project future retirement needs.
It is important to plan for the insurance needs of the family. In addition, it is important to ensure that adequate life and health insurance are available to meet the needs of the family. Additional insurance may be needed if there are child support, spousal support and special needs requirements.