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Do You Need a Financial Planner for Your Divorce?

Hiring the right Pasadena divorce attorney gives you a leg up in the courtroom, but you also want to consider consulting a financial planner to help you better prepare for your post-divorce life. Financial planners can help alleviate some of the fear and uncertainty that comes with getting a divorce, especially if you let your spouse handle most of the bill paying and financial decisions while you were married. Knowing that you have the ability to handle your finances as a single person will give you the confidence you need to better manage any disagreements between you and your ex as you are negotiating the terms of your settlement.

If you start working with a financial planner before your divorce, he or she can provide advice to make sure you're getting a fair share of assets and that the assets you receive will be set up in a way that adequately meets your future needs. For example, a financial planner can work with you to make sure you have the proper balance of liquid and illiquid assets. Many people going through a divorce overlook the fact that equity in your home is different from stock in a business or cash in the bank, even if the dollar amounts of each asset are the same.

A financial planner can work with you to develop a new budget that accurately reflects your expenses and cash flow. Your post-divorce budget may need to reflect child support and/or spousal support payments, the cost of buying your own health insurance, or higher daycare costs because you no longer have a spouse at home to watch the kids when you're working. These types of expenses are easy to overlook when you're on your own, but a good financial planner can make sure you have all your bases covered.

How Can We Help?

Please call our office at (626) 683-8113 or email us at info@PasadenaLawOffice.com if you are in need of legal representation during your divorce. Our skilled Pasadena divorce lawyers are eager to help you obtain a fair settlement so you can move on to the next phase of your life.

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