I have a good understanding of the financial issues that couples need to address, so a financial planner for divorce is not necessary in most cases. But in cases involving large assets or complicated finances, I may work with a financial planner.
Financial planners can help with more complex issues such as investments, post-divorce budgeting, and sticky tax issues that some couples have to address during their proceedings.
What Types of Financial Issues Will I Need to Address During a Divorce?
During a divorce, you must carefully assess, value, and divide all marital assets and debts during the equitable distribution process. Below are just some of the financial issues you might need to handle:
- Appraising properties
- Calculating value of investments
- Completing a financial affidavit
- Determining the worth of retirement plans
- Estimating income
- Figuring out a reasonable post-divorce budget
- Planning how to manage large assets after the divorce
How Might a Financial Planner be Able to Help?
Many couples’ financial portfolios are simple and straightforward, while others contain complex financial issues. The larger the assets, the more complicated matters often get. If you have special financial considerations to address during your divorce, I might recommend enlisting the help of a financial planner.
A financial expert can help you and your attorney work through various scenarios for planning for the future and managing assets during divorce.
Some of the questions financial planners can assist you with include things like:
- How do we handle the business interests we share? Should we sell the business or keep it in operation?
- Should we keep or sell the house?
- When and why should I sell stocks and bonds?
- How do we handle restricted stock from employers?
- Should I withdraw money from my 401(k) or IRA for the divorce settlement?
- When should I draw from my pension?
- Do I have an appropriate mix of investment assets?
- What types of complicated tax issues can I anticipate and how do I best deal with them?
Call Us for Help with Your Divorce
You probably already know if you are going to have to deal with complicated financial issues during your divorce. If you have a large estate or complex issues, call me at the Law Offices of Molly B. Kenny.
I have a diverse background and am well-versed in finances that come up during the divorce process. If you are in need of a divorce attorney in Bellevue with experience handling financial matters, contact me today at 425-460-0550 to schedule a consultation.