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A divorce financial advisor can be a smart addition

A divorce for a Houston resident is a major life event. No one ever expects their marriage will end in divorce but a large percentage of marriages will end in divorce. Although a divorce is an extremely emotional time it is very important for people going through a divorce to keep the financial implications of a divorce in mind.

Financial implications of a divorce are huge. Property and debt division is one of the biggest parts of a divorce and the most contested. A divorce financial advisor can be a good addition to a divorce team. There are many ways a divorce financial planner can be helpful. First they can conduct a comprehensive assessment of a couple's finances. They can review all assets and debts, property and pension and retirement accounts.

With all of this information they can determine what should be done with the house, how much alimony a spouse should receive, minimize taxes, develop spending plans and cash management and determine life insurance needs. It can be so hard for someone going through a divorce to have the mental wherewithal to be able to see past the emotional trauma and focus on financial implications. A divorce financial planner is able to create peace of mind for the individual by working out scenarios to make sure their client will be ok after the divorce. They also can create a budget for their client so that they can have a smooth transition to being single.

A legal professional skilled in divorce is a key member of a divorce team. A divorce financial planner can also be a good addition to make sure all important financial matters are covered both during the divorce and after the divorce is finalized.

A divorce is an emotional time for couples. It is a major life event that requires smart planning to make sure a person's life is not ruined by the divorce.

Source: onefpa.org, "What does a divorce financial planner bring to the table?," Stacy Francis, accessed on May 23, 2016

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Attorney Christine K. Lincoln

Christine K. Lincoln offers sound counsel and legal services to protect clients and their families facing divorce and other family disputes.

She will take the time to understand your individual needs and develop a comprehensive solution to protect your rights and interests.

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