Divorce Financial Planning
Divorce is an emotional journey. You will need to make financial decisions that will affect you for the rest of your life. Be sure you have the expertise you need to make the right decision. As a Certified Divorce Financial Advisor(™), we will help you with reviewing your financial situation and giving you the information you need to make the right choices and decisions.
Services Include
Assist in creating budgets including historical analysis and projections of future needs
Identify, collect and organize your financial information
Create asset and debt schedules as well as income and expense worksheets that are required by the California Family Courts
Analyze cash flow and how it might change post-divorce
Review income and expenses and discuss lifestyle adjustments that might be required post-divorce
Evaluate equity compensation including options, RSUs and restricted stock
Discuss various settlement options and the financial repercussions of different ways of splitting the financial assets
Family residence issues, including understanding the consequences of retaining, selling or co-owning the residence
Analyze transactional and tax effects both immediate and in the future of proposed settlement options
Work with your attorney on case specific issues and strategies
Review estate planning, wills, insurance coverage and expected changes
We won’t tell you what to do. Instead, we will help you understand everything you have today, what you spend and review various settlement options. We will discuss how those options will affect your financial future. We want you to fully understand the pros and cons of the various options you are faced with so you can make a fully informed decision that is equitable and fair.
Process
Data Collection and Analysis: It can be overwhelming to gather all the information and put it together in a way that makes sense. We help you identify and collect the financial data that is required. We assess and analyze your assets and debts including savings, retirement, pension, investments and equity compensation.
Budget and Cash Flow: Many people don’t know how much they spend or what they spend it on. We will help you get a handle on this and build a plan for you to fully understand your post-divorce lifestyle.
Settlement Options: To achieve a financial package that meets your goals, it is often the case that you can’t just "split the baby in half". Not all assets are alike and not all debts are the same. Cash flow needs, returns, and time frames all come into play. We help you understand the various ways to come to an equitable settlement with your spouse so you fully understand how to look at the assets and the pros and cons of each.
Equity Compensation: Many people in the Bay Area are earning substantial equity compensation such as stock options, RSUs and restricted stock. These can be complex to understand and value and mistakes are costly. It is important to understand how these assets work and how to properly divide them taking into account timing, taxes and cash flow.
Family Residence Issues: For many couples, the family residence is not only important from an emotional standpoint, but it is also the largest financial asset. We can help you understand the value and cost of this asset, and various possible courses of action that you may wish to take, including purchasing the community’s interest, selling, or co-owning, if that is something you and your spouse both wish to explore.
Special Projects: Our services also include helping our clients analyze and evaluate various special issues. For example, is your spouse offering a lump sum on support? Do you or your spouse stand to inherit substantial sums of money in the future? Are there special business assets to consider? These are some of the issues that we, working as a critical component of your legal team, can assist with as you move through the divorce process and beyond.
Ongoing Financial Planning
When everything has been agreed to and you are ready to move on with your life, we are here to help ensure all terms of the settlement agreement are completed and you obtain all the assets you are entitled to you. Services include helping with opening and closing accounts, moving assets, estate planning, etc. If you already have your own financial advisor, we will ensure they have all the details they will need to keep you on the right path moving forward.
If you are looking for financial advice moving forward, we would welcome the opportunity to work with you via our sister organization Meyer Financial Advisors, Inc. Click here for more information.