Why Do I Need a Financial Planner While Going Through Divorce?

divorceMany of my friends are curious as to why I would choose to specialize in the divorce field as a financial advisor?  Divorce is such an emotional life event where people are often not on their best behavior.  Who would want to get involved with this?  Why not wait until after the divorce is finalized?  All great questions.

I certainly did not intend to focus on helping people through divorce when I started the firm about three years ago.  Then one month, I had three seperate consultations with two themes in common:  1)  The client was divorced within the last five years and 2)  They were in debt up to their eyeballs and facing bankrupcy. It became apparent that couples going through a divorce needed a guidance and often it was too late after the settlement is agreed to and finalized.  All three situations could have been avoided if the right decisions being made throughout the settlement negotiation process.  Unfortunaly, there was a void in the community of financial professionals who were experts in this area.

This is when I decided to pursue my Certified Divorce Financial Analyst certification and get involved with the professionals in the community to learn more about their specific needs and challenges.  By working with a financial professional, my clients are better equiped to decide whether they can afford to stay in the marital home or sell it.  We sit down and work on a new household budget and can discuss their challenges.  Many are working mothers who are raising children and now are facing life on one income instead of two.  This is a difficult transition and working with a third party professional can help bring clarity to their specific situation.

Check back next week when I continue to write about my journey into this field and collaborative divorce.  Believe it or not, there is a new approach for a more peaceful and courtless divorce option now available in the Bradenton and Sarasota communities.

 

 

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