When you start thinking about divorce, you might feel overwhelmed by the scary thought of losing half of what you own. It can feel like a panic attack, making you wonder if leaving is worth it if you'll end up with little money and struggling to get by.

If you're considering divorce, there are steps you can take to protect your financial future. One crucial step is to work with a financial advisor who specializes in divorce. They can help you understand all the options available for reaching a fair settlement and ensure you're fully informed about your financial choices.

A couple who had been married for 24 years sought assistance from a colleague to navigate their divorce process together. Despite their amicable relationship, they learned from an attorney that he could only assist with document preparation as he was ethically obliged to represent only one party. However, they were unsure about how to fairly divide their property. The attorney suggested a 50/50 split of assets and debts as per the state's community property laws, but the couple felt uncertain about this approach. Consequently, they were referred to a Certified Divorce Financial Analyst® (CDFA®) to explore alternative options and ensure a more informed decision-making process.

Upon compiling all relevant financial documents and conducting a thorough analysis, the CDFA® generated two reports for the clients. The initial report adhered to the attorney's recommendation of a precise 50/50 division. However, the second report proposed a more innovative settlement approach. This alternative solution maintained an equitable net 50/50 split while accounting for factors such as tax implications, future financial planning, and the individual needs of each party as they prepared for the next chapter of their lives.

With a combined net worth of under $800,000, the couple saw a significant boost in their finances through the implementation of the creative settlement approach. Each partner gained an extra $20,000 in their assets, solely due to the application of financial expertise in crafting their settlement. This tangible increase in wealth amounted to substantial savings of $40,000 for the couple, leaving them understandably happy with the outcome.

Approach this situation with clarity and confidence. With the guidance of experienced professionals, you can secure a brighter financial future for both of you. We're here to offer our expertise and support every step of the way. Don't hesitate to reach out and schedule an appointment with us today. Your financial well-being is worth it!