Dealing With The Financial Challenges Of Divorce

DEALING WITH THE FINANCIAL CHALLENGES OF DIVORCE

After just going through a difficult divorce, a woman came to us on the recommendation of her father. she had limited knowledge of her finances and was concerned about the well-being of both herself and her children.

THE SITUATION

• 50 year old divorcee with 4 children
• Wanted to understand the financial ramifications of her divorce
• Unsure of how to handle the large amount of alimony and child support
• With no earned income, concerned about outliving her assets

OUR APPROACH

• Educated her on financial, estate and cash flow planning
• Drafted a net worth statement and comprehensive financial plan
• Recognized the need for advanced planning given the size of her estate and implemented more impactful charitable giving strategies
• Introduced her to an accountant for assistance with income tax planning and confirmed that her investments were aligned with her tax plan

SIGNIFICANT RESULTS

• Increased knowledge and confidence about finances and investments through ongoing review meetings
• Assets are now properly titled and invested according to her goals and aspirations
• Lowered anxiety about her financial well-being in the future
• Established team of trusted advisors working in her best interest