Sometimes spouses see that they are headed for divorce long before either one talks to a lawyer. Spouses know that their marriages are ending, and they begin to look forward. They wonder what their lives will look like after the resources that used to support one household are divided to support two.
Divorce financial planning can help you understand what to expect. And it can help you make smart decisions about your finances before, during and after a divorce. In fact, at Stange Law Firm, PC, we often see it as an integral part of the divorce process.
At our Missouri and Illinois law firm, we often refer our clients to knowledgeable and trustworthy financial planning resources to clients facing divorce. No matter where you are in the process, getting financial counsel from an experienced professional can help you make the right choices.
There are many ways that financial planning can help you understand your options, set your priorities and make often difficult decisions:
- Take control of your divorce
- Understand your current finances
- Anticipate your future finances after a divorce
- Minimize legal fees
- Minimize the taxes you may have to pay
- Effectively and quickly negotiate fair settlements
Reaching Settlement After Divorce Financial Planning
Financial data can be unreliable, which leads to problems with property division in a divorce. Accurate financial information developed during financial planning can also help spouses correctly account for their property and arrive at settlements more quickly.
Divorce financial planners can help you identify what assets you might seek through settlement or trial. This is especially true when you own retirement accounts such as 401(k)s, Roth IRAs and Traditional IRAs. Divorce Financial Planners can also help you trace your contribution to joint bank accounts and real estate, finding your separate interest.
You can also read more on this topic in articles titled: Missouri Tax Issues in Divorce and Family Law Matters and Divorce financial planning can help reduce financial worries.
Contact Our Attorneys in Missouri, Illinois & Kansas
To learn more about our approach to property division, contact us online or by phone to schedule a confidential half-hour consultation at any of our convenient locations.