Complex Asset Divorce Couples Turning to Divorce Financial Planners

 Posted on June 21, 2014 in Complex Divorce

An increasing number of couples are trying to negotiate complex divorce settlements and are turning to divorce financial planners. Many attorneys representing wealthy clients in these high asset divorce negotiations are recommending the clients consult with financial planners before finalizing their divorce settlements.

Quite a few financial planners are adding divorce planning to their list of specialties. According to a survey conducted by the Financial Planning Association, 25 percent of planners have already done so and another 20 percent said they plan on offering the service to clients.

Currently, there are approximately 1,700 certified divorce planners. This represents a 40 percent increase since 2011.

High asset divorces can be complex because of the financial issues that need to be decided. Assets such as property and other real estate, bank and other financial institution accounts, retirement accounts, stocks and bonds all need to be divided up.

A divorce financial planner can determine if a settlement will work for a client by evaluating what their financial needs currently are and what they will be once the marriage is over. The planner will look at all current assets, as well as liabilities. The planner will also help prepare a future budget.

In determining a fair settlement, the planner also determines the client's financial goals, assesses what their earning potential is, and analyzes education or training costs, retirement planning, insurance needs, and tax situation after the settlement.

Once there has been a settlement in the complex divorce, the planner will also help oversee any asset transfers, investment management, budgeting that may be needed, or other financial services the client may request.

If you are involved in a high asset divorce, you need an aggressive Georgetown family law attorney representing you to ensure you receive all that you are entitled to in your complex divorce. Contact the Powers and Kerr, PLLC today. Call 512-610-6199.