Role of financial advisors in high-asset divorce

On Behalf of | Jun 10, 2024 | Divorce

Divorce can be a complex and emotional process, especially when it involves significant assets. Financial advisors help individuals navigate the financial aspects of a high-asset divorce.

Couples should understand how financial advisors can help them through the process.

Organize and evaluate financials

This type of family law case is complicated and requires gathering details about bank accounts, investments, properties and other valuable assets. A clear picture of the couple’s financial situation is important for making informed decisions.

Value assets

In 2022, 989,518 couples pursued divorces, and advisors may have helped them determine the value of the couple’s assets, including real estate, businesses, retirement accounts and valuable personal property. They ensure that both parties understand the true worth of their assets.

Resolve complicated financial issues

Financial advisors help identify and address financial issues. For example, they can assist in understanding the tax implications of dividing certain assets.

Develop asset division strategy

They work to ensure that the couple’s asset division is fair and meets the needs of both parties. This might involve creating a detailed plan for how to split investments, real estate and other valuable assets. Financial advisors aim to create a balanced approach that considers the future financial well-being of both individuals.

Manage assets after the divorce process

They provide guidance on budgeting, investing and planning for the future. This support is important for individuals who may not have previously managed their finances independently.

Assist with negotiations

These professionals provide clear and objective financial information. This can help reduce conflicts and facilitate a smoother negotiation process. Their negotiations help the courts and couples base their financial decisions on accurate data and realistic expectations.

A financial advisor’s expertise helps individuals achieve a fair and equitable resolution, allowing them to move forward with confidence in their financial future.

FindLaw Network