Will this affect the lifestyle I’m accustomed to?
There are a lot of factors that can have a tremendous impact on your lifestyle. Becoming responsible for spousal and/or child support may seriously affect your budget. You may have left your career to raise the children, and even with spousal and child support, find yourself needing to re-start or change careers.
The analysis and financial expertise applied to your divorce settlement is critical. Yes, an attorney or paralegal can come up with a number that looks fair. But is it? Some settlements may set in motion a long, slow-motion decline of net worth year after year after year, as is the case for Alexandria in the analysis below.
Having a Certified Divorce Financial Analyst®, with a financial professional background and experience, might be the most important factor in maintaining your lifestyle or planning for the changes necessary. It all starts with the analysis of your income, expenses, assets and liabilities. Then I apply the additional analysis of after-tax projections to ensure the incomes and expense liabilities of both parties do not disadvantage one or the other spouse. I am able to run multiple asset division scenarios until we find the optimal combination to, as best as possible, preserve the lifestyle of both parties.
Creating a mutually agreeable (or, if I am retained by only one party, creating a favorable) financial settlement for my client(s) is one part of the equation. Now there is a new financial reality for each party, and it is critical that we quantify how that affects current and future plans, and plan for any changes that might be necessary to secure their financial future. Please click the logo below to be taken to my Zen Wealth Consultant Services website to learn more about the benefits and features of creating your bespoke Financial Plan.