When you split from your spouse, your financial big picture may look quite a bit different than it did during your marriage. Your retirement outlook and earning potential are a few of the things that may have changed, and you may have specific financial goals you wish to work toward as you move forward with life on your own.
Making a financial advisor part of your divorce team is one way to help yourself walk away with what you deserve and otherwise position yourself for financial success. According to Forbes, 95% of modern women navigating divorces neglect to hire financial advisors. However, 61% of them later wish they had. How might adding a financial advisor to your divorce team benefit you in the long run?
By making sure you factor in all assets
Major shared assets, such as vehicles or second homes, are easy to remember during a divorce. With everything you have going on, though, you may not consider some of the smaller or more obscure, but still valuable, assets. A financial advisor may be able to help you cover all bases and get your share of what is yours.
By helping you work toward specific goals
A financial advisor may also play a substantial role during asset division, which may help you make plans in specific areas. If you are particularly concerned about retirement, for example, your advisor may be able to help you figure out how to maximize your retirement takeaway. If you have concerns about creating new income streams or purchasing a new home, he or she may also be able to help you set the wheels in motion to do so.