Divorce
We recognize and understand how the dissolution of a marriage or life-partnership can significantly impact the lives and futures of everyone involved. Aside from the stress and challenges of dealing with the personal toll of a marital split, there are the myriad of financial realities that invariably need to be dealt with as well. Like any major life event, divorce requires complex and careful financial planning to ensure that you establish and maintain a level of financial stability once the process is completed.
Making clear-headed financial decisions during such a difficult time can be daunting. Whether you are contemplating divorce, in the middle of the process or nearing the completion of your divorce, our team of Certified Financial Planner professionals at Heller Wealth Management are experienced at helping to guide clients through the financial planning process of divorce at all stages.
We utilize a five-step process to help you achieve financial freedom after divorce:
Step One
Discovery
Regardless of where the discovery process starts during a divorce, it is a critical part of this process for our clients. Key things we emphasize to our clients during the phase include:
- Listening to your needs and concerns.
- Gaining awareness of all assets available as part of the marriage.
- Looking at your needs and how these assets and various sources of income will play into your post-divorce life.
Financial Planning During and After a Divorce
Your Personal Financial Plan Covers:
Cash Flow
Cash Flow
- Income and Expenses
- Spousal Maintenance & Child Support
- Social Security
- Pension
Financial Plan
Retirement Plan
- Retirement plan analysis
- Income Tax Minimization Strategies
- Estate Plan Review/Update
- Asset Protection Planning
Investments
Investments
- Asset Allocation
- Long | Intermediate | Short Term
- Tax Optimization
- HWM Reservoir Strategy
Settlement Proposal
Settlement Proposal
- Asset Split Optimization
- Tax Planning
- Qualified Domestic Relation Order
- Hidden Assets
CASE STUDY
Say hello to Matthew.
A stay-at-home dad and father of a teenage daughter, Matthew’s pending divorce had put his financial future in question. He was seeking clarity on what would happen to the family’s assets – including the home they owned and lived in – after the divorce.
Matt’s own experience with investing was limited as his spouse had managed that aspect of their finances.
Matthew wanted to know…
- Would he have to go back to work?
- Could he and daughter, Tessa, afford to stay in the family home?
- What might the taxes look like on an eventual sale?
- What should he do when the spousal support stops?
- How should he invest his share of the money?
