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Divorce

Financial planning after divorce can be particularly complex. We recognize and understand how the dissolution of a marriage or life-partnership can very 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 are the myriad financial realities that invariably need to be dealt with.

Making clear-headed financial decisions during such a difficult time can be daunting. And while there is no simple solution to reconfiguring a person’s post-divorce financial plan, we tailor our approach to every client’s unique needs and circumstances. They can count on us to remain focused on creating resilient financial solutions that best fit their new reality.

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?
man in bathrobe seeking financial planning after divorce

Here's how we helped

After an initial review of the potential settlement, we began working directly with Matthew.

  • We took Matthew through our 10 Step Process for Divorcees. 
  • Once the final settlement was agreed upon, we advised him on everything that he would need at every step.
  • Ensured that nothing was overlooked so that Matthew would be able to securely maintain the lifestyle he and his daughter had come to enjoy.
couple signing paperwork for financial planning after divorce

Moving Matthew forward

  • We developed a game plan so he could stay in the home until Tessa graduated college
  • Explored solutions for once the child support and spousal maintenance ends
  • Created an investment portfolio that should serve him well now and long into retirement
  • Implemented tax minimization strategies for his income and the home
  • Recommended and coordinated with a new Estate Tax Attorney and Certified Public Accountant
  • Provide ongoing objective counsel and reassurance that this plan is sustainable, resilient and right for addressing both his current needs and long-term security
man in sweater signing paperwork for financial planning after divorce

Comfort, control and a clear path forward.

As difficult and painful as divorce can be, following a clear, step-by-step process to restore financial order and stability can help make new divorcees feel more in control of their future. In Matthew’s case, we clarified how he could keep the family home, not have to go back to work, and remain financially sound between his retirement accounts and invested assets. We continue to work with Matthew, ensuring his financial plan after divorce remains resilient and on the right track.

"Thanks for your help recently and over the years. The whole divorce ordeal had a heavy toll on me, but I'm glad you were in my corner."*

- David M. Mahalick, HWM Client

*All testimonials are provided by clients of Heller Wealth Management and have been provided voluntary. No financial compensation has been given in exchange for this testimonial.