When you’re going through a divorce, you wouldn’t share a family law attorney with your estranged spouse. You shouldn’t share a financial advisor either. Regardless of how amicable your divorce may be, you have to start looking out for yourself and your own financial well-being.
If you and your spouse already have a financial advisor, you need to get your own. If the two of you don’t have one, it may still be worth your while to hire one. This is particularly true for people with a large amount of assets, those who have been in a long-term marriage and/or those who aren’t used to managing household finances themselves.
Learning what your expenses are, how to make a budget and how to live within that budget is crucial to those living on their own for the first time or after many years of marriage. Budgeting for one is also very different than for two.
Don’t wait until after the divorce as you try to navigate your new financial status as a single person to get financial advice. Seek it out during the divorce. A financial advisor can help you and your attorney as you work towards the best settlement for you. A financial planner, like your family law attorney, can help you make wise decisions at a time when your emotions are likely taking over.
Your Florida family law attorney can probably recommend a financial advisor in your area who can provide you with the help you need. Having sound financial advice coupled with experienced legal guidance can be crucial to entering this new phase of your life on sound financial ground.
Source: Daily Finance, “Divorcing? Why You Should Hire a New Financial Adviser,” Krystal Steinmetz, Nov. 16, 2015