woman reviewing financial statement with older man

Should I See a Financial Advisor Before Filing for Divorce?

By Michael DiFalco

Regardless of the circumstances, divorce proceedings can take a financial and emotional toll on couples, especially when the process becomes tied up in lengthy legal disputes. While emotional support from friends and family is important, consulting with a financial advisor can be a game-changer in navigating the complexities of divorce. 

In this article, we will discuss the reasons why you should consult with a financial advisor before filing for divorce and how our team of skilled divorce attorneys at Aiello & DiFalco can collaborate with financial advisors to help you.

A Financial Advisor Can Help You Prepare

A financial advisor can provide valuable insights into your financial situation and help you better understand the implications of divorce on your assets, liabilities, and future financial goals. They will assist you in creating a comprehensive inventory of your financial holdings, including properties, investments, and retirement accounts. This will allow you to make informed decisions during the divorce process and ensure that your financial future remains secure.

There are specialized financial planners who address divorce scenarios and who may be able to help create a budget or other financial analyses specific to a divorce. Yet even a regular financial planner, particularly one who knows your investments and retirement assets, may be able to help provide relevant information and peace of mind regarding your financial situation as you prepare for a divorce.

You Will Be Educated on Your Family’s Finances

One of the primary benefits of consulting with a financial advisor is the knowledge they can impart about your family’s finances. Many couples may have a vague understanding of their financial situation, but an advisor can provide a detailed and accurate assessment. This information will empower you to make better decisions during negotiations and help you avoid common financial pitfalls associated with divorce.

It Will Help You Explore All Your Options

Every divorce is unique, and a financial advisor can help you explore the various options available to you based on your specific circumstances. They can guide you on matters such as property division, alimony, child support, and tax implications. By understanding the financial repercussions of each option, you can make choices that will protect your interests and maximize your financial stability post-divorce.

It Will Help You Be Objective in an Emotional Process

Divorce can be an emotionally charged experience, and it’s easy to let emotions cloud your judgment when it comes to making important financial decisions. A financial advisor can act as an unbiased third party, helping you stay focused on the long-term impact of your choices rather than getting caught up in the immediate emotional turmoil. By providing objective advice, a financial advisor can ensure that you make sound decisions that will serve you well in the years to come.

How Aiello & DiFalco Can Help You

At Aiello & DiFalco, we understand the emotional and financial challenges that come with divorce. Our team of experienced divorce attorneys works closely with trusted financial advisors to provide you with personalized guidance and support throughout the divorce process. By collaborating with financial professionals, we can ensure that you receive a comprehensive assessment of your financial situation, education on your options, and the necessary resources to make informed decisions that will safeguard your financial future.

Consulting with a financial advisor before filing for divorce can be an invaluable step in ensuring a fair and favorable outcome. By helping you prepare, a financial advisor can greatly impact the success of your divorce. If you are considering a divorce and want to understand all of your options before filing, contact our Aiello & DiFalco today to schedule an initial consultation.

About the Author
I am a partner at Aiello & DiFalco LLP, and my priority for my clients is to guide them through an arduous court case to provide them with the opportunity to write the next chapter in their life. I tailor my approach to each client’s priorities and positions, and to the extent that matters can be predicted, I will always provide a realistic perspective of how the law could be applied to the particular facts and circumstances of a case. Since I thrive on helping people and solving problems, I bring an optimistic and positive approach to practicing in a very difficult area of law. With more than a decade of experience handling hundreds of cases, I have the ability to get results on the issues my clients view as priorities. When cases or certain issues cannot be settled, I have a solid record of success at trials, hearings, and on appeals. Feel free to contact me for a free initial consultation, I am always available to help.