Helping divorcees adapt to a major transition in life
We all know the devastating effects divorce can have on the finances of women. It’s why we are proponents of cooperative and collaborative divorce, where couples seek to arrive at a mutually agreed-upon settlement through negotiation. An alternative to the traditional court-based divorce, it can save time, money and the destruction of litigation.
Kennie Taylor watched his younger sister go through a difficult, traditionally litigated divorce and felt the emotional toll it took on her – and all of his family. He vowed, after watching his sister’s experience, to apply his expertise as a financial advisor to help women facing divorce find their way to a better outcome.
The highly emotional courtroom environment is not the place to determine how marriages should be dissolved, and that’s especially true when children are involved. A cooperative and collaborative process can remove the courtroom entirely, while maintaining maximum privacy for you and your family. Together with you, we work with your legal and accounting professionals to help you manage the many details of divorce and your future financial picture.
Whether you are presently going through a divorce or newly divorced, we can guide you through the many financial details, from dividing assets to mitigating taxes – giving you an opportunity to move forward with your life.
A woman encountering the prospect of divorce
Janet has been married for nearly 20 years and has two children, but the rocky relationship has reached a point where divorce is looming. Due to the many financial and emotional factors at hand, she is understandably under a lot of stress. She seeks the help of caring and experienced divorce planners to help her through this complex and challenging time.
What we would do
The first step would be to convey to Janet the benefits of a cooperative and collaborative divorce, where the wife and husband seek to arrive at a mutually agreed-upon settlement through negotiation. We would explain to her that it is an alternative to the traditional court-based divorce that can save time, money and the destruction of litigation. Our next step would be to help compile and analyze her financial information to get a clear picture of her current financial situation and future needs, then work with her other professionals to arrive at a fair and reasonable settlement. We would also keep in contact with her accountant and attorney to help ensure that all the beneficiaries listed on her documents were up to date and in accordance with her wishes. In addition, we would address cash flow and credit concerns to help her have the money she needs to maintain her lifestyle.
This case study is for illustrative purposes only. Individual cases will vary. Any information is not a complete summary or statement of all available data necessary for making an investment decision and does not constitute a recommendation. Prior to making any investment decision, you should consult with your financial advisor about your individual situation.