Do you need a financial advisor on your divorce team?

Do you need a financial advisor on your divorce team?

On Behalf of | Aug 2, 2022 | Property Division |

After a Texas divorce, your financial situation may look decidedly different than it did during your marriage. Adjusting to life on one or no income after getting by with two people providing for your household may take some time. Yet, you may find it easier to adjust to your new lifestyle and situation if you hire a divorce financial advisor to help you navigate your split.

According to U.S. News and World Report, a divorce financial advisor may be able to help you handle the financial side of your marriage ending while you work through your emotions and other aspects of your divorce. To be more specific, a divorce financial advisor may be able to help you do the following.

Place a value on assets

In order to divide assets fairly during your split, you need to know their value. Many divorce financial advisors have training in evaluating assets, so they should be able to help ensure you get your fair share of everything during your divorce.

Uncover hidden assets or revenue streams

If your spouse wants to hide assets from you, he or she may have many different ways to do so. Yet, a financial advisor may have training that helps him or her uncover hidden revenue streams or assets.

Plan for retirement

A divorce financial advisor may also be able to help you put age-related plans in place for retirement. If you are nearing retirement age, this may be more of a priority than it might be if you are, say, in your 20s when you split from your husband or wife.

Ultimately, the point of making a financial advisor part of your divorce team is to have someone who does not have an emotional stake in the matter advocate for your interests and make sure your settlement is fair.