Best Financial Planner Divorce Tampa Florida
Best Financial Planner Divorce Tampa Florida
Preparing for a divorce is hard enough as it is, but whilst also attempting to untangle your finances, it can become incredibly complicated.
Decisions are often made at an emotionally charged time, and the realities of these decisions don’t become apparent until much later.
Carefully considering the financial decisions you make in divorce is incredibly important for ensuring that you can maintain the lifestyle you want after you have separated.
Some ways financial advice helps navigate your post-settlement life include:
Address the change in household income and review your cash flow structure to help you enjoy financial security, free from stress and worry.
Refinancing your home, finding a new home to buy, or managing life in the rental market?
Adjusting your investment portfolio and super to your individual risk profile.
Review your insurance coverage so you feel protected, should something happen.
Making plans for a fresh future! Now is the time to create goals – big and small, short, and long-term! What does your version of My Good Life look like? Travel, study, entertain…
Adapting the plan as your landscape changes.
Can I spend my money during a divorce? Best Financial Planner Divorce Tampa Florida
Many people might not know about this, but ex-spouses who have not yet finalized their property settlement can still spend funds from their joint accounts after separation.
However, this does not mean that estranged spouses can spend without repercussion.
To have better knowledge about how you can spend your money during a divorce, it would be best to consult with your lawyer.
That way, you can mitigate financial risks that can occur once you or your ex-spouse engage in excessive discretionary spending before legally finalizing the property settlement.
Why is Financial Planning in Divorce Important?
Divorce can be a confusing time, so it’s important to feel protected.
Financial planning in divorce allows you to build a picture of your existing income and assets as well as your future capital and income needs.
This can be used to establish a financial claim on your behalf.
During what will be an emotionally charged time, it is important not to be rushed during the process and to ensure that all details that impact your financial life are not overlooked.
One of our financial advisors will be able to work with you to help you understand what is happening and what you can do with your money for years to come.
Though getting a divorce is never easy, that doesn’t mean it is not possible to establish (or maintain) your sense of financial security.
With the right wealth management team on your side, you can still achieve your long-term financial goals and do so independently.
Why a Financial Planner should be part of your Team during Divorce
There may be cases where some assets are difficult to value.
A financial planner will support you in putting together a list of assets that require disclosure during financial negotiations.
At Mintco Financial, we will work with you to provide a clear explanation of your more complex assets.
Then, having gained a fuller understanding of your financial situation, we can provide guidance on retirement accounts, mortgages, and investments, considering their tax position.
After your divorce has been settled, you may want to consider new investments and other financial issues.
We understand that this can be a difficult time, which is why Mintco Financial offers a personalized service to help support your future.
Going through the divorce process is a long journey and paying attention to each step will help you reach your destination in the best possible financial shape.
Divorce is a time when emotions run high, and people don’t always think of things like financial planning until later on down the road.
If you’re already in the middle of the divorce process, it’s never too late to contact a financial planner.
We’ll work with everyone involved to help reach an agreement that is satisfactory to both parties.
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