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Divorce financial specialists educate and empower clients on
the financial aspects of their divorce settlement as well as
helping them to plan financially for the future.
Having a neutral specialist who understands the emotional
issues of divorce can be very helpful to both parties in
coming to an equitable agreement in a civilized manner.
Financial Specialists
use sophisticated software to help the parties evaluate
their current and future financial situations, and to
evaluate settlement options in order to help the parties
arrive at a financial settlement which is equitable and tax
efficient.
In collaborative
divorce, the financial specialist is a neutral person on the
team who is responsible for gathering and organizing
financial data, assessing the levels of financial
understanding of each spouse and
 providing
them with the help they each need, identifying financial
issues specific to the case, identifying financial
objectives of each of the parties relative to the divorce,
managing their financial expectations, and assisting the
team with its evaluation of the various settlement options.
There can be a
considerable amount of data to collect and analyze,
including financial affidavits, tax returns, budgets, debts,
spending patterns, and assets, including real estate,
retirement accounts, and stock options. Financial
specialists also assist in valuing businesses holdings.
Based on the financial
data, the financial analyst can produce forecasts, based on
various assumptions, of cash flow and net worth for
assisting
the parties with arriving at an equitable settlement that
makes sense over time.
Financial specialists
facilitate the communication between the parties on the
financial issues. They can meet alone with the two parties,
and can also be involved in 5-way meetings with attorneys or
coaches.
The result of the work of the financial
specialist should be an equitable financial settlement that
both parties understand and confidence in a financial plan
for the future. |
