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Divorce Financial Planning

Antoine Williams & Associates Wealth Management, LLC

We help individuals during and after the divorce process make smart planning decisions. As a Certified Divorce Financial Analyst, I am trained to assist people like you navigate the uncertainties of divorce. Don’t try to tackle your financial planning alone. We are here to help guide you on your financial journey. Here at Antoine Williams & Associates Wealth Management, LLC, we are passionate about people and building relationships. It is important to us to help you make informed decisions when it comes to your finances. We specialize in helping divorcees create a financial plan that works for them and their evolving lifestyle. Meet with us to discuss how we can help you take control of your finances and become financially independent.

What is Divorce Financial Planning?

Divorce Financial Planning focuses specifically on developing personal and business financial strategies that can help an individual achieve the best possible divorce settlement for their individual situation. Just as a family law attorney would focus on legal issues as they relate to family law, in order to make informed decisions regarding your finances during and after the divorce, you need to tap into the knowledge of a trained professional who is ready to deal with critical financial choices as they relate to divorce. Divorce can be an emotional experience, and without guidance you may make mistakes in the process that will hinder you for life.

What is the role of a Certified Divorce Financial Analyst?

The Certified Divorce Financial Analyst (CDFA) certification emphasizes an individual’s ability to aid you in financial decisions and work directly with you and your attorney toward a settlement that takes care of both short-term and long-term needs. By utilizing proprietary software and specialized knowledge, CDFA professionals can determine the long-term and short-term financial impact of a settlement. They can create, analyze, and forecast different scenarios to outline a fair settlement that helps to protect your best interests and keep costs low. Working with a CDFA means working with working with an advisor who understands the financial complexities people experience during divorce. Your CDFA will educate and empower you to make informed financial decisions.

What is the role of a Certified Divorce How do I protect myself financially in a divorce?

Protecting yourself financially during a divorce comes with many factors and steps to take to accomplish this. Everyone’s situation is unique to them and their marriage. For example, what assets are shared, are there children, do you have joint accounts, etc. These are just some of the questions that are considered when looking at what steps to take. The basic necessities include hire an experienced divorce attorney, open sole accounts, sort out mortgage or rent payments, take inventory of assets and debts, change your will, and be prepared to discuss sharing retirement accounts. Just because you own something solely does not mean that it is totally protected. It is imperative to work with your attorney as well as a CDFA, like Antoine Williams, to find out what steps need to be taken in order to ensure you are protecting yourself.

What to consider before, during, and after the divorce:

It is important to consider the following: gather a team, gather personal information, identify your personal property, organize your legal documents, get your finances in order, find a place to live, and take care of yourself. Divorce is heartbreaking. In fact, divorce can be devastating. Divorce is kind of like a death. One must mourn the loss of the marriage. This comes with time, but one of the most important things to consider is the fact that emotions tend to run high and hot. This is the reason why it is imperative to get a team together of professionals who are not emotionally involved in your marriage who will help you make logical and informed decisions before, during, and after the divorce.

Divorce Financial Planning FAQs:

Q: Am I going to receive spousal support?
A: Information such as need, ability to pay, length of marriage, and health of both parties will determine whether or not you receive spousal support.

Q: Will I lose some or all of my pension as a result of divorce?
A: Pensions and retirement plans are considered marital assets, so generally, the portions earned during the marriage would be subject to division.

Q: I am the custodial parent, should I keep the house?
A: In short, sometimes yes and sometimes no. It is important to consider whether or not you can keep up with the payments and cost of maintenance for the home.

Q: How is child support payment calculated?
A: In the United States, every state has different Child Support Guidelines that are mandated.

Q: Do we have to go to court to get divorced?
A: No. Only if you cannot reach what would be called an out-of-court agreement.

Key Takeaways:

The most important and first steps are to get an attorney and get a Certified Divorce Financial Analyst on your team. This is the best way to protect yourself and your assets when facing divorce. Remember that when you have a team of professionals on your side, the best outcome will be reached. At Antoine Williams & Associates, we take pride in helping divorcees like yourself start their next chapter in life. We see divorce as a new beginning and the start of an unfolding of the next phase of your life. Let’s get busy planning your next chapter.

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