Financial Planning During a Divorce or Separation

Evaluate the long-term effects of a proposed settlement.

Financial Divorce Specialty is a separate but distinct division of our business. While no one wins financially in a divorce, we believe that you can do better than just survive it. Working in coordination with mediators and/or lawyers, we assist couples moving through the stages of separation and divorce to secure a satisfied financial agreement.

A Financial Divorce Specialist (FDS) is an accredited financial professional with specialized training in matters related to separation and divorce. A FDS provides an objective assessment of potential financial settlement options.

A Financial Divorce Specialist does NOT provide legal opinion or advice.

The Role of the Financial Divorce Specialist

A FDS assists lawyers &/or mediators in designing a settlement option that will maximize clients’ satisfaction considering the available resources.

A FDS can be recruited directly by one or both parties &/or one or both mediators or lawyers.

A FDS can be engaged at any time during the process of separation &/or divorce:

At the beginning to help collect financial data and report it correctly
During deliberations to help analyze financial proposals
Towards the end to evaluate scenarios and prepare future-based projections to aid in the decision making process

Issues addressed by a Financial Divorce Specialist

a correct calculation of income earned
tax and estate implications of the division of assets – are the right assets being transferred?
Ensuring child &/or spousal support is maintained in the event of death or disability of the paying spouse.
Whether assets are being fully and properly disclosed
Insight with respect to pension plans
Cash flow management before, during and after separation or divorce

Financial analysis of the couples’ assets, liabilities, incomes, child support obligations, spousal support payments while considering the long term effects of inflation and taxation.

Sample Report

The traditional 50/50 division of assets can often lead to an unsatisfactory outcome for at least one person. It may be equal for now, but is it equitable?

Graph showing an unsatisfactory financial outcome over a 30 year span for one partner in a divorce.

These results are dependent on the assets retained by each spouse. A different selection of assets would yield a different and more equitable result.

Frequently Asked Questions

What does a Financial Divorce Specialist do?

Assists clients in understanding their financial situation and the process they are going through and facilitates goal setting for financial security. He/she provides clients with a reality check that could eliminate costly mistakes going forward. An FDS provides information as to the implications of the choices being considered taking into account tax costs, inflation, growth and cash flow both today and for years ahead.

Why do I need an FDS when I already have a lawyer?

A family is always faced with dividing assets and money issues when going through a marital breakdown. Having an objective third party specially trained in financial matters offers insight that can help avoid making costly choices. Lawyers are trained in legal issues, not financial or tax areas and they often prefer not to deal with this area in great depth. The team approach provides the best solutions possible for a stronger financial future.

What is the approximate cost?

It depends on the complexity of the situation which determines the amount of hours involved. We can provide an estimate

Will an FDS do the complete divorce without a lawyer?

No, the role of an FDS is to deal with the financial areas of a separation or divorce as they are not trained as lawyers. It is recommended that you use a lawyer to deal with all the legal aspects of your case.

Will using an FDS mean getting a bigger settlement or more support?

Not necessarily, an FDS provides information and specialized reports to give you the tools to make better choices. This usually results in a more satisfactory settlement for everyone involved.