Divorce impacts all aspects of your life, including your investments. The divorce process is emotional — and understandably so. However, when it comes to protecting your financial goals, it is best to put aside your emotions and look at things with a level head to ensure you are getting your fair share during divorce negotiations.
Your financial goals will likely change after the divorce. It is important to understand how your investments and other financial accounts will be affected so you can plan accordingly. Working with your attorney and other professionals, such as a financial adviser, can help you explore all options and create a plan.
Every divorce case is unique. Your specific situation will need to be carefully evaluated. However, below are some general guidelines to consider during your divorce to make things go as smoothly as possible when it comes to your finances:
Taking these steps before divorce negotiations can make all the difference in your settlement. It is also important to work with an attorney who can make sure your specific needs and concerns are addressed.
Source: US News, “How to Handle Investments When You Divorce,” Lou Carlozo, Nov. 16. 2015