The use of neutral financial professionals in the divorce process is relatively new, but is a rapidly growing trend. Despite a lack of formal training in personal finance, attorneys and mediators take on the roles of financial analyst and adviser. This has been an area fraught with danger, both from the divorce professional’s and the client’s point of view.
Financial planners are recognized experts in personal finance. Because they have traditionally helped individuals achieve long-term financial goals, such as saving for college or retirement, they have specialized training and skills that enable them to analyze financial issues in their long-term context. They are able to provide insight into how a particular division of assets might play out over time.
Divorce financial planners can help couples and individuals going through divorce focus on the difficult financial issues that must be addressed. It empowers individuals to make wise and workable decisions regarding the hard, but often-necessary lifestyle adjustments. People frequently feel more secure about the choices they make, are able to reach workable settlements more quickly and are less likely to be forced to revisit financial issues in the future.
Not all divorce financial planners are trained to work in a neutral capacity. Be sure to find a professional who is trained in mediation and collaborative divorce. If you live in the Los Angeles or Ventura County area, feel free to contact me to find out how working with a neutral divorce financial planner can benefit you.