Anyone who has ever been through a divorce should be able to attest that it is often a highly emotional time. In addition to disentangling your life from your former partner’s, you are also going to have to figure out how to divide any assets you share. For some former couples, this process proves more complicated than it does for others.
Increasingly, divorcing women who wish to make sure they receive everything they deserve in their splits are enlisting the aid of financial advisors. According to Forbes, only about 5% of divorcing women are aware of the advantages that come with using a financial advisor, but 61% of divorced women wish they had used one while their case was ongoing.
How they assist
Just how might a financial advisor be able to help you amid divorce? For starters, many women rely on financial advisors to help them identify and move toward their financial goals. These days, about 66% of women prioritize paying off debts, while another 41% prioritize having enough set aside for a comfortable retirement. Financial advisors may be able to help you use your divorce as a starting point to accomplish these or similar financial objectives.
Some divorcing women hire financial advisors because they fear their spouses are concealing assets or income sources, and they believe the advisor may be able to help them uncover these actions. Others, yet, hire financial advisors because they want assistance identifying items of value they may have otherwise overlooked.
While your emotions may take a hit in the aftermath of a divorce, you may be able to minimize the impact on your finances by having a financial advisor assist you.