How a Divorce Financial Analyst Protects Your Retirement


divorce financial analyst

Protecting your retirement accounts after a divorce, requires the skills of a divorce financial analyst. A divorce financial analyst is someone who’s not only certified as a CPA, but also has additional training, is officially certified as a Divorce Financial Analyst. Many people in the midst of a divorce choose to invest solely in their divorce lawyer. However, having a divorce financial analyst on your side can make a difference to your settlement. This is especially true if you’re heading into a late-in-life divorce. With retirement looming, a divorce financial analyst can protect your nest egg when you need it most.

Accurately assess value of retirement accounts

Many couples don’t have separate retirement accounts. This is especially true if you were a one-income partnership. In this situation you have to look beyond the basic values of the accounts to decide which is more valuable. For example, you might have a tax-deferred count and an investment account that has had the taxes paid. Even if they have the same amount of money in them, the one that is tax-deferred is going to be worth less than the one that’s all paid up. Simply giving one account to one spouse and the other to the other will drastically short-change the one who has to pay taxes on their account.

While a divorce lawyer will have a passing familiarity with many financial laws, a Denver financial advisor will be better equipped to tell you which ones apply to your situation. Your financial advisor can tell your Denver lawyer which assets to fight hard for and which to compromise on to preserve your nest egg. Once you’ve gotten the right retirement accounts you can broaden your focus to other assets.

Helps you predict the future value of assets

Future assets are never a sure thing. Even stable investments like real estate can suffer a boom or bust. Accidents can ruin physical items of value. A bad investment choice can damage an investment account. Even when you know that there’s no such thing as a 100% sure thing, having a divorce financial analyst working with you, can help you pick and choose from the assets available to you. Then you can work with your lawyer to get the assets that will maintain or increase their value over time. Alternatively, you can structure what you take away, to put you in a more desirable tax bracket. Whatever your plan, your divorce financial analyst can draw up the blueprint.

Can help you build a retirement plan around divorce proceedings

Child support or spousal support payments can eat into your budget. If you’re closing in on retirement you can’t afford to slow down your planning. Working with a divorce financial analyst from the start will get you the help you need to balance your budget. Let a financial advisor Denver turns to guide your way to financial security in a difficult time.

Divorce is a difficult time emotionally and financially. A divorce lawyer can argue your case, but they won’t be knowledgeable enough to tell you what to ask for. A divorce financial analyst will assess the value of accounts and assets and help you build a retirement-ready financial plan.