Generally speaking, the dependent spouse suffers more financially during divorce. Sometimes, that is a woman, and it becomes even more important to understand your finances and what they may look like in the future. You want to minimize financial vulnerability in the long run. Even if you are the primary wage earner, having someone that is on your side of the table is important during this process.
According to yourdivorcequestions.org the financial burden is greatest during the first year after divorce and varies depending on: (1) how much money the woman contributed to the family income before divorce, and (2) the ability and willingness of her former husband to make child support payments.
When you’re dealing with the complexities of a divorce, you need financial expertise that’s both trustworthy and customized to your individual situation. We know it is an especially challenging time, even when you are comfortable with your personal finances.
CDFA’s are financial professionals trained in the complexities of divorce finances. And use education, training, and experience to help divorcing individuals split assets fairly and establish a financial plan for the future. Already trained as accountants, investment advisors, or financial advisors, CDFA’s receive specialized training to help divorce clients gather necessary financial information and develop financial projections based on different scenarios.
Jessica helps clients determine the short-term and long-term financial impact of any proposed divorce settlement. She can also provide valuable information on financial issues that are related to the divorce, such as tax implications, dividing of retirement plans, and more.
Whether you have hired an attorney or not, we guide you through gathering the marital financial facts and organizing them, and understanding what they mean to you.
Empowering women through financial literacy!
Chaos theorists believe that a small change in one area can have an enormous impact in another area far, far away; this is referred to as the 'butterfly effect". At BrainstormingWomen, we believe that small deliberate steps to improve your finances will go a long way in helping you build wealth. We are on a mission of empowering women through financial literacy and helping our clients understand their financial picture so they may plan ahead for a bright future.
Women who are single, widowed, or separated/divorced face the challenge of identifying the needs that must be addressed today while setting and working toward goals for tomorrow. These can often seem like impossible tasks for women in transition.
While women have longer life expectancies than men, they generally earn less over the course of their lifetimes; on average, they spend time out of the workforce either raising children or caring for parents. Adding to this the responsibilities of caring for a family or dealing with a sudden-wealth-event, and financial planning can feel hopelessly confusing.
At BrainstormingWomen we know that each person has their own individual needs and that the financial planning needs for women can be complex.
We can help.