Over Three Decades Of Resolving Family Law Issues In Montana

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Do you need a financial analyst for divorce?

On Behalf of | Dec 28, 2021 | Divorce |

You don’t have to manage your divorce in Montana without help. With the assistance of a lawyer, you can navigate your divorce more tactfully. With the help of a financial professional, you can ensure that your new life doesn’t turn into a financial ruin. Financial planning, accounting and divorce law are mainly what a certified divorce financial analyst works with, but here’s what else they do.

Creating post-divorce budgets

Your divorce might be necessary, but it will change your finances indefinitely. It not only costs you to complete a divorce, but the living expenses you’ll have afterward will follow a different pattern than married life. Working with a financial analyst helps you to assess what your future financial needs are. This professional can then develop a financial plan for you.

Assessing property values

Your spouse might not disclose the true worth of their assets. Additionally, you might not know how to value the assets you have. You need to know what everything is worth in order for your divorce to end off with an equitable division of assets. The valuations made by a financial aide enable you to accurately negotiate with your spouse.

Dividing your assets

The financial analyst is also trained to divide your assets for you. Though they determine values and prices, they can also give you insight into what you should ask for or leave behind. Not everything you initially want will be worth the same once the divorce ends. Your financial analyst can assess how much your assets will be worth after taxes or creditors.

Maintaining their fiduciary role

Whether for a divorce or a financial portfolio, financial advisors have a legal responsibility to be mindful of your well-being. It’s not just about them giving you good service. By law, anyone who acts in the role of a fiduciary can only work in the financial interest of their clients.

Divorce in Montana

When assessing a financial analyst, be sure to question them on their credentials. Ask them about past experience and any certifications they have in order to determine if they will be a helpful professional to get you through your divorce.