Sometimes the hardest questions when going through a divorce are those that you aren’t aware you should be asking. Thus, I wanted to summarize below the most common questions I answer and topics I prioritize with my clients as we work through their divorce.
If you are considering a divorce, you are not alone. Statistics show that almost 50% of all marriages in the United States will end in divorce or separation.1 While divorce is becoming less common for younger adults, rates for those adults age 50 and older has roughly doubled in the past 25 years.2
This checklist was created to help you organize your affairs after a divorce. Your individual situation will dictate other items which may need to be addressed. We suggest discussing your plans with the executor of your will as well as consulting with your legal, financial, and tax advisers. The time to get these professionals involved is before an event occurs – plan ahead. Select a few items below to get your momentum started and then continue through the list focusing on what you find most important. Your financial planner can help you organize and prioritize which topics to tackle first.
This checklist was created to help you organize your affairs before or during a divorce. Your individual situation will dictate other items which may need to be addressed. We suggest discussing your plans with your “divorce team”: your legal, financial, and tax advisers. The time to get these professionals involved is at the beginning stages of divorce, but it’s never to late to get started. Your financial advisor will be able to help you prioritize your financial goals throughout the divorce process.
If you are contemplating a divorce, going through one now, or have recently finalized a divorce, you know there are many moving parts that need to be considered.
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