When you or your spouse initiates a divorce in New Jersey, the two of you are going to have to figure out what belongs to who, what debts you must pay and how you might get by financially in the absence of your partner. More and more, individuals navigating divorces and grappling with these matters are finding that hiring financial advisors puts them in a better financial place, post-split.
U.S. News and World Reports notes that a divorce financial advisor helps you navigate and plan for the financial implications of your divorce. More specifically, a divorce financial advisor may be able to assist you with the following.
Planning for retirement
Depending on your age, planning for retirement may be one of your priorities. A divorce financial advisor should be able to help you figure out ways to maximize your income after retiring.
Finding hidden assets
Not everyone is honest and upfront during a split, and if you believe your ex is trying to hide assets from you so he or she does not have to share them, a financial advisor may help you get to the bottom of things.
Many of today’s divorce financial advisors have training that enables them to help you determine the value of assets, such as jewelry or fine art. A divorce financial advisor may be able to help you figure out the value of certain assets so that you may divide them fairly between you.
These are just some of the many ways a divorce financial advisor may be able to help you plan for your financial future after your marriage ends.