Navigating your way through a divorce, but concerned with how to help ensure that you receive everything you deserve? You are not alone. Many women facing similar circumstances have valid fears about not getting everything owed to them when they divorce, but new research shows that only a small percentage of women hire financial advisers to help them.
According to Forbes, less than 5% of divorcing American women enlist the aid of a financial adviser during a divorce, even though doing so may lead to substantial financial benefits. Because the financial implications of divorce may, in some cases, last a lifetime, it is essential that you devote a high level of attention to the financial aspects of your divorce. In fact, more than 60% of divorced women contend that they wish they had hired a financial adviser while their divorce was ongoing.
Just how might this type of professional help you navigate your divorce case?
By helping you cover all bases
Financial advisers who have worked on divorce cases before know where to look for items of value that you might forget. While you may know that your marital home might be one of the most substantial assets you are going to have to divide, you may not take into account other high-value items, such as wedding rings, college savings accounts, heirlooms and so on. A financial adviser may be able to help you identify valuable assets that you might otherwise forget about, improving the chances of you receiving your fair share.
By helping you identify and reach your goals
Research shows that many divorcing women share similar goals. For example, 66% say that paying off debts is their biggest objective, while another 41% are most concerned with having enough set aside to retire comfortably. A financial adviser helps you determine what you want to achieve financially so you are able to set a plan in motion to do so.
It is easy to have clouded judgment when going through a process as emotional as a divorce. Having someone who takes emotions out of the equation and focuses solely on finances may lead to big returns in the long run.