Understanding Your Money

It’s not uncommon for one partner to have primary responsibility for the household finances in a marriage. Whether this unequal division of money management is intentional or not, it typically leaves one partner with little knowledge of their full financial picture—and, if the marriage ends in a divorce, that partner can be left in the dark about their own wealth.

At Smart Divorce Decisions, LLC, we specialize in helping divorcees to effectively manage their wealth before, during, and after their divorce. Not only do we provide essential wealth management services, but we also work to educate each client on their own finances and empower them to make informed decisions about how to manage their own money. 

Regardless of how much knowledge you had of your finances before your divorce, Smart Divorce Decisions, LLC, will help you to feel confident in making important financial decisions in the future.

While a divorce attorney will work to ensure that your legal rights are protected during the divorce proceedings, and will even negotiate terms for asset division, spousal support, and other financial matters, they rarely have a full understanding of your financial circumstances. Generally speaking, most individuals going through a divorce don’t discuss their financial goals, future expenses, retirement plans, and other such matters with their attorneys, which ultimately restricts the attorney’s view of your finances. This can lead to you receiving settlement terms that don’t align with your financial situation as a divorcee.

Unfortunately, if you don’t have a firm grasp of your finances when going through a divorce, it is all too easy for you to agree to terms that leave you in dire financial straits. Meeting with a financial planner before and during your divorce proceedings allows you to become financially educated and confident enough to negotiate more favorable terms for yourself. By scheduling a consultation with Smart Divorce Decisions, LLC, and improving your financial literacy during divorce, you can better protect your own financial future.

Have questions about the importance of financial literacy during your divorce? We’ve answered a few of the most common questions below, but strongly encourage you to contact Smart Divorce Decisions, LLC, today to receive guidance and advice based on your individual circumstances.

Finances are a major point of negotiation in any divorce, and your divorce attorney will certainly handle that aspect of your financial situation. However, as we stated earlier, divorce attorneys rarely have the full picture of your current and future finances. They will simply go over existing accounts and assets, and negotiate for what they believe to be a fair division of those assets. However, your finances involve more than just numbers on a paper. In order to truly address your future financial needs, it’s important to have a comprehensive financial plan in place and understand how your divorce factors into that plan. This gives you a better basis for negotiation and can empower you to be your own advocate for your divorce finances.

This is not an unusual situation for new divorcees or those who are considering a divorce. Many individuals (especially women) enter into divorce proceedings, only to realize how little they understand about the household finances. If you’re in this situation, the best thing you can do is start educating yourself as soon as possible. Get copies of statements for all accounts, and ensure you can access those accounts freely. Then, meet with a financial advisor to help you better understand your money during a divorce.

We understand how unmoored you may feel when going through a divorce. Uncertainty about the future can leave you feeling helpless, as if nothing is within your control anymore. But the financial planners at Smart Divorce Decisions, LLC, can help you take back control of your financial future after a divorce. We aim to empower, educate, and support our clients so that they can feel secure in their finances and confident in their futures once again. Call now to schedule your initial consultation, and start taking control of your financial future.

Of course! At Smart Divorce Decisions, LLC, we provide essential financial guidance and advice to divorcees long after their divorces are finalized. While we strongly encourage you to begin educating yourself on your finances before and during the divorce proceedings, we know that your journey to financial independence doesn’t end there. For many people, learning to manage their finances and set financial goals after years of having little involvement in the family finances can take years. Smart Divorce Decisions, LLC, will be there to support you every step of the way.

Financial literacy during divorce is essential to ensuring that your financial future is protected. Our financial planners can help educate you on important money matters, and coach you through the complexities of managing your finances during and after a divorce. If you need an advocate for your financial future, contact Smart Divorce Decisions, LLC, to schedule a consultation today.