When you've made a decision to get divorced, you're eager to get things in order and move on as quickly as possible. A big part of moving on includes taking control of your finances.
For some people, it's the first time in their entire lives they have been in charge of their own money. First their parents and then their spouse may have always overseen the big financial decisions. They may never have balanced a checkbook, managed credit or opened a retirement account.
No single article can walk anyone through the long to-do list. But before your divorce is final, you'd be smart to sit down with a Certified Divorce Financial Analyst® (CDFA™) to make sure your final divorce agreement doesn't have long–term consequences that could negatively affect you or your children.
Here are some key issues you'll want to work on immediately with your professional advisor.
Justin A. Reckers, CFP, CDFA, AIF is Director of Financial Planning at Pacific Wealth Management, Managing Director of Pacific Divorce Management, LLC, a Board member of the Institute for Divorce Financial Analysts and President of the Collaborative Family Law Group of San Diego.