No one person is going to be able to take care of every aspect of your divorce, so building the right team of divorce professionals is important.
Understanding the complexities of your case is the first step. Do you have a lot of assets to split? What about the investments? What about the impact of taxes? Do you understand executive benefit plans like stock options and non-qualified deferred compensation plans? How complex are the financial issues of your case? Once we identify the complexities and understand your goals, we can begin, with the end in mind. So – what is your ultimate goal?
- Is it financial security?
- A guaranteed income?
- A tax efficient division of the assets?
Now we can start forming your divorce team. Together, we will discuss what kinds of professionals should be part of the team; we also look at whether an individual team member will work well with the rest of the team.
- Good legal counsel is a must. Ideally, you want someone who practices family law exclusively. Your attorney should listen to you and welcome help from other professionals.
- We recommend including a financial professional who is a Certified Financial Planner ™ practitioner (CFP ®) and who also holds the Certified Divorce Financial Analyst (CDFA ®) certification. You need a financial professional who has a deep understanding of the financial issues of divorce.
- Getting divorced can take an emotional toll on you. You may lose some friends. You may feel like you are “half of a couple”. You may need help getting through the process and redefining yourself, so consider a therapist or divorce coach to help.
- In some cases, a mediator, parenting evaluator or child psychologist may be necessary.
Most divorce disputes are legal and financial, so it is important to have professionals who can answer your questions. At Feldmeyer Financial Group, we can answer your financial questions, serve as a financial neutral for you and your spouse, or organize the data to give to your divorce attorney, and serve as your advocate in your financial decision making. We will be available as a responsible partner so that you aren’t going through this alone.
If you want help building your divorce team and reaching your ultimate goals, contact our office.
Ben Feldmeyer, CFP®, CDFA®, CLTC® is a Private Wealth Advisor and President of Feldmeyer Financial Group, a private wealth advisory practice of Ameriprise Financial Services, Inc. For more information, please visit the Feldmeyer Financial Group Divorce Magazine online profile.
The initial consultation provides an overview of ﬁnancial planning concepts. You will not receive written analysis and/or recommendations. Ameriprise Financial and its aﬃliates do not oﬀer tax or legal advice. Consumers should consult with their tax advisor or attorney regarding their speciﬁc situation. Investment advisory services and products are made available through Ameriprise Financial Services, Inc., a registered investment adviser. Ameriprise Financial cannot guarantee future ﬁnancial results. Certiﬁed Financial Planner Board of Standards Inc. owns the certiﬁcation marks CFP®, CERTIFIED FINANCIAL PLANNER™ and CFP (with ﬂame design) in the U.S. The Compass is a trademark of Ameriprise Financial, Inc. Ameriprise Financial Services, Inc., Member FINRA and SIPC. © 2018 Ameriprise Financial, Inc. All rights reserved.