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Financial Planning for Divorce or Separation

Separating or divorcing couples face a major transformation in each of their financial circumstances. Two households must survive on the same income or budget formerly supporting one. Planning for the future is an essential part of every separation agreement or divorce settlement.

Since settlements are in large part financial, Urist Financial and Retirement Planning is qualified to explain your options, help you set priorities and lead you through the hard choices ahead. Urist Financial and Retirement Planning can help you plan for your future by providing accurate information that can allow you to answer the following questions:

  • How do I take control of the divorce process?
  • How can I gain a clear understanding of my current and future financial picture?
  • How can I be more focused on reaching a fair and workable settlement?
  • How can I negotiate more effectively?
  • How can I ensure a faster resolution of all financial matters, equitably, for both spouses?
  • How can I minimize legal fees and taxes?
  • How can I maximize marital assets?

Financial planning is an essential resource before, during and after a divorce. Divorce is wrought with extreme emotional and financial turbulence. Histories that bound families, friends and home life are disrupted. Standards of living are often changed, affecting not only the spouses, but children as well.

In New York State, the division of assets can be complicated. Certain assets (those held before a marriage or inherited while married) may not be required to be divided. We can help determine what assets may be available to the settlement. Urist Financial and Retirement Planning can show you the current and future impact of separating the different assets on living standards, cash flow, and future life style changes.

Urist Financial and Retirement Planning is your advocate in a divorce or separation. We have the experience to answer your questions and assist you through all stages with the following services:

Before Divorce

Review Current Situation

  • Consolidate and Value Assets
  • Analyze Liabilities
  • Estimate Immediate Needs
  • Prepare Statements of Net Worth
  • Develop Realistic Budgets

Long Term Planning

  • Discuss and Prioritize Goals
  • Estimate College and Educational Costs
  • Compare After-Tax Asset Sales
  • Project Retirement Needs
  • Analyze Insurance Needs

During Divorce

Divorce Settlement Analysis

  • Look at After-Tax Proposed Settlements
  • Estimate Maintenance Needs
  • Analyze Long Term Cash Flow and Net Worth

After Divorce

  • Oversee Asset Transfers
  • Create an Investment Plan Within Your Risk Tolerance
  • Manage Investments
  • Monitor Results
  • Update Financial and/or Investment Plans

Each divorce or separation situation is unique and requires the knowledge and experience to ensure you do not make mistakes which can cost unnecessary taxes and penalties. Urist Financial and Retirement Planning has assisted clients with these issues over many years and can provide assistance so that your situation is handled correctly and efficiently.

Urist Financial and Retirement Planning can provide you with practical, independent, objective and easy-to-understand information about your financial situation. We have the experience to answer your questions and assist you through all stages of your divorce.

If you would like to confidentially discuss your situation to determine if we can help, please call our office or click here to schedule a no-fee, no obligation appointment.

This information is not intended to be a substitute for individualized legal advice. Please consult your legal advisor and/or divorce attorney regarding your specific situation.

Start planning now.

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