Are you about to get a divorce or currently going through one? Here are some things to consider from Scott Birmingham, CFP® and Jeff Tomaneng, CFP®, who both hold their CDFA® (Certified Divorce Financial Analyst) certification and help individuals going through a divorce with their financial plan.

Ø Use an attorney who specializes in divorce or family law.

Ø Have money in the bank for typical life emergencies and to cover moving/housing expenses.

Ø Look at what expenses will look like down the road – what happens when alimony or child support ends?

Ø Set up a journal or cash transactions

Ø Freeze joint credit cards

Ø Consider if all asset divisions are equitable – some may have additional expenses associated with them

If you need help with your financial plan call Asset Management Resources at (866) 771-8901. We offer a complimentary consultation.

Recorded on August 17, 2023.