When you and your spouse make the decision to divorce in Maryland, you need to figure out what is yours, what is your ex’s and what assets and debts belong to both of you. While dividing up your assets and debts is essential, so is planning for your future now that you are no longer going to have two people contributing financially.
U.S. News and World Reports notes that adding a financial advisor to your divorce team may go a long way in terms of helping you manage the financial aspects of your split. You may find it useful to work with one of these professionals if any of the following describes your situation.
You think your ex is hiding assets
Nowadays, the internet makes it easier than it used to be for one party in a marriage to conceal assets from the other. However, a divorce financial advisor may have special training that helps him or her uncover these hidden assets or income streams.
You have assets of undetermined value
Many divorce financial advisors also have training in evaluating assets. This may come in handy if you are having difficulty determining the value of certain assets so that you may split their worth accordingly.
You have concerns about retirement
After a divorce, your retirement plan may look quite a bit different. A divorce financial advisor may be able to take into account how long you have until retirement and help you put appropriate plans in place so that you maintain a comfortable lifestyle once you get there.
This is just a brief summary of some of the ways in which adding a financial advisor to your divorce team might benefit you as you navigate your divorce.
