These days, it’s no secret that about 50 percent of marriages in the United States end in divorce. Despite these statistics, few women are prepared for the possibility of a divorce and what financial challenges it may bring. Unfortunately divorces happen, but it's important to get back on your feet as quickly as possible when it comes to your finances. Going through a divorce is not only emotionally draining but can also create a tremendous amount of financial stress. We can help you transition through divorce by helping you create a new plan for your future. You don’t need to go it alone; Lifetime Advisors Group is here to help you every step of the way.
Our firm has experience with pre- and post-divorce challenges. Whether you simply need the perspective of a financial advisor on how your divorce will affect your economic health, you need help building a team of professionals to get you through it all, or you just want advice to help reprioritize and take control of your financial future after your divorce is finalized, we are there for you every step of the way. As much or as little as you need us to be.
Analyzing your income, expenses and assets, and making recommendations regarding the division of marital assets is the first step to your new financial house. Our goal is to help you pursue your goals and maintain your lifestyle, while giving you the financial confidence to rebuild your life. Our team has helped countless women with varying financial and family situations through this type of life transition, by acting as counselors before, during, and after divorce. We are here to talk, educate, coach and mentor you to success.
Update your financial accounts
Be sure to close all joint accounts and open new accounts in your own name. Update your beneficiaries on all your accounts, including your insurance and retirement savings accounts.
Make a new financial plan for your personal finances with the help of a financial advisor
You want to focus on rebuilding and take ownership of your finances in their entirety. For instance, budgeting, building up your emergency fund, be aware of your tax planning, evaluate your retirement savings
Redo your wills/trusts and powers of attorney as well as your healthcare power
Be aware of your social security benefits and what you are entitle to now or in the future
Be aware of tax implications on any QDRO’s, settlements, debt, etc
You don’t need to go through this alone, we can help you with all aspects of your finances, investments, tax planning, social security options and more. We are here to help you.