When you marry someone in Pennsylvania, you may pool your earnings with this person and plan how to fund your retirement together. Yet, if the marriage ends, you may find that your financial future looks quite a bit different. If you have concerns about having enough for retirement or maintaining a lifestyle that is similar to the one you do now after your divorce, you may want to consider making a financial advisor part of your divorce team.
According to U.S. News and World Report, a financial advisor specific to divorce may have certain credentials or skills that help you set and achieve financial goals despite your split. More specifically, you may find that a divorce financial advisor is able to help you when it comes to the following.
Finding hidden assets
If your ex is hiding assets online through cryptocurrency or other means, a financial advisor may be able to help you find these hidden income streams using technologies or techniques you may not know about.
Many financial advisors also have training in valuation. Thus, they may be able to help you determine the value of assets you must then divide between you and your former partner.
Understanding tax implications
Divorcing your spouse and dividing up your assets has ramifications when it comes to your taxes. A divorce financial advisor should be able to help you anticipate these ramifications and plan for them appropriately.
This is just a brief synopsis of some of the ways a divorce financial advisor may be able to help you navigate your split. Ultimately, the advisor’s goal is to help make sure your divorce set is fair and equitable.