Divorce Financial Planner | Annuity Watch USA

Divorce Financial Planner: Navigating the Financial Challenges of Divorce

When facing the life-changing decision of divorce, there are countless emotional and logistical hurdles to navigate. Many individuals tend to overlook the financial implications of divorce, a crucial aspect of the process. Working with a divorce financial planner can help you make sense of the financial maze that often accompanies the dissolution of a marriage.

During Divorce: 4 Key Financial Considerations 

#1: Dividing Up Retirement Plans 

If you do not have an existing pre-nuptial agreement in place, one of the first tasks you’ll need to tackle is how to divide retirement plans like 401(k)s or IRAs. A Certified Divorce Financial Analyst (CDFA) helps you understand the legal ramifications, tax implications and long-term impact on your financial security. 

#2: Understanding Social Security Benefits 

Depending on years married, you might be eligible to claim social security benefits based on your ex-spouse’s earnings record. A Certified Divorce Financial Analyst (CDFA) can help you evaluate the best strategy to maximize your benefits. 

#3: Tax Implications 

The division of assets and spousal support payments come with their own tax implications. Failing to consider these could leave you with a significant tax burden. A CDFA can help you understand these nuances, ensuring you’re not caught off guard when tax season comes around. For example, if dollar for dollar you split assets evenly but one party ends up with the assets that have larger tax implications this would ultimately be a very uneven split. 

#4: Marital Debt 

Don’t forget about debts that may have accrued during the marriage, such as houses, cars, and other loans – big or small. If you are seeking a divorce financial planner to assist you with understanding the division of marital debt, a CDFA can work with you to craft strategies to equitably split and manage debt after the divorce. For example, in most instances the mortgage loan should be refinanced or the property should be sold so that the mortgage is in the appropriate parties names that are responsible for the property. 

How DeWitt & Dunn – Your Trusted Source for Financial Matters through Divorce 

As a CDFA based in the Dallas/Fort Worth metro area but licensed nationwide, Cathy specializes in the financial complexities of divorce. While your attorney will provide legal counsel, Cathy will thoroughly analyze all financial matters, including tax consequences, retirement plan division, and more. Cathy works side-by-side with your divorce attorney to build a solid financial case supporting your best interests. 

In addition to our services, we also offer a Divorce Financial Checklist as a free resource. This checklist helps you gather all your relevant financial information before you consult with an attorney or a CDFA. Being knowledgeable through the process can save you time and money during this emotional experience. 

Take Control of Your Financial Future 

Divorce is never easy, but planning ahead can alleviate some of the stress involved. Understanding your financial landscape is crucial in making informed decisions that will impact your future. 

We invite you to schedule an appointment today to discuss your specific situation in detail. 

Cathy works with clients with a minimum of $500,000 in assets, not including their home value. You may schedule a face-to-face appointment in our Addison, Texas office or can reach us by phone at 972.473.4700. 


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