Teamwork Between Attorneys and Wealth Managers Yields Best Results

Serving Families Throughout Woodland Hills

A divorce can be a stressful and confusing process. There are many questions as to how the case will progress, and what the overall outcome may be. One of the most frequent concerns that arises is what the financial situation will be in the aftermath of the marriage. Fortunately, with the help of a team, you can properly plan for your financial future. A wealth manager, working alongside your dissolution attorney, can help prepare a strategy to ensure your financial goals are achieved. The wealth manager can also work with you long after the dissolution to continue to manage your financial portfolio and ensure you are able to continue obtaining your financial goals.

A wealth manager can be an asset to your case in a variety of ways. One such scenario involves a long-term marriage, in which the one spouse has not been involved in financial planning or managing the assets, and during the dissolution becomes anxious and worried about how he or she will manage the daily expenses when they are on their own. This is especially true for older clients, who may be nearing retirement. A wealth manager can help prepare a financial plan that will allow that person to secure the income they need to comfortably retire. The attorney then works with the wealth manager to negotiate the best divorce settlement that gives that person the necessary spousal support structure (a buy out or monthly payments) and negotiate the proper asset distribution to make the mangers plan viable. After the dissolution is done, the wealth manager continues to work with them to ensure her post-divorce life is a lot more comfortable. In this scenario, the wealth manager is brought in during dissolution negotiations to help advise and work together to achieve the client’s financial goals.

In another scenario, the wealth manager consults with the attorney, when he or she learns that their client is going through a dissolution. Between the two professionals, all of the client’s financial matters are taken into consideration, and the client is informed as to the cost/benefit of fighting over some assets and not over others. The client remains educated and in control, as opposed to confused and vulnerable. This allows the client to stay calm and confident, even during a highly contested dissolution, and come out in a relatively good position to build a strong future.

There are many different ways a dissolution attorney and a wealth manger working together can give you the best possible outcome when it comes to your financial future. If you are going through a dissolution, it is highly recommended to seek the help of both professionals and work together to achieve your goals.