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Could a financial specialist help me with my divorce?

When a divorce comes to a close, the larger the marital estate, the more difficult and complicated it will be to divide. In fact, you may not know the correct value of certain assets, or you and your spouse might fight and argue over how much certain assets should be valued. Don't forget about taxes, either, as they could factor into your asset division process as some of your assets will have capital gains taxes associated with them.

All of these financial concerns can add up to become a complicated mess, which is why many Minnesota spouses contract the services of a divorce financial planner to assist them with their asset division proceedings. A divorce financial advisor will have the expertise required to divide one's assets. These professionals often partner up with lawyers in order to keep divorce costs at a minimum, while speeding up the asset division process and making it more accurate.

In some cases, a financial planner may play the role of neutral third party to assist both sides of the marriage in organizing their financial records and tracking down the value of certain assets. This would be in lieu of both spouses hiring their own separate professionals to carry out this process which would end up doubling costs in the long run. Usually, however, the financial planner will represent just one of the spouses both during and after the divorce process.

Other divorce financial planners may appear as expert witnesses during divorce proceedings. These experts can play a crucial role in proving your side of the case when questions arise over how your marital estate should be divided.

If you can see the value of bringing a divorce financial planner onto your divorce team, be sure to discuss the possibility with your Minnesota divorce lawyer. Your attorney may have connections to divorce financial planners and financial expert witnesses who can help you in this regard.

Source: Star Tribune, "Specialists help to navigate financial split in divorce," Brad Allen, accessed June 02, 2017

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