Needs

  • Budgeting and cash flow
  • Affordability on new level of income, are alimony and child support paid/received, has work situation changed
  • Determining which assets are to be retained, forfeited, split (if divorce not yet finalized)
  • Determining retirement plan contributions and investment allocation
  • Retirement contribution options if no plan through employer
  • Rollovers, asset consolidation, QDROs if applicable
  • Determining affordability of college educations, if applicable, and which parties are involved to what degree
  • College savings options, plan for who will pay, accumulation projections
  • Retirement projections and assessment of income sources
  • Life (on self and possibly ex), disability insurance, and/or long-term care insurance
  • Wills and legal documents post-divorce
  • Tax considerations

 

Process

  • Initial consultation (no cost, no obligation)
  • Planning-type meeting, discuss short and long-term goals
    1. Asset/income split discussed if not already finalized
    2. Budgeting, cash flow
    3. Affordability of goals
    4. Written recommendations and client “action steps” provided
  • Investor Education
    1. Assessment and discussion of tolerance for risk in the financial markets
    2. Explanation of basic investment concepts and management process
    3. Investment recommendations
  • Accounts transferred/rolled over/acquired via QDRO
  • Ensure appropriate insurance and legal documents are in place post-divorce
  • Cycle for periodic investment and financial plan review begins