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Protect Yourself Before Getting Divorced: Here's Why Women Should Consult NJ’s Top Female Financial Planner

Financial advisors and planners are often the last things on women’s minds when they are going through a divorce, but it turns out they could be making a big mistake if not getting the right professional financial advice to help to keep their finances on track. 

Financial instability is one of the main concerns among women who are going through a divorce. Despite this being so, over 95% do not consult a financial planner when it comes to their finances despite having goals they want to achieve financially, including what’s best for them in regards to asset distribution after separation.

The downfalls of not seeking financial advice from women who are going through divorce are more than what women can imagine. They have the potential to affect future generations and even themselves in years ahead.

The biggest problem is a lack of awareness. Most women don’t know how a financial advisor can benefit them early on in the divorce process, and only 5% were aware that using one as part of the team will make the difficult time much smoother for everyone involved!

Many women feel like they did not have the information or tools necessary to work through their finances when going through a divorce, and that’s why 61% of them said it would have been valuable for them if there was someone who knew what they were doing. They believe that working with a financial advisor would be valuable and important for their attorney as well in future divorces or if there are other issues relating to when you were married such as alimony payments.

How Financial Planners Can Help Women Going Through Divorce

Let Lori Brand at BetterWealth Financial Strategies For Women, devise your divorce financial planning checklist. One of the most difficult things to manage during a divorce is how much alimony will be paid if any. Financial planners can help with this because they understand what types of finances are at play and make sure that both spouses receive an appropriate amount for their needs, which may include child support as well.

A divorce financial planner can help you think through your lifestyle to gain a better understanding of what is going on concerning expenses before and after the divorce. This might be especially important for women who haven’t been involved in paying all those bills, managing investments, or buying insurance—so it’s nice having someone who can help make sense of it all with you.

Financial advisors can help you uncover critical financial assets that might not be on your radar. These hidden gems are crucial for making sure you get what’s fair in a divorce and avoid getting screwed over by the other person who knows more about these things than anyone else! One important example is an unnoticed asset such as dower rights (the right to collect part of your spouse’s property).

A few big-ticket items many people don’t think twice before giving up without even knowing they’re doing so include:

  • The marital home
  • Engagement and wedding rings
  • Fine jewelry
  • Heirlooms and antiques
  • Bank and retirement accounts
  • College savings accounts
  • Stocks and Bonds

Hidden Gems to Look Out For

BetterWealth Financial Strategies for Women

The marital home is an important consideration. Not only is this often valuable equity in a house, but you and your children, if any, will need to live somewhere after the divorce has been finalized.

The family’s first priority should be deciding what they want for themselves during their split custody agreement or alimony payments rather than fighting over whose possession it’ll eventually become so that way there isn’t as much collateral damage done on either side just trying to gain some kind advantage from changeable terms.

Online resources can give you a good idea about the value of your home, but it is important to work with experienced financial advisors before making any important financial decisions!

In most states, an engagement ring is not considered a marital asset because it’s a gift that arrives before the marriage. This means women keep their rings as separate property in divorce and men never get to see them again!

It’s no secret that weddings cost a lot of money. Engagement rings are also costly, with an average price tag in the United States ringing up at just under $5000 for women and $510 on the low end if you’re male; however, this is not all they can be worth considering how expensive things will likely get. One way is by selling your jewelry, if you have a ring that needs to be sold, Then there’s always a place for it that offers help and advice on how best to sell jewelry bought as well as where buyers can find good deals themselves! Even if you sell your rings for half their value, a $3,000 investment with an annual return of 7 percent can grow to nearly 12 thousand dollars in 20 years.

Heirlooms and antiques that are passed down from generation to next can hold a significant amount of value but aren’t typically considered marital property. On the other hand, bank accounts, college savings accounts, and retirement savings can be substantial financial assets. In fact, they’re often among one person’s largest investments in life!

One in five married ladies will hand over the financial authority to her husband during the marriage but a woman should take back that power once the two are separated or divorced because it’s important she plays an active role in how things work after court proceedings end. Many women struggle to maintain the same lifestyle they had during their marriage, and a financial advisor can help you see what’s coming down the pipeline for yourself. This way of thinking is crucial in order to make informed decisions about how your assets will be divided when separating monetary accounts or other assets like homes with mortgages on them (or even titled solely as “house”), savings/checking accounts that might have joint ownership but different beneficiaries; any retirement funds(s) held by jointly owned companies – these are all things most people don’t consider until they’re already separated!

Divorcee Women Have Their Financial Goals

Some Financial goals women have for their future:

  • 66% hope to pay off their debts
  • 41% want to save more retirement funds
  • 38% would like to have their own emergency funds
  • 27% aspire to acquire a new home
  • 20% thrive to establish more streams of income
  • 19% are hoping to build up their wealth through investments

Divorce is a traumatic experience for many people, but the financial consequences can be even harder to handle. The emotional aspect of divorce means there’s often not much time or energy left over for strategizing about what is the best approach to your finances as part-way through this process may seem daunting and overwhelming with so many other things at stake–especially if you’re feeling uncertain about what kind of future lies ahead post-divorce. Monmouth County’s top female financial planner, Lori Brand, has many years of knowledge in helping others prepare financially before their weddings become final orders through matrimony mediation or litigation; Within a divorce, they will put both parties’ needs first during negotiations which ultimately leads towards turning dreams into reality: achieving goals!

A woman’s ability to plan for the future is dependent on her financial status. A lack of money can leave a person in a desperate state, especially if they are going through a divorce and don’t know how it will affect them financially. If you’re one about to go through, are going through or are already a divorcee, then it is highly recommended to seek out professional assistance from qualified financial planners at BetterWealth for Women – they’ll make sure everything stays under control no matter what happens!

 Email to connect now with NJs best female financial planner to see how to get your finances on track today!

 lbrand@betterwealthforwomen.com.

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