Divorce

white sailboat sailing on ocean

The average cost of
DIVORCE is $18,400.
The average cost
of a WEDDING?

$28,427

Source: U.S. Census Bureau

Dealing with divorce.

Regardless of the circumstances, parting ways with a spouse is emotionally and financially challenging. While the financial and legal realities of being newly single will be different for everyone, planning ahead can make what will undoubtedly be a painful time a little easier. We can work with you and your team of professional advisors to help protect your interests before, during and after your divorce. And when it comes time to stand on your own, we’ll be there to help you see the possibilities more clearly.

You won’t have to do this alone – you can count on us to help you with:

  • Take stock. Seek counsel. Money matters.

    Regardless of your situation, careful preparation not only helps with the financial and emotional stress now but also for the long term.

    • Learn how your state addresses divorce, gather vital information and documents and tally joint and personal assets.
    • Build a team of trusted professionals and personal confidants who will provide level-headed advice.
    • Develop a budget to ensure enough cash to cover expenses throughout the process. Use credit cards wisely and keep tabs on your credit score.
    • Consult people you trust before making large financial decisions.
  • Compromise and civility are key.

    During negotiations, it’s important that you protect yourself, your future and that of your family during this process.

    • Seek trusted legal, financial and personal counsel to help consider the long-term impact of decisions being made.
    • Separate your finances and get the bills sorted out to keep from damaging your credit. Make credit card balances a priority.
    • Work with your financial advisor and tax professional to minimize tax liabilities.
    • Know your retirement and Social Security options. You could be eligible to receive a portion of your spouse’s benefits.
  • Start your new life in the right direction.

    Taking the time to plan for your new life can help make the transition much smoother and ensure that divorce does not derail your financial plan.

    • Get a handle on your finances and debt. Reassess your financial and retirement plan to align with your short- and long-term goals.
    • Update fiduciary and beneficiary information. Immediately update your will, estate plan documents and beneficiaries information on insurance policies and retirement plans.
    • Establish your new identity. If requested with your divorce petition, make your name change official. Notify your employer and update all necessary accounts.