Planning for your financial future is one of the cornerstones of a stress-free working life. You may have already consulted with a financial planner at previous stages in your life. Perhaps you saw an advisor for a couple of sessions to determine if student loans were the right choice for you, or to secure the best mortgage possible. Calmly and carefully assessing your finances through all of life’s twists and turns can give you a better handle on the long and short term as well as give you greater agency over any hiccoughs along the way.
One event which usually causes us to pause and reconsider our financial outlook is our marriage. While the early honeymoon period is awash with romance and optimism, joining two lives is very much an economic decision as well. Paycheques, mortgages, pension plans—these are all things that you begin to see as unified between you and your spouse. That is why when it comes to preparing for and dealing with divorce or separation, financial concerns are often at the forefront of your mind. We understand that this can be a turbulent time of renewal and change, so that is why we would like to take one worry off your plate by helping you find the right financial consultant to see you through your divorce.
How a Divorce Financial Consultant Can Help
No matter what stage of your separation you find yourself in, you likely have a picture of how the proceedings will unfold, and this picture probably has legal counsel front and centre. While lawyers are absolutely indispensable throughout this process, there are certain concerns that a financial consultant may be better equipped to handle. Having more hands on deck always helps, and we know you might be in need of a large support network at the moment. Here are some ways in which a specialized divorce financial consultant can help you make the best decisions for you and ease some of your worries going forward:
- Decisions about your home: Whether you are legally entitled to retaining a residence may not be the biggest issue. A financial consultant can help you decide if staying or selling is the best financial decision for your future.
- Custody and child support arrangements: While your legal team is the most qualified to outline the custody agreement before a judge, choosing whether long-term payments or a lump sum is preferable in your specific economic case is a question that might be better answered by a financial planner.
- Retirement and pensions: Pension plans and other savings can be marital property, but having them properly evaluated, including net-tax earnings, can influence the settlement proceedings. This is another way a divorce financial consultant can help you.
Finding a Financial Planner in Toronto
Our thriving metropolis offers its denizens many things: art, food, opportunities to meet new friends. But it can also sometimes be overwhelming. Finding the right financial planner for your individual needs can seem a daunting task. That is why Divorce Angels hosts a curated listing of financial planners and consultants in the Greater Toronto Area. We want to help and support you as much as possible through this time of change, and solid financial planning is one aspect of the diverse approach. If you are interested in financial planning, or would like to check out our forums to get further advice and support throughout your process, please visit the Divorce Angels today.