Since one of the most prominent issues in any divorce is the financial aspect, the employment of a certified divorce planner frequently comes into play. This, of course, is dependent upon the nature and scope of a particular couple’s assets.

A few things with which a that divorce planner will assist you:

- Which assets are feasible for you to keep.
- Help you understand your tax consequences.
- Whether to take a lump sum or deferred distribution in regards to retirement funds.
- Investment advice for education funding for the child(ren).
- Recommending changes in your will and estate planning.
- Point out cash resources for immediate income.
- Set realistic and obtainable financial goals.

Resources: See CDFA.

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1. Fee Arangements with Financial Planners
   Some fiscal advisors will charge a flat fee for consultation with respect to and/or development of an actual complete plan relating to all financial issues. Others work on commission, meaning they will earn their actual income through the sale of specific investments. It is important to remember that this type of professional, because of the nature of his or her work, might intentionally or otherwise have outside bias with respect to their advice. And lastly, some will be compensated through a combination of both a fee and a commission. Given the fact that financial planning can be very detail oriented and potentially critical to a person’s future financial stability, these types of professionals and their services are being retained more and more often.
   Contributed on 6/19/2007 by: DivorceDex.com Staff

   Category: Financial Planning  (Applicable in All States)

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