In matters of divorce, men and women often approach things in different ways. Of course, making sweeping generalizations about gender misses a great deal of the complexity that human beings possess. That said, there are certain areas within divorce in which women tend to suffer, in Pennsylvania and across the nation. Achieving an equitable division of marital assets is one of those areas.
In order to reach a fair and favorable divorce settlement, it is necessary to delve into the family’s financial standing. This can be difficult for many women, especially those who have allowed their husband to take the reins when it comes to family finances. In such cases, the first step is to gather the information required to structure a negotiation strategy.
For some, the early stages of this process will make it clear that additional help is required. That assistance is available through working with a financial advisor, who can review all of the pertinent financial information before giving customized advice on how to move forward. A financial advisor who specializes in divorce can run the numbers on various property division options and help his or her client choose the best combination of options.
Even more importantly, an advisor can work with clients on structuring a post-divorce budget. Mapping out income, expenses and savings can make the first few months following a divorce far easier to manage, in both a practical and emotional sense. Once that process is complete, the advisor can serve as a valuable resource at any point when financial questions or concerns arise.
For Pennsylvania women who feel intimidated by the financial aspects of divorce, it is important to know that there is help available when needed. Increasing one’s understanding of personal finance is a worthy endeavor at any point in an individual’s life. During divorce and the equitable division of marital assets, the advice of a professional can make a great deal of difference in the end result.
Source: The Huffington Post, “Ladies: Let’s Stop Making These 5 Financial Mistakes!“, Oct. 1, 2015