When your Ohio marriage fails, you may question the state of your finances and whether you might be able to maintain your lifestyle once your divorce becomes final. Most Ohio residents who divorce their partners find that their financial situations change quite a bit in the aftermath. However, you may find that hiring a divorce financial advisor to help you work through things helps you plan for the financial insecurities that may arise amid divorce.
U.S. News and World Reports notes that it may serve you well to make a financial advisor part of your divorce team if any of the following is true.
You have no clear retirement plan
If you were banking on your spouse’s retirement earnings to see you through this time in your life, you may need to make some new plans after a divorce. A divorce financial advisor may be able to help make retirement funds a priority and plan accordingly.
You think your spouse is hiding things
A divorce financial advisor may also be able to help you investigate if you suspect your ex is trying to conceal assets or income streams from you.
You want to anticipate tax implications
Filing taxes as a single person is quite different than filing taxes together as a married couple. A financial advisor may be able to help you plan ahead for the inevitable tax implications of a divorce.
These are just a few of the many possible ways a financial advisor may be able to help you plan for your future and set yourself up for success when your marriage ends.
