Divorce, and its associated emotional and financial impacts will affect more than 50% of all people who marry. Just as you planned for your marriage, it is critical to develop a financial plan when planning for the end of that marriage.
Geltrude can counsel you on the tax consequences for different financial scenarios, and assist with a lifestyle analyses to help secure your financial future and resolve alimony and child support awards.
You and your spouse worked for many years to acquire what you have together in terms of accumulated wealth and property. Make sure you obtain a fair settlement by engaging a seasoned professional in tax and financial matters.
Divorce Services include:
- Business valuations
- Fraud & Forensic Investigations
- Asset tracing & net worth determinations
- Income/Lifestyle analysis & budgeting
- Assistance in determining alimony and support awards
- Advice on economic and tax issues
- Trial testimony, Arbitration, Mediation, and Collaborative Law
Divorce Financial Analysis and Planning
Financial analyses during the divorce process is essential to ensure a stable economic future for both parties and to prevent future financial problems due to a lack of planning.
- Financial analyses done early in the divorce process can save time and money.
- By gaining a clear understanding of all financial aspects of pending decisions, our clients are able to make educated decisions throughout the proceedings.
- Legal settlements that are reached without the client having a clear understanding of all financial ramifications, can be time consuming, expensive and can be detrimental in the long-term.
- We can project the long-term effects of the divorce settlement.
- We can help you avoid tax traps that can occur when the marital home is sold or when pension assets are distributed.
- We develop a long-term plan that addresses immediate family needs as well as long-term expenses, such as funding higher education and retirement.
- We can assist you in the development of a household budget that will help you avoid financial struggles after the divorce. Expenses such as life insurance, health insurance, and cost of living increases must be taken into consideration when agreeing on a final settlement.
- We can reduce the amount of stress and misunderstanding about the financial matters in a divorce process.
If you and your spouse own a business, we can help determine what your fair share under the law should be.
- What is the value of that business?
- Who will continue to operate the business, or will it be sold?
Forensic accounting is concerned with searching for the truth related to financial transactions, income, and assets.
- Do you know what your true joint income is and the actual cost of your current life style?
- Are personal expenses being paid for by a business?
- Is your spouse hiding money or assets from you?
When you have a clear understanding of your current and future financial situations, you can deal with the divorce process in a logical, rational manner, and protect your financial future.