When a marriage is ending and one or both parties decide to divorce the impact can be devastating. Divorce is not only emotionally but financially disruptive specially for women.
Women going through a divorce often feel their spouse has all the power (emotionally and financially), they feel alone and vulnerable. Meanwhile, they are required to make critical financial decisions that will impact their life in the short and long term with very little knowledge of the consequences of these decisions and without a clear understanding of their current financial circumstances.
If you do not understand your finances, how could you be expected to decide if an offer or divorce settlement proposal is good or not?
This is why adding a Divorce Financial Planner to your team is critical.
As a Certified Financial Divorce Analyst® I have the specialized skills, experience and training in divorce-related financial, tax and property division issues. My role is to ensure that you and your attorney have a clear understanding of the short- and long-term financial impact of each potential settlement.
When considering a settlement proposal, I can project out 5, 10 or more years to show you and you’re your attorney what your true financial situation will be if you sign the agreement as presented. If those projections are not ideal to your circumstances and future aspirations, I can help you identify the best path to achieve the desire outcome as you negotiate a new settlement.
Some of the mistakes I can help you avoid include:
· Dividing retirement assets and non-retirement assets thinking that they have the same equal dollar value.
· Not considering the implication of deferred taxes when dividing different assets.
· Failing to properly value a pension plan.
· Negotiating to keep the marital home when you cannot afford it.
· Not understanding how the division of the debt will impact your financial future.
· Forgetting the importance of cash flow and your new budget.
Working with a divorce attorney is of vital importance to protect your legal rights while going through a divorce. However, working with a Divorce Financial Planner is imperative. When financial divorce experts work alongside divorce attorneys, we help bring clarity to the situation, especially on the risks and advantages of each potential solution so you are better prepared to make the right financial decisions for your future.
I can help you understand:
· The difference between each assets category.
· How your budget will affect spousal and child support.
· The ins and outs of retirement plans and pensions.
· Whether you can afford to keep the house and your different options.
· Tax repercussions and potential solutions.
I work exclusively with women going through a divorce or considering separation.
My role is vital in making sure a divorce doesn't end in a financial tragedy and to safeguard the financial future of my clients and their families.
I cannot make promises or guarantees about a financial outcome however, I vow to provide you with the tools, knowledge and understanding of your financial circumstances so you can move from uncertainty to security and from fear to confidence as you raise from this confusing and dark cloud and become all you can be.
María Iglesias Martínez, CDFA®, CDS™
Financial Divorce Specialist
Ever After Wealth™
Disclaimer-- To avoid any conflict of interest, I do not manage assets nor provide investment advice. I do not sell financial products. I work strictly as a consultant.