Whether you are considering a divorce or your spouse just announced that they want to separate, finances are likely the last thing on your mind... and rightfully so. As a divorce mediator, I have helped hundreds of couples through the divorce process. I find their most prominent topics of concern typically are (in no particular order):
the emotional toll of their relationship coming to an end;
the fairness of their divorce process;
their children, if they have any;
their home; and in many cases,
the anger they feel towards their partner.
While all of these may be important parts of the separation process, what goes overlooked is their finances, which without a doubt will affect their lives long after the divorce is final and the anger has dissipated.
What Does a Divorce Financial Coach Do?
As a divorce financial coach and CDFA® (Certified Divorce Financial Analyst), I help my clients understand their finances before, during, and after their divorce process. Particularly for the less “financially knowledgeable” spouse, a divorce can make you feel powerless. I’m here to help my clients take the fear out of finances and focus on the future of their dreams.
My services are tailored to my client’s needs, based on where they are in the divorce process and their level of financial knowledge. As a financial coach I help you:
Understand the divorce process and what to expect, addressing your biggest fears and questions
Understand your financial options based on your personal finances and create a plan for negotiations with your spouse
Prepare your financial disclosures and understand what you should request from your spouse during the disclosure process
Plan a budget in accordance with your dreams for the future
Work with your divorce team to prioritize your needs and goals during the divorce
Create successful strategies for cost-sharing child expenses with your co-parent, which decreases conflict and allows for productive conversations
Now that all sounds great, but do I really need a financial coach during my divorce?
If you find yourself answering "no" to any of the following questions, the answer is
Yes, a financial coach is right for you!
Have you prepared for your finances to change post-divorce, including creating a budget for yourself (and your family)?
Do you know what you want out of your divorce financially? Is your plan realistic? Have you planned for alternatives, including the best and worst scenarios?
Do you know what information you need to prepare to complete your financial disclosures?
Do you know what information to request from your spouse to ensure you have all the information you need to take the next best step towards your future?
Do you know how your financial decisions during your divorce not only affect you in the short term, but also how they may affect your long term goals?
You don’t have to go through this challenging time alone.
A financial coach is here to help you
avoid costly mistakes, guide you past financial pitfalls, and build your financial confidence.
What’s the Next Step?
At Ms. Confinance (confidence + finance), I provide a financial coaching service for women affected by divorce. You may be considering whether divorce is right for you, in the middle of a divorce, or have finished your divorce process in the last year. You can schedule a complimentary consultation today, so that I can better understand your needs and personalize my services to help you grow your financial confidence. Have additional questions about myself or my services? Check out my website, or follow @ms.confinance for educational tips on all things divorce and finance.