Our divorce planning and settlement review services provide an integrated approach to assisting clients and attorneys through settlement planning and settlement negotiations. Clients are not required to engage VFP for both services, but our divorce planning services allow us to have more insight into the potential approaches and potentials outcomes for the settlement process.
Common questions that are addressed in divorce planning and/or settlement review.
- Will I have enough to live on?
- Will I need to return to the workforce?
- Should a greater portion of the assets be distributed to one party to offset the potential disparity of income?
- What are the short- and long-term effects of dividing property?
- What are the potential capital gains taxes that will be due on the marital home?
- What insurance do I need and how do I get it? (Health insurance, life insurance, disability insurance, long term care insurance).
- Which assets should I take?
- Should I keep the house?
A divorce planner takes your financial issues into consideration and projects the long-term effects of a proposed settlement on both spouses.
The divorce process can get to the point very quickly where one or both parties are willing to just take any settlement in order to end the process. This is the time when it is most critical to get outside input on your settlement. The settlement will not just impact you for the current period, but there can be long-term impacts of settlement that you may not see.
Even if you cannot change or sway the settlement, it is critical to understand what you will be required to do in order to meet your budget requirements. To learn more about the types of divorce planning and settlements VFP has performed, see our blog, Divorce Planning & Settlement Examples.
Divorce settlements can be complicated and include numerous financial aspects including alimony, child support, and division of assets. There is no set formula to divide income and assets among parties and each case is negotiated differently. It is a give-and-take between the parties, and each side may have a different view of how things should be resolved.
Since a divorce settlement will only be decided on one time it is crucial to have a full understanding of a potential settlement proposal. At VFP, we understand that each situation is unique and requires a specific analysis. We strive to develop a shared understanding of the financials in your case.
Settlement Review Services Include:
- Meetings to review proposed settlements and answer questions on financial elements of your settlement;
- Analysis in specific financial decision points to provide you with a range of potential solutions/outcomes;
- Provide reports and analysis that help you to understand and evaluate different potential settlement scenarios.
Our goal at VFP is to help you and your attorney move forward in financial settlement by providing a financial sounding board. Where necessary, we can also provide comparable scenario analysis to assist you in your decisions throughout the settlement negotiations.
At VFP, we are experienced in partnering with attorneys to merge the legal and financial issues into settlements that clients can understand. For more information about our divorce services please visit VFP Divorce and Our Firm.