The Role of the Financial Neutral in the Collaborative Process
Working with a financial neutral throughout the collaborative divorce process can help divorcing couples make the right financial decisions. By: Gina Gallo, CFP®, CDFA™ Working as a Collaborative Team member, the financial neutral’s objective is to provide financial assistance as requested with the goal of assisting the clients in achieving what they perceive as their best possible outcome under the circumstances. In fact, that is one of the questions I ask at a first meeting: “Tell me what would be the ideal financial outcome for you in this divorce?” Based on the answer, the n...
About Financial Professionals in Divorce
Here’s a guide to some of the major financial designations, explaining what they do and how they can help with the financial issues of divorce. According to surveys conducted by Divorce Magazine, money is one of the top reasons for divorce. If you had trouble balancing your household budget before divorce, then financial planning is likely to become even more difficult during and after divorce – unless, of course, your spouse was creating financial problems by spending above the family’s means, gambling, or unsuccessfully playing the stock market, for instance. If money is likely to b...
25 Questions to Ask Before Hiring a Divorce Financial Advisor
If you’ve never hired a divorce financial advisor, you need to ask the right questions to make sure you find the right one for your unique circumstances. Ask your prospective divorce financial advisor as many of the following questions that apply to your unique situation: How much of your practice is dedicated to divorce? You want someone who spends at least half their time working on divorce financial issues – not someone who “dabbles” in the area. How many divorce cases have your worked on? And what was the outcome? How long have you been practicing – in the divorce aren...