How Do I Know If My Retirement Savings Are on Track?
Planning for retirement involves a lot more guessing than some people may be comfortable with. While you can make careful plans and calculate...
For better or worse, divorce forces you to make a fresh start. Getting divorced requires you to revisit plans that you might have thought were set for life. Sometimes divorce requires you to make relatively minor adjustments to your budget, estate plans and insurance plans. In other cases, divorce creates such a radical shift that you need to start from scratch and build new plans that reflect your new life. Like the legal divorce process itself, the process of adjusting your plans for the future is highly personal and can be emotionally difficult. Working with advisors who are sensitive to the challenges of divorce is key.
Divorce and Your Financial Plans
We don’t have to tell you that divorce can affect your financial plans in many ways. Even couples who maintained separate finances may take a financial hit in divorce. Anticipating some of the real costs and effects of the divorce can help you and your advisors strategize to help you hold onto as much wealth as possible.
Some of the factors that will be part of post-divorce financial planning include:
Divorce and Your Insurance Plans
Getting divorced could mean making changes to every single insurance policy you currently have, and potentially even exploring new types of insurance or new policies. Now’s an opportunity to make sure you’re well protected in the next phase of your life.
Insurance policies that may need consideration include:
Sachetta’s wealth management advisors understand the upheaval that divorce can create, not only emotionally but financially and logistically too. We’ve walked many divorcing clients through the process of rebuilding their financial, estate and insurance plans for their new reality. Let’s tackle that planning now so you can focus on enjoying the next phase of your life, instead of being stressed about myriad of changes. We’re happy to answer any questions you may have—Contact us today!
Before joining Sachetta, Stephen Ahern co-founded and served as President of Wealth Management Advisors, LLC. For over thirty-five years, Stephen has provided individual financial, investment, estate and tax planning and small business consulting to a diverse base of clients. His clients have included key top-level executives, high-net-worth individuals, business owners, venture capitalists, and entrepreneurs. As an established personal financial planner, Stephen has delivered numerous presentations on financial, investment, retirement and tax planning to corporations and professional groups. He has also written articles on investment, education and estate planning.
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