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The importance of finding a new financial adviser after a divorce

| Jan 18, 2019 | divorce

When two people get married in Florida, one of them will usually become financially dependent on the other, placing their financial future in the hands of their significant other. However, when the same couple gets divorced, the dependent spouse has to face the fact that they are now responsible for themselves. Additionally, if both spouses want a clean break, then the dependent spouse should find a new financial adviser along with a new financial team, especially if the team both of them relied on during the marriage was found by the providing spouse.

Assuming that the dependent spouse chooses to find their own financial team, they might want to hire a financial adviser, an accountant and an estate attorney. Each member of that team will have a role to play during the divorce as well as after. For instance, the financial adviser will have to paint a picture for their client of how life will look after the divorce; once the divorce goes through, their job will be to help their client save and invest for the future.

Fortunately, it is easy to find a new financial team. An excellent resource is the current divorce attorney helping with the divorce proceedings; odds are that they are able to recommend more than one candidate for each job. What matters more is for the dependent spouse to know what to look for when picking the right person for the right job: professional reputation and personality. It is important to hire someone with the proper credentials and who has the prerequisite experience to handle what’s to come. It is equally imperative that the dependent spouse makes sure they can work well with whomever they plan to hire.

Once a dependent spouse hires the financial team, they will all be led by the divorce attorney during the divorce proceedings. However, once the divorce is finalized, it becomes the financial adviser’s job to lead the rest of the team.