Planning services
Divorce often means making significant financial decisions on your own. We provide financial planning for people going through this transition.
Most of our divorce work happens after the settlement. In some situations, planning can also take place before it is final.
The focus of the planning work depends on where someone is in the process.
Accounts are being divided, the house decision may still be open, and paperwork may be ongoing. Planning at this stage can include help to get organized, move assets correctly, and set up a budget for your new household.
Life has settled, but your money may still be arranged around the marriage. Planning at this stage can include an investment strategy and retirement plan built around individual goals.
Depending on the situation, Brian can review a proposed settlement alongside the client’s attorney, including which assets to target or protect.
Where to begin
Whether you’re just starting the process or already have a settlement, these are the first financial steps to work through.
The first steps
A realistic budget built on your new income, support payments, and expenses, plus an emergency reserve sized for your situation.
Moving your share of 401(k), 403(b), IRA, and pension assets the right way, including transfers made under a QDRO.
Whether keeping the home fits your long-term plan once you account for the mortgage, upkeep, and what you’d give up in other assets.
Portfolios set up around your goals, timeline, and comfort with risk, instead of decisions made for the marriage. Held at Schwab or Fidelity.
Updating beneficiaries, account titles, and insurance.
If your marriage lasted at least 10 years, you may be able to claim benefits based on your former spouse’s work record. Planning can include comparing options and timing.
A review of retirement timing and income based on current assets and obligations.
Filing status and withdrawal choices change after divorce. Our tax-analysis software reviews your return so we can plan around those changes, and we coordinate with your CPA.
Brian can work alongside a client’s attorney to show what a proposed settlement could mean for budget, investments, and retirement.
This can include comparing the after-tax value of different accounts and assets, since assets with similar balances can differ once taxes, costs, or restrictions are counted.
While we will work alongside a client’s attorney, we are not a substitute for one. We don’t provide legal advice. We’ll look at the tax side of a proposed settlement as part of a plan and coordinate with a client’s CPA.
Two assets with the same balance can leave you with very different amounts to actually spend. A few common examples:
A traditional 401(k) or IRA is taxed when you withdraw it, so $300,000 there may be worth noticeably less to you than $300,000 in a Roth IRA or savings account.
Stock or funds that have grown a lot may carry capital gains taxes when sold. Two accounts with the same value can have very different tax bills.
Home equity can look like the biggest asset, but it doesn’t produce income, costs money to maintain, and selling it comes with expenses.
Illustrative examples only. The actual tax impact depends on your situation; we’ll coordinate the details with your CPA.