The Importance of using A Neutral Financial Professional

Most people who are going through a divorce want to maximize financial security and minimize depletion of assets. Some spouses turn to their own separate financial advisors who may, or may not, have experience and training relating to divorce. Others rely on their attorneys alone, and never seek the advice and assistance of a financial specialist. If the professional (attorney or financial planner) is only working to protect their own client, the client may then become involved in an adversarial divorce with each side competing against the other for assets and money.

There is another option – to engage the services of a Neutral Financial Professional. A Neutral Financial Professional is usually a Certified Public Accountant with training and experience in Collaborative Divorce work (hired to work with both parties and their attorneys and related professionals i.e., the collaborative team). This work includes gathering all of the couple’s financial information and organizing it into two documents. One that lists all the assets and liabilities, and one that shows cash flows (income minus expenses). The goal is to educate the collaborative team about their finances, tax issues, etc. and have understandable documents that the clients can use to allocate their financial resources and make informed decisions. Finally, the Neutral Financial Professional’s goal is to work with both parties, their attorneys and related professionals to achieve an amicable and durable agreement that is informed and in the clients’ best interest.

A Neutral Financial Professional’s training and experience are devoted to all things financial. This is their field of expertise. Take advantage of it.

By Russell G. Bregman, CPA, CVA

2017-11-29T13:48:28+00:00October 3rd, 2016|