Individual Services

Maybe you feel that you do not need a full service divorce financial analysis. In that case, I can provide you with only what you or your attorney think you need to feel more comfortable with the financial implications of select aspects of your case. Some examples of individual services include:

  • Second opinion on division of assets and hidden taxes
  • Verify tax implications of retirement accounts
  • Construct a post-divorce budget
  • Identify the tax implications of a proposed Parenting Plan
  • Review a proposed Marital Disolution Agreement (MDA) for financial concerns
  • Determine income for child support purposes
  • Complete a marital lifestyle analysis
  • Estimate appropriate earnings forecasts for investment accounts
  • Explain investment account statements
  • Explain tax returns
  • Indentify indictions of possible hidden assets
  • Explain potential tax issues relative to real estate
  • Explain the differences between stock options, stock appreciations rights, restricted stock, executive savings, deferred income, and other executive compensation and related tax implications
  • Measure the impact of inflation upon future living expenses
  • Review insurance needs
  • Complete buyout calculation and/or property settlement notes
  • Illustrate the effective after tax values of a proposed division of property
  • Trace comingling and/or transmutation of separate assets
  • Illustrate a need for alimony
  • Illustrate the ability or inabilty to pay alimony
  • Analyze and illlustrate an equitable division of debt
  • Explain the meaning of all payroll deductions and/or all the different boxes and numbers on a W-2
  • Analyze income from a small closely-held business
  • Trace frequent movement of funds among accounts
  • Identify possible hidden taxes in investment accounts
  • Indicate issues relative to desirability of specific assets and investment holdings
  • Analyze investments and indicate equitable division of specific holdings within each account
  • Analyze brokerage accounts for indications of margin loans, option risks, unrealized gains and related taxes, and other issues of concern
  • Identify any tax recapture issues related to the marital home, rental real estate, business assets, equipment, etc.
  • Explain Social Security issues for divorced persons
  • Measure the tradeoff between retirement and non-retirement assets
  • How to avoid penalties if retirement plan withdrawals become necessary
  • How to pay off debt during and after the divorce process
  • Credit issues during and after divorce
  • Insurance issues during and after divorce
  • Identify indications of possible diversion of marital assets
  • How to avoid tax code violations and penalties due to the timing of alimony reductions
  • Explain the tax implications of assigning and allocating dependency deductions
  • Prepare a statement of net worth

You can see that this list is lengthy and varied. Please call, or have your attorney call, to discuss exactly what you might need to move ahead with your divorce and resolve whatever you find troubling or uncertain.

 

 

© 2015 Rosemary Frank Financial, LLC  Educational purposes only. No financial, legal or tax advice provided.

Blog

Choosing an Attorney

I am often asked for attorney referrals by potential clients embarking on the divorce process. My usual response is that I am better able to make referrals after meeting with you, understanding something about your situation, what you prefer in the way an attorney will represent you, and getting to know you is a limited way. Even after all that, I will provide at least three names of attorneys for you to interview, assess and make your own best decision. An attorney is not a commodity. This is...

Preparing for Divorce

You have decided this divorce needs to happen. Now what do you do? Prepare yourself. The following are some steps to take before you pull the trigger and set things in motion. Take care of deferred needs like dental work, new eye glasses, replace the tires, fix the roof, etc. Money is going to get tight, real soon, so better to know these things are taken care of. On the other hand, you will need to save some cash for the expenses of the divorce process:  hiring professionals like a financial...

Your Financial Advisor's Role in Your Divorce

What assistance can you expect from your current financial planner or advisor during your divorce? The short answer is "None." Your divorce presents a clear ethical dilemma and/or conflict of interest for your current financial professional. They must simply "sit it out," wait for the divorce to be finalized, then resume services, if you wish them to do so.  Whether they realize this, or acknowledge as much, is up to them. However, this message is to help you make more informed decisions regarding...