Going through the divorce process in Missouri is a financial challenge. Splitting assets, including real estate, can seem even more intimidating in the current economic environment, where inflation remains high and markets are declining. For this reason, it makes sense to enlist the help of both a financial analyst and an experienced family law attorney when considering a divorce.
Benefits of a financial analyst
A savvy financial analyst can help clients to view their financial lives after divorce realistically and strategically. For instance, if finances are not sufficient to maintain the marital home, other options should be considered. Perhaps selling the house and splitting the proceeds with the other party may be the best option.
When negotiating property distribution, it is generally best to have a diverse mixture of assets, if possible. For instance, if the individual wants to keep the house, some cash assets will also be important. Appreciating assets, like bonds and stocks, can also prove beneficial long-term to add into the mix. While a certain amount of risk may be necessary, it’s also important to focus on achieving a comfortable level of security when determining which assets to walk away with. This is something that experienced financial analysts can help address.
Benefits of an attorney
Hiring an attorney is also a wise move early in the divorce process. In addition to further providing advice regarding how best to divide assets, an experienced family law attorney in Missouri can also offer guidance regarding matters such as spousal support and child support, if applicable. The lawyer will focus on protecting a client’s best interests. Sometimes that can be achieved through a negotiated settlement, but in others, litigation may be required.