For many Pennsylvania residents, navigating the waters of divorce can feel like an overwhelming prospect. That is especially true for families that have complex property division needs. For those who are preparing for a high asset divorce, it may be beneficial to add the services of a financial advisor to the divorce team.
One way that a financial advisor can assist is by combing through family finances in search of discrepancies. Missing, conflicting or otherwise suspicious records can indicate that one spouse has acted to intentionally hide assets from the other. A financial advisor can determine whether this may be the case, and provide all of the necessary documentation to allow one spouse to approach the court to request that the other party be compelled to provide full financial disclosure.
Another area where a financial advisor can be helpful is the case of complex assets. Very often, wealthy couples have a diverse blend of assets, including real estate, business holdings, inherited wealth and investments. Hiring a professional for the specific purpose of evaluating complex assets can help to ensure that nothing is overlooked.
For those in Pennsylvania who are preparing for a high asset divorce, a financial advisor may be a great way to round out their divorce team. Very often, spouses find that the investment needed to hire this type of professional will pay off many times over. If nothing else, there is a value to the peace of mind that comes from knowing that a second set of eyes has reviewed all financial matters pertaining to the divorce.
Source: professionaladviser.com, “The role of advisers in financial disclosure“, Marilyn Bell, Aug. 29, 2017