Understanding your financial situation before, during, and after divorce is one of the most challenging and stressful parts of the separation process. In many households one spouse handles the budget, including paying the expenses and managing savings. Some couples choose for a spouse to stay home and care for children, others choose to put mortgages and car loans in one spouses name. All of these situations can result in a lack of transparency when it comes to your financial health. If you are planning to divorce it is important that you speak to a financial professional who can help you assess your finances and plan the healthiest path forward so that you can begin your next chapter with a sound financial plan.
Stampone & Associates offers a variety of packages for individuals who are planning to or are in the midst of the divorce process. With each of the package options listed below, we will dive into your financial history to reveal a clear picture of your finances. This can then be used by your attorney to determine a proper allocation of assets and expenses during negotiations. If you are interested in discussing any of our package options, please contact us today.
Cash Flow Analysis
When you are preparing for a divorce it’s important to understand where you are spending your money so that you have a full picture of your expenses when you meet with your attorney. Stampone & Associates will help you develop an Income & Expense statement.
Marital Property Analysis
Stampone & Associates will help you identify your assets and liabilities. You will walk away with a clear picture of your joint (marital property) and separate assets and liabilities so that you and your attorney can determine the best marital separation agreement for your situation.
The time required to develop a balance sheet can vary greatly by person due to the unique number of assets and debts. As a result, Stampone & Associates charges an hourly fee to develop balance sheets.
Credit Consultation & Planning
In many marriages one spouse handles the finances, including setting up who is on debt including credit cards, car loans and mortgages. This can result in a lack of credit or poor credit unknowingly. When you’re preparing for a divorce it’s important to understand your credit situation. Stampone & Associates will perform a credit analysis and help you create a plan to develop or improve your credit.
The time required to develop a Credit Consultation and Plan varies depending on your unique situation.
Future Financial Planning
Do you have a sufficient income stream to provide you with the lifestyle that you can live with? How much in savings or retirement will you need to get you through the next 5,10 or 15 years? Future Financial Planning will help you establish what you need to do to prepare your finances for a life post-divorce. Whether it be getting a job or taking steps to qualify for a mortgage or car loan, Stampone & Associates will evaluate your financial situation and help create a plan for financial stability post-divorce.
The time required to develop a Future Financial Plan varies depending on your own unique situation.
A Caring Team Approach
When you are going through a divorce you need a team of experienced professionals to help you make the best decisions emotionally, financially, and legally. Stampone & Associates has cultivated a large professional network of trusted attorneys, therapists, mortgage agents, insurance agents, investment advisors, realtors, and divorce coaches who specialize in helping individuals going through divorce. We will provide a list of contacts to the necessary professionals if you need assistance that is outside of our expertise.