Cindy Allen & Associates PLLC

Phone: 405-310-8673

map map google linkedin

Qualified financial advice crucial during a high-asset divorce

Many people in Oklahoma know someone who suffered unpleasant financial consequences after a divorce. Unexpected tax bills, debt payments or inadequate child support all could result from a divorce. For help with the long-term financial decisions necessary during a divorce, it is recommended that each party obtain an independent financial adviser.

One spouse hiding assets or debts from the other spouse presents a common example of a divorce-related problem. Consider the situation of one woman who won possession of the family home. Later, she discovered that her ex-husband had secretly obtained a home equity loan prior to the divorce. He did not repay it, and, because she was the owner of the property, the debt obligation fell on to her shoulders. As a result, this unexpected cost strained her resources.

A financial adviser might help a person avoid such negative consequences by investigating the finances of the other spouse during divorce negotiations and potentially discover unknown assets and debts. A person who primarily stayed at home during a marriage or who took only a limited role in the marital finances might find financial advice particularly valuable during a divorce. For example, tax bills that could result from the distribution of split assets might be brought to the attention of a person before signing off on a divorce settlement.

Although a financial adviser could empower a person to make informed decisions about money, the assistance of an attorney might still be advisable. An attorney could explain how state laws could impact property division, spousal support and other matters.

No Comments

Leave a comment
Comment Information