During a marital break up, making ill-informed financial decisions is easy. After all, dealing with both the financial aspect and the emotional aspect of divorce can be overwhelming and confusing. For this reason, eliciting the assistance of a financial planner may be expedient when navigating divorce in Montana.
Financial planning is particularly essential for those who have been told without warning that their breadwinning spouses want to get divorced from them. Naturally, their biggest concern may be how to maintain their current standards of living. This is particularly true for those who have not been in the workforce for years and thus must figure out how to support themselves in today's business landscape.
Using a financial planner is especially important for those who own businesses. They might worry about having to give up the assets they have worked so hard to build, even if their marital split-ups are not their fault. For example, perhaps they are business partners with their soon-to-be-exes and have to sell the business to pay the other party for his or her share.
An applied understanding of one's rights during divorce in Montana can help with making wise decisions regarding the splitting of assets, ranging from business ventures to homes and retirement funds. In many situations, spouses are able to figure out property division on their own, without further court intrusion, through processes such as mediation or negotiation. However, if they cannot see eye to eye in this area, a judge will have to decide for them the most equitable manner of dividing their assets. Unfortunately, the outcome may not necessarily be what one or both spouses would have anticipated or desired.
Source: yourtango.com, "Why You Should Get A Divorce Financial Planner So Your Divorce Does Not Leave You Broke", Berni Stevens, Dec. 5, 2017