The only way to ensure the financial settlement request is truly successful is to have a holistic view of your client’s entire financial picture, not just the settlement amount.As a divorce attorney, you have a unique opportunity during the divorce process to set up your client for future financial independence and success.Having the right data and a holistic view of your divorcing client’s financial picture are crucial in achieving an advantageous settlement.
This blog was written exclusively for It’s Over Easy® and addresses the additional challenges of divorcing during the holidays and a pandemic. Although we may not have full data for some time on how COVID-19 has affected divorce rates, there is evidence to suggest the pandemic is indeed putting high strain on more marriages.
Tax issues clients and their advisors should discuss before a divorce is finalized.Taxes may not be the top priority of your clients when you are helping them through a divorce.There are many decisions made in a divorce that can impact your clients’ tax situations for a long time.These decisions can be costly and if you are not aware of the tax implications, then any additional tax costs may not be accounted for in the divorce settlement.
