Aside from being a huge life change personally and emotionally, being divorced or widowed can seem overwhelming from a planning and financial standpoint.
- The global pandemic has added an extra layer of stress and complexity in navigating a divorce or estate proceedings around court closings and delays, and against the backdrop of a volatile economy.
- Women who find themselves newly and unexpectedly single, whether as a result of divorce or death or other separation, should take concrete steps to position themselves for success.
- Fortunately, working with a trusted team of experts can make the process much less daunting.
While divorce or loss of a spouse is challenging for everyone involved, it’s often a tougher burden for women who may not have been intimately involved in the family’s finances, actively participating in a family business, or even privy to the various professionals who helped manage and protect the family’s wealth.
When couples face divorce, there are myriad issues and concerns that need to be navigated. When a wealthy couple divorces, those issues become imminently more complex. In the divorce setting, even women who do serve as matriarchs of their families—successfully heading the household and stewarding the family’s wealth—face significant challenges when it comes to creating an equitable distribution of assets.
Women who find themselves newly and unexpectedly single, whether as a result of divorce or death or other separation, should take concrete steps to position themselves for success.
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