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Accountant, financial analyst may help during divorce

| Nov 19, 2019 | Divorce

Going through the marital dissolution process is not easy from a financial standpoint. Having a large number of assets or high-value assets only compounds this. As a result, people in New Jersey who have complex assets might want to include their accountants and financial analysts early on in their divorce processes.

Accountants can play a major role in helping divorcing individuals to sort out their previous tax situations along with their current situations. Likewise, accountants can give them updates on the holdings in their portfolios. Professionals like accountants and financial advisors may also help with valuing various other assets that must be divided during the divorce process.

Financial analysts can also play a critical role in the divorce process by analyzing divorcing individuals’ debts and assets. In addition, they can analyze matters related to these individuals’ compensation. All of this information can be helpful for discussing the divorcing parties’ future financial goals and how they can best achieve them post divorce.

Using the updated financial information that a divorcing individual obtains, a family law attorney can guide the individual in making expedient decisions concerning issues like property distribution. For example, in some situations, a divorcing spouse might want to give up the family home in exchange for retirement assets. He or she may also find it beneficial to seek spousal maintenance from the other party. The divorce attorney will focus on helping the divorcing spouse to achieve a settlement that aligns with his or her best interests and wishes financially in New Jersey.