Divorce Financial Planning

Divorce Financial Planning

 

 

Hi there…

So you’re interested in divorce financial planning…?

It is probably safe to say you wouldn’t have clicked on the page if you weren’t a little curious about what “type” of planning we provide…

Now if you are like business owners then divorce planning is a new concept for you…

In fact, it is probably fair to say friends and family have encouraged you to simply hire an attorney and ride the roller coster that will become the divorce process…

And that’s okay… 

We do not replace the divorce attorney… we compliment them…

Divorce financial planning, also known as divorce planning, is not a new concept…

It is an under-used tool that many do not understand the value of…

See we understand what it means to be the under-estimated and what it means to be the secret waiting in the shadows to pounce…

At Horizon Ridge Wealth Management we feel the divorce planning is vital to every entrepreneur’s future financial planning… 

This is why we gladly accept the frustration of number crunching, negotiating, and acting as an expert witness…

Think of us as the CFO to your personal, or business, planning needs…

Now that doesn’t mean you aren’t an integral component in the entire process…

Rather, we know how busy you are, how emotional divorce can be, and how building the right divorce team can be immensely valuable to your bottom line…

This is where one of our strengths begins to shine…

We have refined our process so much that managing financial forecasting to evaluate different settlement options becomes quite easy for us…

Though it helps that we like to geek out over the numbers…

And for those wondering, “No that doesn’t mean we have the personality of IRS agents”…

We strive to be quite personable and yet bury our heads in the details so we can produce outstanding outcomes through the planning process…

 

Horizon Ridge Wealth Management Pre-Divorce Checklist

 

While that is all well and good…

You are probably wondering what makes us so different as compared to all the other planning firms…?

What would convince a prospective client that we can do a better job than those who have blazed this very trail before us…

Well many of those answers lie in the details of our process…

See much of the planning we perform for our clients cannot be summarized in a balance sheet or income statement…

Much of the planning we do is not captured in an asset allocation or investment report…

That is simply because… 

We DO NOT believe divorce planning is retirement planning…

We DO NOT believe divorce planning is investment planning…

We DO believe divorce planning includes, but is not limited to:

  1. Planning for divorce or separation requires forecasting different settlement options.
  2. Projecting how spousal support vs child support can affect your cash flow.
  3. Assessing the impact of dividing current assets and guaranteed income on your retirement, or other planning goals.
  4. Evaluating your options to buyout your spouse from their marital business interest.
  5. Forecasting your insurance needs to protect your standard of living, replace lost alimony payments, guard against a premature disability or death, and more.
  6. Helping evaluate, develop, and manage a budget after divorce.
  7. Determining the appropriate investment risk of your portfolio for your short and long-term goals, after divorce.

If providing divorce advice were easy then you wouldn’t need to hire an attorney, or a divorce planner…

You could merely file papers with the court, sit in front of a mediator, and hash things out with your soon-to-be ex on your own…

Oh wait…you can do all of those things…

But that assumes your divorce is going to be easy…

 

 

Then where do we fit into the process…?

Much of the planning work we perform for clients is so detailed that we integrate, at a minimum, seven core areas of divorce planning into a very detailed financial analysis…

But that is only the start…

To ensure we truly provide this highest calibre of advice, we conduct extensive interviews with our clients…

Wait…Interviews…?

Yes…

In order to best understand what is most important in our client’s life we conduct a series of interviews that, depending of the nature of the planning engagement, can span multiple meetings…

Throughout these interviews we use our pre-divorce checklist to learn the most pertinent details about the highest priority concerns before we begin constructing our financial models…

Then we create models that are designed to assess, improve, and manage external threats that may prevent our client from pursuing their intended settlement outcome…

At this stage of the process we begin to present some of our findings to our client and their divorce team…

After additional feedback from the divorce team we continue to refine our findings until we create a solid, move forward, financial strategy that your attorney can use to build a sound legal argument around…

This is usually where many of our competitors would hand over a document, of varying thickness, to outline the “final” results…

Then they would review, with the client, the results along with three, maybe four, points the client should consider modifying…

Once the plan is delivered the client and their divorce attorney go on to negotiate the settlement options…

Unfortunately, as many of us know, but may be reluctant to acknowledge, the best laid plans are rarely always the final outcome…

This means the plans used going into the negotiation may not be what comes out… 

Which means you may not fully understand the financial ramifications of your settlement options until after the documents are signed…

This is where we continue to differentiate ourselves…

At Horizon Ridge Wealth Management once we have a move forward divorce plan in place we create different hypothetical scenarios to help you and your attorney manage negotiation process…

This is where roll up our sleeves and work in the trenches with your attorney…

We implement the second phase of our process…

We treat our process much like Coke treats their secret formula…

Under lock and key in a vault, probably somewhere where the Area 51 files are stored…

The point is… 

We take the divorce financial planning process very seriously…

This is why we spend so much time with our clients, their attorney, and sometimes other members of the divorce team…

See we view ourselves as a critical member of the divorce team…

While it is probably fair to say your attorney could help you with some elements of the financial forecasting…

We like to think of ourselves as being in the business of scenario management…

We manage the various settlement scenarios so your attorney can focus on the legal arguments…

They went to school to master law…

We went to school to master everything money related… 

 

 

Now that might sound like a lot…

You might even be thinking that you don’t need that level of sophistication or complexity…

But we would challenge you to think about all of those successful projects you managed throughout your career…

How many of them were solo acts and how many were achieved with the help of others…?

Were you deeply invested in every step of the process or did you have a central point of communication that allowed you to delegate what needed to be done to key stakeholders in the project…?

Would you have received the same high praise and accolades for the output your team accomplished on your behalf..,?

How many more sleepless nights would there have been knowing you were responsible for the daily minutia…?

While we have faith in you and your abilities to build a roadmap forward, there always comes a point when your time is better spent on other tasks or on higher priority items like your family or health…

So you are probably thinking, “Fine, I concede to wanting help… but there are plenty of other planning firms out there”…

We agree… and yet so many don’t understand what it means to be a divorce planner…

Don’t believe us….?

Consider that many financial advisors say they work with divorcees…

But do they… really?

Will they help with financial forecasting complexities, pension valuations, tax strategy, and modeling different settlement outcomes…

From our experience, this is not usually the case…

In fact, many advisors are prohibited by their employers from providing divorce planning services…

Two quick tests to evaluate if an advisor really offers divorce planning:

  1. How many of their clients did they actually help through the divorce process versus how many came to them after they were already divorced?
  2. Can the advisor act as an expert witness in divorce proceedings? 

The bottom line, if you are going to hire a financial professional to help with your divorce, make sure you understand their role and how they intend to help you…

 

 

At this point your inner monologue is all over the place and it sounds something like this…

If my financial advisor is not necessarily qualified and my attorney, as smart as they are, is not a financial expert AND cannot act as an expert witness, then I’ll do the financial forecasting by myself…”

We call this the “I Can Do Anything Mentality”…

It is fair to say that you have done a lot on your own to this point…

And so far you have turned out smashingly!

But, as life continues to progress the moving pieces will continue to become more complicated…

The obstacles that lay ahead could cause significant damage to you, your business, or worse….

Your financial security…

Can you build, manage, and tweak your divorce plan on your own – without emotion…?

Maybe…

But how much time will that process consume…?

Would that time better be spent on driving sales or lowering overhead costs…?

To manage our costs we have designed a fairly streamlined process…

When a client engages our company we invest approximately 20 hours per divorce planning engagement interviewing, researching, constructing, tweaking, and executing our analysis…

And that doesn’t include acting as an expert witness, when needed…

I wouldn’t want to guess how much time you would need to spend to perform the same research, tasks, and ongoing scenario management…

This is another reason prospective clients apply to work with our team…

Where some DIY individuals may become overwhelmed on their own or choose not to invest the time to build a plan…

Our divorce financial planning checklist and process helps everyone stay on track through the divorce process and focuses on cost management, scenario management, and future financial planning…

 

 

This is where Horizon Ridge Wealth Management continues to shine…

See we have been down this road a number of times…

We work with thought leaders, titans of industry, community activists and leaders, and executives that are deeply focused on driving optimal results for their company…

We operate with the highest level of transparency, always putting our client’s interests above our own, and use research that comes from a plethora of independent sources…

In other words, we make it a priority to provide the highest level of service, research, advice, and feedback that is readily available to us…

Furthermore, at Horizon Ridge Wealth Management we feel our Wealth Managers, along with our certified divorce financial planner, need to have the highest level of education and experience when working with you…

This is why many of our Wealth Managers hold multiple designations, like…

The CERTIFIED FINANCIAL PLANNER™ certification…

The Certified Divorce Financial Analyst® certification…

The Chartered Special Needs Consultant™ designation…

The Certified Exit Planner Advisor® designation…

While these certifications and designations do not fully encompass all of our knowledge, they provide a peek into the scope of experience we provide…

At this point we usually hear clients asking…

“How much does it cost to hire Horizon Ridge Wealth Management…?”

Well this is one the best parts to our approach!!!

Since your strategy is tailored to you

Since your plan is built to maximize the outcome for your financial future…

Since your goals are the focal point to our entire planning process…

We can’t give it away for free…

 

 

Nor would you want us to…

Have you ever heard the adage… “You get what you pay for..?”

Well cookie cutter outputs do not require much time to construct and tend to be handed out to everyone…

Your situation isn’t necessarily like everyone else’s….right?

But we also do not charge ungodly amounts either!

There are a number of companies that charge a few thousand dollars every time they create or update your financial plan…

Depending on the calibre of the planner, these plans can range from very well-constructed plans to down right embarrassments…

Happily, we can say we are completely transparent in everything we do!

In fact, we have been told by some competitors we are too transparent…

That is perfectly fine by us…

So what do we charge…?

Well to fully understand all the different types of planning we offer at a 30,000 foot view, by category, we encourage you to visit “Our Pricing” page…

On the page you will find we our divorce planning operates on an hourly engagement…

This allows you to budget, and plan for, what you will pay…

The engagement is designed to last up to six months, where we then re-evaluate the need for any additional support after six months…

So now the only question you need to ask is…

“Do I want to start the interview process and add Horizon Ridge Wealth Management to my divorce team..?”

It goes without saying that we are always looking for dream clients to work with…

This is why we created an application process…

We know we are not a fit for everyone, and not everyone is a fit for us…

We also only work with a limited number of clients…

This interview process helps our company understand if we can help you…

And helps you understand if you really need or want our help…

We want to work with people who really want our help and value the expertise and experience of highly educated financial professionals to manage their financial affairs…

So now you get to decide…

What is holding you back…?

Apply NOW and discover if we are a match…

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