Protecting your assets can be tough – but it’s even harder during a divorce. In many cases, a financial adviser can provide you with enough professional insight to make the best decisions for your family’s future. Your Chapel Hill divorce lawyer may recommend that you find a qualified financial adviser to help keep your investments safe during your divorce; many people choose to continue to work with a financial adviser long after the divorce process is over.
Why Would Your Chapel Hill Divorce Lawyer Recommend a Financial Adviser?
Your Chapel Hill divorce lawyer has your best interests in mind at all times, including what will happen to you once your divorce is final. Suggesting that you find a financial adviser to help during your divorce is part of your lawyer’s job, especially when you have significant assets to protect.
Even if you consider your assets modest, you can benefit from working with a financial adviser. Skilled financial advisers can help you divide your property, make the right choices when it comes to investments and help you prepare to pay your required taxes. Since divorce blurs the lines when it comes to property and finances, your Chapel Hill divorce lawyer might recommend that you find a financial adviser to help you along the way.
Finding the Right Financial Adviser
Even if your Chapel Hill divorce lawyer hasn’t suggested that you find a financial adviser, you may wish to find one on your own. Ask your attorney if he or she has any professional contacts that may be able to help you. You can also ask friends and family for recommendations; often, the best financial advisers come with excellent reviews from people you know.
Whether you choose to work with a financial adviser based on a trusted recommendation or to find one on your own, you’ll need to know the different types of advisers that exist. Each provides different services, and choosing the right type will save you time (and probably money) later.
- Accountants have extensive knowledge of tax planning and preparing persona financial statements. Many accountants also handle investments and other specialized types of financial planning.
- Financial planners develop financial plans based upon their clients’ short- and long-term goals. They handle things like investments, taxes, estate planning and debt management solutions.
- Investment advisers, like their title implies, provide advice on investments based on their clients’ short- and long-term goals. They’re also referred to as asset managers, investment counselors and portfolio managers.
You’ll need to ask potential financial advisers several questions to make sure you’re comfortable with the services they’ll provide. Find out how long they’ve been practicing, what types of clients they represent and how they’re paid. A good financial adviser won’t have any problem answering your questions, no matter how trivial they seem to you, and will be able to provide answers in a way you can understand.
