During your divorce, you may find it necessary to find an accountant to help with your financial affairs. In fact, your Durham divorce lawyer may recommend that you find one as soon as you visit his or her office.
Remember: your Durham divorce lawyer has worked with many clients in situations similar to yours, and has very likely seen the benefits that working with an accountant can provide.
How to Find a Qualified Accountant in Durham
Start by asking your Durham divorce lawyer if he or she knows a local professional with a solid reputation. If you’re not comfortable doing that, ask friends and family. Generally, the best accountants come with rave reviews from people you know.
You can also search your telephone directory or the Internet to find a Durham accountant.
How can an accountant help you during a Durham divorce?
As your Durham divorce lawyer already knows, an accountant can help you manage your assets and make informed choices about your financial future. An accountant can also help you prepare and file your taxes, create new budgets and help you determine where your money can be reallocated to reflect your financial goals.
Since most couples, with the help of their lawyers, need to divide property during divorce, an accountant can help you plan which parts of your estate are affordable to keep and which parts you’ll need to give to your spouse. Your accountant can also help you decide whether you’ll need to sell property based on your financial needs, figure out how much alimony (if any) you’ll need to ask for, and determine how much money you’ll have after the divorce is final.
Accountant vs. Financial Planner
Some accountants double as financial planners. However, accountants who aren’t certified financial planners, or CFPs, may not have the qualifications to suggest investment opportunities, manage your assets or perform other tasks that CFPs can.
Ask your Durham divorce lawyer whether you should look for a CFP or an accountant – or both – during your divorce. You can rely on your attorney’s experience to help you determine which professionals you’ll need to work with throughout the process.
Your finances and your Durham divorce lawyer
Before and during your divorce, you’ll find it necessary to discuss your financial situation with your lawyer. He or she needs to know where you stand financially because those numbers may affect alimony, child support payments and whether you can afford to keep some or all of your assets.
Keep your Durham divorce lawyer updated whenever your financial situation changes, such as when you get a new job, your spouse gives you money or takes money from you, or when you’re considering a major purchase or sale.
