There are many different steps involved in a Tennessee divorce, and many of them involve financial matters. A marital breakdown has the capacity to impact everything from your retirement savings to your financial stability and overall quality of life, but there are various things you might do to help protect and safeguard your financial future.
Because so much of divorce is financial in nature, Kiplinger notes that many people working their way through divorces choose to consult certain financial professionals along the way. The following are some of the common types of financial professionals who may play a role in your divorce.
Certified public accountants
Many people underestimate just how much a divorce affects their taxes. A CPA should be able to help you figure out how your split is going to impact your tax obligations and help you plan accordingly for these changes. Some CPAs also double as forensic accountants, which many people rely on when they believe their exes might be trying to hide assets from them.
Certified divorce financial analysts
A CDFA may have special training in both helping parties negotiate fair settlements and helping them figure out how to file their taxes after a split. These professionals may also be able to assist parties with long-term financial planning.
Business interests are a common source of contention in a divorce. The job of the business valuator is to figure out the true value of any business interests one or both parties own so that divorcing parties may divide the business’ value appropriately.
This is just a brief summary of some of the many financial professionals people enlist to help them work through the ends of their marriages.