Divorce is a very emotional time, to many it even feels like a death. Mourning for the future and life you had once pictured. Unfortunately, at this same time you are also having to navigate what for most people will be the largest financial transaction of their life.
Mistakes during divorce can be costly. Misunderstandings of tax consequences, retirement plan nuances, and asset valuations can amount to tens of thousands of lost dollars. It's always hard when you don't know what you don't know. For instance:
Some assets grow fast, some may decline in value quickly, some are taxed at higher rates. There is an exhaustive list of factors that need to be considered before settlement. You don't want to be blindsided by loss of value, tax implications, and even legal liability for decisions you make in "the fog of war". We help determine the short-term and long-term financial impact of a proposed divorce settlement to make sure it works for your goals now as well as down the road. NPP does not give tax advice, but we can point out potential strategies and red flags for your attorney and/or CPA to assess.
Going through a divorce can also require significant homework from you. We want to help ease the burden of financial statement preparation. If you can supply the information, we can help gather and organize data, format and make needed calculations in regards to income, expenses, assets, liabilities, etc.