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Women in Transition

A Service to Our People in Transition Group

A person’s ability to properly plan for their financial future during a divorce often takes a backseat to the emotional ramifications of this stressful period. A spouse or partner may have handled the finances in the household and/or provided financial stability. As a result, the other spouse or partner tends to focus on their immediate financial needs without taking into consideration their long-term forecast. 

Marcum Financial Services specializes in divorce financial planning and works closely with clients and their attorneys to provide an understanding of how the financial decisions made today will impact their future. We help clients avoid common financial pitfalls and mistakes that can occur by identifying the best financial settlement for divorcing couples. 

Our Divorce Financial Analysts proactively work with attorneys during the litigation process informing them of the fiscal implications that usually arise from the various types of divorce settlements. Based on certain assumptions, we prepare reports, charts and analyses that are specifically tailored to each unique situation and include its financial impacts and tax consequences. This allows attorneys to negotiate the most advantageous settlements for their clients. In addition, we carefully review all financial data such as retirement plans, investments, tax returns and records, business records, and benefit programs.

Specific services include:

  • Assist with Qualified Domestic Relations Orders
  • Review separation/divorce agreement
  • Assess and divide assets and debts
  • Value and divide pension, defined contribution/benefit plans, retirement plans (including projected
    rates of inflation)
  • Identify and separate marital property
  • Identify valuation needs
  • Assess need for alimony and child support; propose solutions and tax implications
  • Prepare marital balance sheet
  • Prepare net worth forecast
  • Organize all accounts and necessary beneficiary changes
  • Identify insurance concerns and needs
  • Identify living expenses
  • Create new budget based on single income
  • Develop retirement plan based on new objectives and goals
  • Determine cost basis and capital gains on marital home

Divorce Financial Planning Service Model

  • Consultation: 
    Initial meeting to discuss current and long-term financial needs, goals, objectives.
  • Discover:
    Gather and record all financial information. Identify assets, liabilities, income and expenses combined with potential tax issues as well as insurance, retirement and other miscellaneous financial issues.
  • Analyze:
    Provide personalized reports containing all relevant information including net-worth statement, long-term cash flow needs, alternative property division projections, after-tax effect and consequences of all proposed settlements.
  • Review: 
    Meet with client and attorney to interpret reports and answer questions.
  • Recommend: 
    Advise and inform to help make prudent decisions.
  • Report: 
    Consult with appropriate advisors and prepare reports to document the agreement.
  • Follow-Up:
    Monitor transfer of assets to insure the agreement is expedited correctly.

Without having a clear understanding of the financial decisions made during the divorce process, the ramifications can be detrimental. With proper planning from a Divorce Financial Analyst, spouses or partners will have a clearer view of their financial future and reach an equitable divorce settlement that fully addresses their financial needs.

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ABOUT RAYMOND JAMES LOCATIONS
Raymond James financial advisors may only conduct business with residents of the states and/or jurisdictions for which they are properly registered. Therefore, a response to a request for information may be delayed. Please note that not all of the investments and services mentioned are available in every state. Investors outside of the United States are subject to securities and tax regulations within their applicable jurisdictions that are not addressed on this site. Contact your local Raymond James office for information and availability.

Marcum Financial Services, An Independent Firm

Securities offered through Raymond James Financial Services, Inc. Member FINRA / SIPC

Investment advisory services at the New Haven, CT office are offered through Raymond James Financial Services Advisors, Inc.

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