The fear of sudden wealth, or the fear of not getting a fair share, often drives rash decisions during a divorce.  It is common to experience a wide range of emotions. Anger, worry, to excitement of starting a life of independence.

They say the woman’s standard of living plummets by almost 30% while a man’s improves.

Patricia had little guidance from her divorce attorney during the process. Patricia seemed to be more focused on the constant arguments that eventually wore her out and wanting to just walk away from everything. An average divorce can take upwards of a year which can leave you fearing how your lifestyle will change for a considerable amount of time. Patricia had small children at the time and wanted to make sure she kept the house they lived in. She fought hard for it and the tradeoff was giving up a larger share of liquid assets. Without considering her ability to earn income, or being given enough advice to decide, the long-term cost to maintain the house and expenses was unsustainable. Patricia had to sell the house, pay off the outstanding loans, and relocate to a very modest apartment while redirecting her focus to her career and raising her children. The expense for health care alone was enough to put a tremendous burden on her budget and this was never discussed during the divorce.

How ProCore Advisors can help

If you were not involved in the finances during marriage and are suddenly responsible for your own budgets, assets and investments can be overwhelming.  Sometimes, the fear of not getting a fair share turns into just walking away from assets so you can move on with the divorce, creating an unnecessary long-term loss that you don’t consider in the height of stress and emotion.

• We help to manage the divorce and provide financial planning, investment advice and education.
• We review possible long-term issues from a financial view point to discuss with the client.
• We assist with QDROs