Divorce is not an easy topic. For most people it is awful to think about. Nobody gets married thinking they will ever get a divorce. There are nearly one million divorces in the USA each year. The results are sad for both husband and wife. Especially if there are children. Divorce can be devastating. In these sensitive times, let Numerico’s advisers help you do what is best for everyone.
Divorce – Assets That Need To Be Distributed
– All homes or property, including rental homes.
– Personal property including vehicles, electronics, jewelry, furniture, artwork, and family heirlooms.
– Financial assets like checking and savings accounts, IRA’s, investment accounts, retirement accountants, life insurance policies with cash values and education accounts. These may not have cash value like real estate property and personal property but they still need to be divided.
Business Assets
If you have a business together it can be extremely difficult to separate assets. Numerico’s expert staff of accountants has experience with these issues. They will help you decide what the best course of action is when you are divorcing and own a business together. When you own a business together, your accountant needs to be one of your first calls. Your accountant should remain objective and not take sides.
Divorce can tear businesses apart. This puts your future at risk. It also scares your team of employees. When there is an issue, even a personal one, it often shows even when you think you are hiding it. Keep your future bright and seek out guidance in your divorce to keep it as smooth as possible.
Most Common Challenges
– Child custody.
– Not considering tax impact.
– No knowledge of retirement accounts.
– Liquidation of assets.
– Debt and credit issues.
Divorce is very sensitive. The team at Numerico are more than money organizers. They are here to serve their clients. They are prepared to help you through every step of your journey. This includes reaching financial goals despite bumps. The team at Numerico has taken part in many collaborative divorces. Even if you are ready to be divorced and looking toward the future, divorce is hard. It is the death of something that you once believed in. The advisers at Numerico will stand with you in this season.
