Background
Serena and her husband were married for over 20 years. Unfortunately, they decided to divorce in 2023, and she was understandably devastated by this turn of events. The many big decisions began to mount and she started to feel overwhelmed by the associated financial uncertainty. We helped answer her questions like “What is my husband’s medical practice worth?”, “What am I entitled to?”, “Will I be able to keep my expensive house?”, and “Will I be okay financially and how will I make my resources last?”.
Challenges
- Needed a new estate plan to reflect her post-divorce status
- Assets tied up in her and her ex-husband’s names
- No financial plan
- Difficult to value assets
Benefits
- Built a comprehensive financial plan
- Helped establish a budget for her family
- Established an estate plan for her post-divorce
- Worked as an advocate for her to receive her fair share of assests
How We Helped
We were able to help Serena pre-divorce in several different ways. First, we took her through our Roadmap to Divorce, educating her on the complexities of the divorce process and how to best move forward. We assisted her by developing a detailed budget for her and her family. We also developed a game plan by finding her the right divorce attorney and coordinating every step. Next, we created a comprehensive financial plan and explored alternative settlement scenarios. We also assisted in the creation of a post-divorce estate plan for her.
Financial Plan
Serena now feels empowered about her future as she is knowledgable about her finances and financial plan.
Estate Planning
She feels confident knowing she has a set estate plan in place that protects her assets and children.
Tax Planning
Serena knows the tax situation is optimized as Centerline coordinates with her CPA and prepares a tax plan every year.
Asset Division
Serena feels at peace with the divorce settlement because we helped her navigate complex issues. Having the medical practice valued, understanding “hidden” taxes in certain assets, and negotiating debt repayments were all opaque areas where she needed guidance.
Contact us to see how we can help you!
Email us at info@centerlinewealth.com or give us a call at (502)-242-1561 to learn more.
*Names have been changed to ensure privacy.
