Divorce Financial Advice for Men

DIVORCE

Andrew Hatherley, CDFA®

Mar 28, 2018

There are a variety of services that cater to women during divorce. The Second Saturday Divorce Workshop is a notable example. This is largely because of the typical scenario where the man has handled the finances during the marriage. But this is not always the case and men can struggle to find the resources they need. Financial advice for men is just as important as it is for women in this time in their lives.

Even if you have handled your family finances during marriage, you still need to be sure you understand the complexities of your financial and legal options. In my experience, giving financial advice for men could ultimately save them money.

What you have, you built as a team and you each deserve your fair share, even if you asked your wife for years to get a job and she refused.

What you have, you built as a team and you each deserve your fair share, even if you asked your wife for years to get a job and she refused.

Thinking That The Assets Are All Yours Because She Didn’t Work

If you have been married for a long time and your wife was a housewife with children during the marriage, she worked just as hard as you did. What you have, you built as a team and you each deserve your fair share, even if you asked your wife for years to get a job and she refused.

Refusing To Give Up Retirement Assets

Often, men get emotionally attached to pensions and retirement plans and will negotiate a settlement that lets them keep those assets. Consider, however, that both pensions and retirement assets are taxable income when you receive them. If you are earning a lot more money than your spouse for most of your life, chances are you will always be in a higher tax bracket than her. Take advantage of this fact and give her the settlement in retirement assets adjusted for her tax rate instead of yours. This strategy has saved couples that I work with tens of thousands of dollars in taxes and they get to share in the benefit.

“Men are often motivated by saving money and will attempt a do-it-yourself divorce where they draw up their own paperwork. Bad idea. ”

Don’t Be A Bully

Fear sometimes shows up in the negotiation process as anger. Many men make the mistake of thinking that being angry will somehow help the situation. Not a good idea. You’re BOTH scared. Make sure that you work a CDFA, Certified Divorce Financial Analyst that will incorporate future financial planning into your settlement negotiations so that everyone’s concerns can be addressed fairly.

Failing To Ask For Help

Realize that you don’t know what you don’t know. Men are often motivated by saving money and will attempt a do-it-yourself divorce where they draw up their own paperwork. Bad idea. There are so many intricacies, both financial and legal, to the divorce process that you will save thousands of dollars by making sure that you cover all the bases.

At Wiser Divorce Solutions, we want to help EVERYONE in the divorce process to have a less stressful divorce.

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