Divorces are almost always very difficult and stressful. The divorce preparation for proper settlement will always involve financial scrutiny and analysis in order to fairly divide the estate according to tax law. The more complicated the estate, the more you will need the professional help of a Certified Public Accountant. There may be many tax ramifications that need to be taken into account for division of assets and for preservation of wealth going forward. Mitchell & Watters, CPAs can help you through this difficult time by providing you solid financial divorce advice and help regarding your divorce settlement.

Our team can be a neutral financial facilitator, helping you gather, organize and understand the financial situation at the time of divorce and more importantly looking forward when the two have separated. The professionally gathered financial data helps to determine the immediate household budget as well as the longer term individual budgets. We bring value by:

1) Conducting financial analysis early in the divorce process can save time.
The average length of a U.S. divorce process is one year. In the beginning stages of the process, both parties spend a great deal of time trying to get clear understanding of the financial aspects and terminology of the separation. Explaining all the financial aspects of the pending decisions can help empower the client to make educated decisions throughout the process.

2) Helping save time and money during the divorce process.
Get a clear view of your financial future. Only then can you approach a legal settlement that fully addresses your financial needs and capabilities. A legal settlement that floats back and forth between attorneys, without the client having a clear understanding of all financial ramifications, can be detrimental, time consuming, and expensive. Clients get a clearer picture by getting the knowledge and understanding of the often complicated financial decisions.

3) Helping clients to avoid long term financial pitfalls related to divorce agreements.
Working with a client and their attorney, a forecast of the long term effects of the proposed divorce settlement can be mapped out. This includes details of all tax liabilities and benefits. Developing a long term forecast is far better than a short term snapshot. Financial decisions must be made that not only take care of immediate client needs, but retirement needs as well. 

4) Assisting clients with developing detailed household budgets to help avoid post divorce financial struggles.
Help clients think through what the divorce will really cost in the long run and develop a realistic monthly budget during the financial analysis process. Expenses such as life insurance, health insurance and cost of living increases must be taken into consideration when agreeing on a final financial settlement.

5) Reducing the amount of apprehension and misunderstanding about the divorce process.
Misinformation and misconceptions about the divorce process can be detrimental. Many have false expectations that they will be able to secure a divorce settlement allowing them to continue with their accustomed style of living. Financial divorce analysis helps to ensure a good, stable economic future and prevent long term regret with financial decisions made during the divorce process.