Divorce Shakes Financial Confidence

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Persons going through a divorce report feeling not confident about their post-divorce financial future. An informal poll on the website http://www.DollarsOfDivorce.com reveals that 89% of all respondents lack confidence going forward.

You had better understand what you have ….in order to get an equitable division of property

Persons going through a divorce report feeling not confident about their post-divorce financial future. An informal poll on the website http://www.DollarsOfDivorce.com reveals that 89% of all respondents lack confidence going forward.

It is not surprising to get such feedback. The prospect of continuing through life with prospectively one-half of what a person feels they have in this world is extremely upsetting. Divorce literally puts everything on the table for division in some equal or equitable manner.

Divorce is such an extremely emotional experience that it sometimes seems harsh to be talking about the money. However, when all else is ended, that is what it may come down to. The financial services specialty of divorce finance is currently seeing explosive growth as a profession. In light of the fact that the vast majority of divorce attorneys have no formal financial training, this is a much needed service.

Rosemary Frank, divorce financial expert shared this, “With the demise of the traditional pension, personal finance has gotten a lot more complicated for middle America, particularly during divorce. You had better understand what you have, and all the hidden tax consequences, in order to get an equitable division of property.”

The poll results were more extreme than Frank, the website owner, ever expected. Considering the fact that one of the parties in a marriage is usually more in control of the finances than the other, she expected the results to reflect as much. The poll is not scientific, but does limit responses to one per computer to improve accuracy. It has been ongoing for about three years and will continue to be posted.

Another factor contributing to the overall lack of confidence regarding post-divorce finances is the aging of the divorcing population. Dubbed “gray-haired divorce,” more older couples are calling it quits with less time left to recover from financial missteps during the settlement process. With fewer working years remaining, or perhaps already in retirement, the finances of the divorce settlement need to be more finely crafted.

Rosemary Frank is a financial services professional with a specialty in the finances of divorce. As a leader in this specialty, she has earned the designations of Certified Divorce Financial Analyst (CDFA) as well as Certified Financial Divorce Practitioner (CFDP) and Certified Financial Divorce Specialist (CFDS). She has the distinction of having been the first divorce financial professional in the Nation to earn all three certifications in this specialty. Additionally, she is also qualified to provide services as a Collaborative Divorce Financial Neutral. Rosemary writes and speaks frequently on topics related to divorce finance and has authored and presents a Continuing Legal Education (CLE) course for attorneys on the topic. She is a member of numerous professional organizations and contributes regularly, on an international level, to the development of professional standards and practice protocols. She maintains her divorce financial practice in Brentwood, TN.

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Rosemary Frank

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