Ordway Law Group, LLC
Ordway Law Group, LLC
Divorce & Family Law

Why 61% of divorced women wish they hired financial advisors

| Aug 20, 2020 | Family Law, Firm News |

The majority of women who divorce today say that obtaining financial stability is very important to them. However, most women fail to make financial advisors part of their divorce teams, even though doing so could help them achieve those financial goals.

Per Forbes, 95% of modern women navigating divorce neglect to hire financial advisors to assist them. Research shows, though, that 61% of now-divorced women say they regret neglecting to do so. Why is it that so many women regret never having hired a financial advisor, and how might one help in a divorce case?

They help women maintain their lifestyles

Divorcing women who do hire financial advisors often find that they help them determine what it takes to maintain the lifestyle they came to enjoy during the marriage. Women who were not involved in budgeting or family finances during the marriage may find this assistance particularly beneficial. It may help them decide to fight for alimony, for example, and it may help them determine how much alimony to seek. It may, too, help give divorcing women arguments to use when pursuing alimony.

They help them consider all assets and opportunities

A financial advisor may also help women navigating a divorce make sure they consider all valuable assets during asset division. Certain valuable items often fly under the radar in a divorce, among them college savings accounts, family heirlooms and the like. An advisor helps women make sure they maximize their takeaway by considering elements and assets they might otherwise have let fall to the wayside.

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