The emotional stress of a divorce can be overwhelming. And it’s often exacerbated by the financial issues, which can be divisive and complicated for affluent families. Late-in-life divorce can be especially difficult, particularly for the spouse who is not the primary earner or financial decision maker.
Making the mistake of waiting until during or after a divorce to make critical financial decisions can also have lasting negative impacts—consequences you may be able to avoid by having a strategy in place that balances all of your post-divorce financial needs.
That’s where we come in. When you’re navigating divorce, your Mercer Advisors team can help you evaluate settlement proposals, assess marital assets, reset financial goals, and develop a strategic financial divorce plan that’s tailored to you.
As a Certified Divorce Financial Analyst at Mercer Advisors, I bring specialized expertise in divorce to an integrated team of planning, investment management, estate, and tax specialists that takes a holistic view of your financial life.
The Downsides of “Gray” Divorce
Divorce rates for people 50 and older have doubled since 1990. For the average 50+ year old, the immediate hit on standard of living from divorce is significant, and the longer-term impact on wealth is more likely than not to persist.
Source: The Economic Consequences of Gray Divorce for Women and Men, I-Fen Lin, PhD and Susan L Brown, PhD. The Journals of Gerontology, Gerontological Society of America September 2020.
Creating Your Personal Financial Divorce Strategy—and Following Through
Often, the financial impacts of divorce don’t become clear until it’s too late. To get ahead of these impacts, you need more than a good lawyer. When you’re negotiating the end of a marriage you also need a smart and practical financial strategy.
Ours involves a specific approach and process, which is supported by Certified Divorce Financial Analysts (CDFA®s) and backed by a team of financial planners, investment managers, tax accountants, insurance specialist and estate strategists.
-
Due diligence
Your advisor consults with you to get a detailed understanding of your needs, goals, and priorities—things that may significantly change or be in flux as you move through divorce.
Strategy development
Your Mercer Advisors team creates and presents a plan that addresses multiple scenarios and recommends financial solutions for your specific needs and situation before, during, and after your divorce.
Implementation and follow through
Your wealth advisor functions as your “chief of staff” for your external resources, making sure that the financial strategy for your divorce is put to work efficiently and effectively.
Putting Your Financial Divorce Strategy into Action
At Mercer Advisors, your wealth advisor is the hub for all of the financial aspects of your divorce—before, during, and after.
The CDFA® and Certified Divorce Financial Analyst marks are the property of the Institute for Divorce Financial Analysts, which reserve sole rights to their use, and are used by permission.
