On behalf of Stange Law Firm, PC posted in High Asset Divorce on Thursday, March 1, 2018.
The process of divorce can be a challenging time when two individuals determine how the shared property will be divided. After the dust clears, one or both partners could be left with a sum of funds that will need to fully or partially finance their lifestyles for years to come. By choosing to invest one’s portion of the marital assets, a Missouri resident may be able to get more mileage from the share of the divorce settlement that he or she receives.
Both parties will likely need to adjust to financial changes post-divorce. Essentially, two households will need to be maintained from the same pool of income that previously supported only one. For the less financially sophisticated partner, the transition can be a bit more challenging.
By choosing to invest the funds, a person increases the likelihood of having the money meet needs for a longer period of time. Some individuals will need to begin by learning about investing, along with potentially working with an advisor to figure out exactly how the funds will be allocated, and the level of risk that is tolerable. A novice investor may face some challenges when he or she gets started, but with guidance, the challenges can be overcome.
After receiving one’s share of the marital assets, a person in Missouri may choose to consult with his or her attorney for recommendations for a qualified investment advisor. Since a family law attorney will likely have experience with property division and other financial aspects of divorce, the lawyer may have the experience to provide a suggestion. A family law attorney will also have the knowledge and skills to help settle any legal aspects of the financial separation of divorce.
Source: Forbes, “Divorce: Investing Your Financial Settlement“, Rob Clarfeld, Feb. 21, 2018