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Be willing to seek professional financial help during divorce

A Colorado divorce can be a complicated matter, and very few people are trained to know the ins and outs of the legal and financial side of divorce. It would be prudent to call a plumber to repair a broken water main or seek the advice of a doctor to address chest pain. In the same way, many spouses need to call in a financial expert who focuses on divorce to assist with a smooth transition between going from married to single.

In some cases, a spouse can use the services of an accountant. An accountant can look over the family's finances and determine the tax ramifications of various property division outcomes. For some couples, a forensic accountant can be helpful. A forensic accountant is trained to comb through financial documents to determine if a spouse is hiding assets.

Another type of financial professional that can be instrumental to a successful divorce is a financial advisor or planner. This is a great way to gain additional knowledge on financial topics such as budgeting, debt relief and more. An advisor can help guide spouses toward the best possible property division outcomes and can also help create a financial road map for the years to follow a Colorado divorce.  

The best way to frame the concept of divorce is with a team concept in mind. This is a relatively short period of time in one's life, but the repercussions can last for many years. A divorce attorney is able to guide the overall process and provide legal advice, but there are areas within divorce that can benefit from other assistance. Making solid financial decisions during this time is imperative, and hiring professionals to assist in that process is a wise move.

Source: The Huffington Post, "8 Tips to Keep From Being Taken Advantage of Financially in Divorce", Karen Covy, Jan. 29, 2016

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