What is the role of a financial planner in a collaborative divorce?

In a collaborative divorce in Washington, a financial planner plays an important role in helping both parties reach an agreement on how to split their assets. In the collaborative process, each spouse retains their own attorney who works cooperatively to determine an equitable settlement. The financial planner helps to assess the financial situation of both spouses and provide input on potential asset division options. Financial planners typically use financial models to project future expenses, income, and the potential effects of asset division. This information can help the attorneys and the spouses negotiate a settlement that is beneficial to both parties. The financial planner can also help to identify tax savings opportunities that may arise during asset division. The financial planner will also assist the spouses in understanding the tax implications of the asset division. By understanding the potential tax consequences, both parties can make informed decisions to ensure they are not disadvantaged in the process. The financial planner can also help the spouses to understand their current and future financial obligations, such as alimony and child support. This helps ensure that both parties are aware of their financial obligations and can set up an equitable plan for meeting them. In short, a financial planner plays an important role in the collaborative divorce process in Washington by providing valuable financial analysis and advice to the attorneys and spouses. This enables the spouses to make informed decisions regarding asset division and to ensure that both parties are treated fairly in the process.

What is the role of a financial planner in a collaborative divorce?

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