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HCR Wealth Advisors: Dealing with Divorce

There comes a time for many individuals when they feel they have found that special someone to spend their life with. Fast-forward several years later and the couple ends up one of the many married couples who end up getting a divorce. HCR Wealth Advisors is a firm that understands that there are many factors regarding the divorce process that may cause people to pay more than they should in an already stressful time.

Many couples undergoing divorce believe the first thing to do is to hire a lawyer specializing in family law. It may be wiser to find a financial advisor who has training in matters such as divorce. Financial problems are a leading cause of divorce in the United States. Family Law attorneys may not be able to guide couples going through a divorce on financial questions they may need answering. It is becoming more common for clients undergoing divorce to hire financial advisors as the first plan of action in a divorce due to financial complications.

A misconception in the divorce process is that the couples should go through mediation because it is more inclusive of both parties, as well as cheaper. This may not always work out because when a couple is at the stage where they are trying to get a divorce, it is almost impossible for them to agree on anything and they can no longer communicate properly. Mediation is not a viable option if this criterion can’t be met with both parties. Mediation is often extremely time consuming and ultimately fails in many cases. HCR Wealth Advisors can advise on the positives and negatives involved in mediation and determine if it is a good choice for both parties.

HCR Wealth Advisors has focused on helping its clients through significant life changes, such as going through a divorce. They take the time to ensure that their clients understand the divorce procedure. They can help their clients when it comes to dividing the assets when an agreement is reached, and they build a financial map for their clients to follow when the divorce is finalized. HCR Wealth Advisors can help to form financial strategies for couples going through a divorce and can try to assist in making a difficult transition as smooth as possible.

 

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