Professionals you might need when getting divorced

Divorce Financial Analysts

A new breed of adviser is the "certified divorce financial analyst," formerly called a "certified divorce planner." Much like financial planners, these specialists help couples wade via the fiscal intricacies of splitting up. In fact, numerous of them have a financial title like certified public accountant (CPA) or certified financial planner (CFP) in addition to their divorce financial analyst designation.

Divorce financial analysts generally charge between $100 and $200 per hour. They're most efficient working with couples on particular financial issues that are particularly complicated, like dividing a stock portfolio or valuing and dividing a business. While they're open to all clients, it's usually higherasset couples (with estates of a minimum of $250,000) who have been married more than ten years - so that alimony is really a main problem - who can make the very best use of their services.

Stockbrokers and Money Managers

Stockbrokers have a tendency to focus on individual stock, bond, mutual fund, and insurance transactions. Money managers take a look at the general performance of an investment portfolio and evaluate how it meets short-term and long-term needs for growth, income, and safety.

In gathering information on your financial condition, you may need to contact your stockbroker for copies of brokerage accounts or other objects. Again, as with other professionals who function on commission, recognize that your stockbroker might attempt to sell you products when you call for financial information.

Stockbrokers obtain commissions on sales charges, that are paid by the client - generally 1% to 5% of the quantity of money invested in stocks, bonds, mutual funds, or annuities. Money managers, on the other hand, obtain a fee for the service they offer, which is designing and managing investment portfolios. They charge a percentage of the value of the money they manage - generally 1% to 1.5% on accounts of $200,000 to $1,000,000 and 1% to 3% on smaller accounts.

Accountants

Accountants can offer many different services ranging from auditing a business to assessing employee benefits packages. Accountants charge by the hour or by the project. A certified public accountant (CPA) can function as a tax consultant - but don't assume that all CPAs can offer personal tax services.

If you have income tax concerns, you might wish to start by consulting an enrolled agent (EA), a tax specialist qualified to practice before the IRS. If you think your spouse is hiding assets or covering up financial facts, you may wish to hire a forensic accountant. These specialists can trace marital property, evaluate financial reports, and value businesses.

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