Handling complicated assets, large bank accounts and financial investments is not for the faint of heart. When this much is on the line, California couples usually turn to professional advisers for help and guidance. But when it comes to a high asset divorce, should couples continue sharing the same advisers, or should they aim for a cleaner financial break?
Making a clean financial break from an ex-spouse might sound easier than it sometimes is. In many cases, one person continues to pay alimony to the ex. If children are involved, someone is usually paying child support. While these are necessary financial payments that can continue to temporarily tie a couple together, sharing a financial adviser does not have to be.
This is not always a realization that people come to naturally. It can be difficult to say goodbye to a financial adviser or accountant that a person has spent years developing a relationship with. Some may not even realize the implications of sharing an adviser with their ex until after the divorce is already finalized. However, making a decision to move to a new financial adviser during divorce is often even better. After all, a financial adviser is there to ensure that a person’s finances are fully optimized, so working with someone who is solely on their side is usually a good idea.
It can be difficult to make significant life changes while already going through a high asset divorce. Depending on the situation, that life change might be able to wait until after everything is finalized. However, when it comes to prioritizing financial stability for post-divorce life in California, seeking a new financial adviser can be helpful.