As a family matures, their financial portfolio matures. They buy a house, a cottage, a boat, and invest in corporate bonds and securities, mutual funds, and retirement plans. They plan for their children’s college education and their own golden years. Over time, the assets grow in wealth to facilitate the couple’s dreams.
Divorce usually changes dreams for the future, and if someone is not focusing on the tax implications and adverse effects of dividing the couple’s assets, a great deal of wealth and security can be lost.
In addition to the long-term effects of divorce, several immediate financial concerns must also be addressed. In most instances, one parent has the physical custody of the couple’s children, and needs financial support to care for the children. In other instances, the couple has had joint credit cards. Any charges made to joint credit cards during the divorce process can create a liability on both spouses, and affect a person’s credit reports long after the divorce has concluded. In almost all instances, a family home is involved. Whether the home is rented or owned, the payments must be made, and the financial support to make those payments may need to be ordered by a court prior to the final divorce.
Through a fresh approach to divorce, Fero & Ingersoll has created a process through which our clients preserve their assets. Asset preservation is not a law, nor a legal requirement for divorce; rather, it is a service similar to psychological support for the divorcing family that is offered because Fero & Ingersoll recognizes the need. Families need to secure their nest egg, even during divorce. Fero & Ingersoll protects the client’s financial assets and helps them to make the right decisions to secure their future.
Regardless of the size of your financial portfolio, it represents your financial security, and Fero & Ingersoll will help you protect it for your future.