Divorce Resources

Divorce Resources:

Your Divorce and Finances

Divorce and separation cause imbalance and uncertainty in your life.  The financial ramifications of divorce can seem devastating as assets are broken apart and jointly held property is divided.  Your lawyer can help you work out the details of your legal settlement.  Meanwhile, Jim Broom can help identify financial strategies in concert with your short and long term goals.

NorthStar Wealth Management will examine the financial issues of your divorce and provide you and your attorney with data to support your case.

PRE-SETTLEMENT
NorthStar Wealth Management will help you:

  • Determine how much money you'll need to live on.
  • Evaluate the stocks, bonds and mutual funds that may need to be divided.
  • Assist you and your attorney in developing budgets that demonstrate an appropriate level of spousal and/or child support.
  • Help determine the short-term and long-term financial impact of a divorce settlement.
  • Offer objective insight into the pros and cons of different settlement proposals from an investment perspective.
  • Create personalized reports and graphs that illustrate the financial status, cash flow and graphic net worth of both parties.

                     
POST-SETTLEMENT
NorthStar Wealth Management can help you:

  • Review the potential long-term financial effects of the settlement.
  • Manage the financial settlement, answer questions, including how to prioritize your goals to help meet your long-term needs.
  • Deal with specific challenges such as
    • Loss of health, life, or disability insurance coverage
    • Loss of retirement-plan benefits


YOU'LL BENEFIT BY:

  • Knowing a Financial Advisor has examined your settlement options.
  • Hearing an objective viewpoint in an emotional situation.
  • Getting experienced advice about your specific financial needs.


James Broom is a Senior Financial Advisor who holds the Certified Divorce Financial Analyst® (CDFA™) designation and he is a member of the Institute for Divorce Financial Analysts. He is also a non-attorney member of the Minnesota State Bar Association. His background includes nearly twenty years of experience in investments and investment planning.

The use of the CDFA™ designation does not permit Wells Fargo Advisors Financial Network or its Financial Advisors to provide legal advice, nor is it meant to imply that the firm or its associates are acting as experts in this field.

NorthStar Wealth Management, Wells Fargo Clearing Services, LLC and its affiliates are not legal or tax advisors. However, its Financial Advisors will be glad to work with you, your accountant, tax advisor and or lawyer to help you meet your financial goals.