Fights over money has traditionally been considered one of the leading causes of divorce in the United States. A study by the American Psychological Association confirms that nearly 75% of Americans experience stress over finances some of the time, and about 25% feel extreme and persistent financial stress, CNBC reports. Add this financial insecurity to an already stressed marriage and you have a recipe for disaster.

When couples experiencing financial distress decide to call it quits, their issues about money do not disappear. We have found that involving financial advisors in the divorce process can help transition couples to more stable, independent lives that allow them to grow in new directions without as much financial worry. This practice tends to produce better outcomes for all parties involved in the divorce.

Impartial financial advisors will facilitate many aspects of the divorce that otherwise turn adversarial. Employing a third-party expert to work with both sides helps control client emotions, set reasonable expectations, and provide a complete picture of how finances will factor into the divorce proceedings. The financial professional can also show the divorcing couple the long-term impact of financial decisions being made now, and, in the best-case scenario, suggest options for the best outcomes, including a clear path to retirement.

Some benefits and best practices of working with financial advisors during a divorce include:

• Financial education and development of better financial habits.
• Tracking expenses/income, creating budgets and getting a clear picture of their financial reality.
• Setting attainable, measurable and reasonable financial goals.
• Putting some retirement, healthcare and other advanced planning into play.
• Setting clear lines of communication and financial ground rules for the process.

The best way to work through financial issues during a divorce involves complex questions and hidden variables. Having a skilled and experienced divorce attorney on your side can greatly affect how both you and your former spouse work through the difficulty. Call the Central Jersey law offices of Kingston Law Group at 609-683-7400, or contact us online, so we may offer you a near-term reduced fee initial consultation — and get you started on your case.  We will listen to your facts, explain the law, and guide you on the best pathway to economic and marital justice.  Call now.  You will be glad you did.