Financial planning at 5 stages of life
Nobody plans to get divorced, but if you do, your financial situation can change dramatically.
"It's traumatic enough to go through a divorce. But afterward, most people need help putting themselves back together, mentally and financially," Levine says. "If you wait until years after your divorce to look at your investments, estate planning and asset protection, sometimes it's too late."
Post-divorce planning may involve re-establishing credit, especially if most of the marital assets were in your spouse's name. A financial planner can also help you rethink your budget and retirement plans, and change the beneficiary of your accounts so that your savings won't revert to your ex-spouse.
"There's really a lot of busywork that needs to be done," Levine says.