Facing Divorce with a Financial Plan and Advisor at Her Side

When we first met our client, she was at a crisis point in her life. She and her husband had owned and run a local business together for many years. They had children and grandchildren, a strong community and church presence, and a solid local business. Unfortunately, the wife suspected her marriage may be in danger.

Gaining clarity about her financial prospects in every scenario
Following her accountant’s advice, she met with a senior advisor in the BerryDunn Wealth Management team to gain clarity regarding her financial prospects in the event of a divorce. The advisor, an attorney as well as a financial advisor, first helped her understand the divorce process and the possible division of assets.

Together they explored a variety of potential scenarios, looking at financial projections that helped her gain comfort that she would be financially secure whether or not she divorced and regardless of the potential division of assets. Though still emotionally impacted by a potential divorce, she expressed great relief at understanding her financial situation, especially seeing that she could likely live in financial security no matter what happened.

Taking prudent steps to protect herself and her business
The advisor and businesswoman discussed the selection of a divorce attorney before the couple did eventually divorce. The assets were divided in the divorce, and the court gave her full ownership of the business. She continues to run a profitable business while enjoying her children and grandchildren, as well as her brand new great-granddaughter.

As important as the financial aspect of this businesswoman’s relationship with BerryDunn Wealth Management during this difficult time of transition, she valued the listening ear of her advisor even more. In the months leading up to her divorce, the advisor shepherded her through the planning process with heartfelt compassion.

This businesswoman (aka mother, grandmother, and now great-grandmother) has worked with BerryDunn Wealth Management for many years now and the relationship has expanded over time. In addition to ongoing financial planning, BerryDunn Wealth Management provides overall investment management services, consults on estate planning and business succession questions, and has helped the businesswoman plan to finance her grandchildren’s college education, including establishing education accounts. BerryDunn Wealth Management also works with her business to provide investment services and employee education for its 401(k) plan.

Thriving in her present life
Today, meetings between BerryDunn Wealth Management and this savvy businesswoman are far more than business. The relationship is one of trust and friendship. As often as not, in addition to conducting business, she proudly recounts stories of her grandchildren and her travels across the country.

Actual performance and results will vary. These case studies do not constitute a recommendation as to the suitability of any investment for any person or persons having circumstances similar to those portrayed, and a financial advisor should be consulted regarding your specific situation. 

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