No matter how much you know about money, getting a divorce can be hard, stressful, and confusing. We listen to what’s important to you and give you education and knowledge to help you find the divorce process that will support your goals and interests. Once you choose the process you want, we focus on teaching you and giving you the tools you need to make thoughtful and, if necessary, creative choices about the money part of your divorce settlement.

Divorce is more than just following the law. It’s likely the most important money event in your life so far. When you’re going through a divorce, your emotions can get the best of you, making it hard to make smart financial choices.

Litigation

Going to divorce court can be stressful and hard to understand, especially when you have to make tough financial choices. The choices made about money during a divorce have a big effect on future earnings.

LBMC’s trained financial experts work with clients and their lawyers to make sure that all of the clients’ financial information is clear, including what property is theirs and what is not theirs. Our in-depth analyses help clients understand how different settlement choices will affect their taxes and money.

Our experts often go to mediations to look at the financial effects of settlement deals right away. This way, there are no surprises after the divorce. We write in-depth reports to help clients, their lawyers, and mediators come to an understanding.

Most divorce cases are settled out of court, but LBMC can be called as an expert witness if needed. For the trial, it is very important to have clear, concise lists of the marital and separate property, the marriage lifestyle, and the lifestyle after the divorce. Forensic accounting is another thing we do to look into money problems like lost assets or the income and costs of a business.

We help our clients carry out the financial terms of their divorce settlements and get used to their new financial situations by educating them and giving them practical help to make the change easier.

Collaborative Divorce

The Collaborative Divorce process acknowledges that every split has legal, financial, and emotional parts. Instead of getting ready for war, the process helps people settle their divorce by solving problems. We try to give each partner the information they need to make smart choices for their family and themselves. Each partner has a collaboratively-trained lawyer, and they work with a mental health professional (called a divorce coach) and a neutral financial professional who are also collaboratively-trained to help the couple come to an agreement that works for both of them in a situation that would otherwise be bad.

Both people in the divorce choose to use the joint process to work out their differences without going to court. Instead of having a court make decisions for you and your family, you and your professional team meet to get information and use it to make good choices about your children, property, and lives after the divorce. The meetings will end with both of you signing a settlement deal. This will let you get a divorce without a fight.

The divorce process is faster, cheaper, and easier if you have the right legal, emotional, and financial pros by your side to help you with information and advice. Instead of having two lawyers ask for and look over a lot of financial records in court, the financial neutral works for both spouses to gather and analyze only the data needed to fully address the financial aspects of your divorce and help you both understand how much it will cost to live after the divorce. At LBMC, we give you tax information and advice about the settlement you are thinking about so that neither of you has to deal with unintended financial effects after the divorce.

Mediation

Our Rule 31 Listed Family Mediator helps families navigate the financial complexities of divorce as a neutral third party. We work with both partners to gather and analyze relevant data to address financial settlements and support issues. Additionally, we educate clients on their post-divorce financial needs and provide tax information related to proposed settlements.

We see divorce as a major life event that involves legal, financial, and emotional issues. Because of this, we often work with an attorney-mediator or a mediator who is also a licensed mental health professional to help families deal with their issues in a quick, effective, and fair way.

When clients prefer neutral mediators for all aspects of divorce, we coordinate with licensed mediators from other fields. This co-mediation approach helps couples resolve differences efficiently, considering all critical factors—legal, emotional, and financial—leading to better outcomes for families.

Benefits of Hiring a Financial Expert

LBMC’s financial experts carefully look over business records, tax returns, bank statements, and other financial papers to make sure no important details are missed. What we offer:

• Analysis: Clear reports and tools to look at the financial and tax effects of the different settlement choices.
• Creativity: Coming up with new ways to handle money that aren’t limited by the law but still meet the wants of the family.

We guide clients through life, overcoming obstacles and planning for success.

You share your hopes, dreams, and vision. We care about you and want to help you succeed financially. Use our knowledge to educate and assist you reach your financial objectives in a way that matches your family’s circumstances. We think the only stupid question is the one unasked.

Our divorce financial planning services include:

• Education and Retirement Planning
• Budget and Cash Flow Planning
• Wealth Management
• Tax and Estate Planning
• Risk Management

How do you see your life? Our clients have different goals, needs, and priorities. We get to know you and your values so our work supports your goals and values at any age. We help you develop and implement a financial strategy to meet your goals. We will help you validate your goals, determine the optimum resource allocation, and plan your financial future. You can design a comprehensive financial plan or let us help with specific financial needs based on your goals. Our services are customized for you.

We offer fee-only financial planning. We provide independent financial advise and do not accept commissions or referral fees from financial product firms. You, our client, pay us directly for services, never products. As our clients prosper, so do we.

Education and Retirement Planning

Two of the most significant financial considerations you will face in your lifetime are planning for your retirement and saving for your children’s education. We understand the importance and can help you achieve both.

How much money do you need to live the retirement life you envision? How do you want to spend your time in retirement? We will assist you map the route and identify and avoid difficulties. We look for investments that match your investment philosophy, horizon, and risk tolerance, whether through employer-sponsored retirement and deferred compensation benefits or other retirement accounts. We also help with Social Security and Medicare confusion.

Student loan debt can bankrupt families and young people unprepared for rising college costs. Let us help you calculate college costs and build a savings plan for your young family members so they can succeed financially after graduation. To help clients repaying student loans, we find and assess refinancing possibilities that may benefit their finances.

Budget and Cash Flow Planning

Should you pay cash or borrow? Spend now or save for later? Financial priorities and spending habits vary. We help you adjust your spending to your priorities, assess cash flow, and design a customized financial plan. We’ll optimize your income and lower your spending to create a coordinated financial strategy that suits your priorities.

Wealth Management

A robust and growing portfolio can give you the freedom to pursue your dreams. We offer continuing financial management to support you through life transitions like job changes, divorce, and death. We get to know you and use research, insight, and expertise to design a unique, tailored plan to reach your goals.

Tax and Estate Planning

You want your end-of-life and wealth-distribution decisions made after creating your estate. We create a complete estate plan that honors your intentions when you die. We can help you choose, assess, and coordinate wills, living wills, powers of attorney, trusts, lifelong gifts, and charitable giving to maximize your generosity and minimize estate and heir tax burden. We find and work with your estate planning attorney to ensure all paperwork match your financial plan. We welcome current or new attorney connections with our clients.

Risk Management Planning

Don’t let disaster stop your financial achievement. You may spend a lot of time establishing and growing your estate, but most people spend less time preserving it from outside causes. The right insurance coverage can help you manage risk and protect your assets against unemployment, illness, and other unanticipated events. We assess your risks and recommend risk-appropriate coverage to safeguard your assets and provide financial peace for you and your family, whether you need to increase property and casualty coverage, reassess life insurance, or plan for long-term care.

Our Family Law Support Services team brings national experience in subject matter and industry expertise.

• Deposition and Testimony Experience
• Technical, Subject Matter, and Industry Expertise
• National Reputations for Independence and Objectivity
• Valuation and Forensic Credentials from the AICPA, the American Society of Appraisers, and the National Association of Certified Valuators and Analysts
• Tennessee Supreme Court Rule 31 Listed Family Mediator Specially Trained in Domestic Violence
• Certified Public Accountant/Personal Financial Specialist
• Advanced Divorce Financial Analyst
• Certified Divorce Financial Analyst
• Trained in Collaborative Law

Disclaimer

LBMC, PC, is not a law firm and no portion of this website and associated blog content should be construed as legal advice. To the extent a reader has any questions regarding the applicability of any specific issue discussed herein to their individual situation, they are encouraged to consult with the professional adviser of their choosing.

Information included in this website and associated blog is for educational purposes only and is not intended as an offer or solicitation for the sale or purchase of specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Please consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance may not be indicative of future results.