Collaborative Divorce Texas

  • Donate
  • For Professionals
    • Membership Advantages
    • Events/Training
    • Become a Member
    • For Students
    • Volunteer at CDT
    • Advertise With Us
  • Contact Us
  • Login
  • Home
  • Find a Collaborative Professional
  • What is a Collaborative Divorce?
    • What is Collaborative Divorce?
    • Frequently Asked Questions
    • About CDTexas
    • Master and Credentialed Collaborative Divorce Professionals
    • The Gay G. Cox Award for Excellence in Collaborative Law
  • Blog
  • For Collaborative Professionals
    • Membership Benefits
    • Events/Training
    • Become a Member
    • For Students
    • Advertise With Us
    • Volunteer at CDT
    • Login
  • Donate
  • Contact Us
  • What is Collaborative Divorce?
    • What is Collaborative Divorce?
    • Why Use a CDTexas Member?
    • About Us
    • Master and Credentialed Collaborative Divorce Professionals
    • The Gay G. Cox Award for Excellence in Collaborative Law
  • Testimonials
  • FAQs
  • Blog
  • Find A Professional
    • How Do I Choose a Collaborative Professional?
    • Attorneys
    • Financial Professionals
    • Mental Health Professionals
    • See All
You are here: Home / Blog / The Wisters and the Role of a Financial Professional in their Collaborative Divorce

The Wisters and the Role of a Financial Professional in their Collaborative Divorce

February 22, 2021 By Joelle Hinds, CFP®, CDFA®

This fictional profile gives insight to the role that a Financial Advisor plays as a neutral in the Collaborative Divorce process.

Financial and Collaborative Divorce

The Collaborative Divorce process is an alternative process to a traditional courtroom divorce.  The process involves the divorcing parties, their legal representatives, a Mental Health Professional and a Financial Professional.  The Mental Health and Financial Professionals are neutrals in the process – neither specifically associated with either of the divorcing parties.

PROFILE

Taylor B. and Jordan T. are attorneys who are representing Alex and Blake Wister, who have chosen to utilize the Collaborative Divorce process.  Taylor and Jordan contacted me, as a financial neutral to round out the Collaborative Divorce team that also includes a Mental Health Professional and a Parenting Specialist.

HOW I HELPED

Alex and Blake provided information about their financial estate.  Each owned Individual Retirement Accounts (IRAs).  Blake has a 401K account and deferred compensation (restricted stock units and employer stock options).  They own a marital home, a vacation home, joint brokerage and checking accounts.

Values for each of the accounts were substantiated with current statements, recognizing the gains and losses in the accounts that held investment assets and the values of the deferred compensation as of the start of the marriage.  I presented options for division based on their stated goals, explaining each assets’ characterization and the effect on values.

Alex had not managed household finances in years and asked for assistance with establishing a budget.  I worked with Alex to identify anticipated expenses to determine cash flow needs.

At the conclusion of the engagement, I provided individualized financial plans to Alex and Blake that they can use as a benchmark for their specific households.

Certified Divorce Financial Analysts play an important role in helping couples to resolve the financial issues in their divorce.  The neutral perspective allows the each member of the couple to understand their finances and options for dividing their assets and to build a plan for their independent financial futures. 

Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and federally registered CFP (with flame design) in the U.S, which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.

The use of the CDFA designation does not permit the rendering of legal advice by Morgan Stanley or its Financial Advisors which may only be done by a licensed attorney.  The CDFA designation is not intended to imply that either Morgan Stanley or its Financial Advisors are acting as experts in this field 

The case study presented is provided for illustrative purposed only.  Past performance is no guarantee of future results.  The information has been obtained from sources we believe to be reliable, but we cannot guarantee its accuracy or completeness.  These strategies do not guarantee a profit or protect against loss and may not be suitable for all investors.  Each customer’s specific situation, goals, and results may differ.

Morgan Stanley Smith Barney LLC does not accept appointments, nor will it act as a trustee, but it will provide access to trust services through an appropriate third-party corporate trustee.

Morgan Stanley offers a wide array of brokerage and advisory services to its clients, each of which may create a different type of relationship with different obligations to you. Please consult with your Financial Advisor to understand these differences.

Tax laws are complex and subject to change.  Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice and are not “fiduciaries” (under the Internal Revenue Code or otherwise) with respect to the services or activities described herein except as otherwise provided in writing by Morgan Stanley and/or as described at www.morganstanley.com/disclosures/dol.  Individuals are encouraged to consult their tax and legal advisors regarding any potential tax and related consequences of any investments made under such account.

This material does not provide individually tailored investment advice.  It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.  The strategies and/or investments discussed in this material may not be suitable for all investors.  Morgan Stanley Wealth Management recommends that investors independently evaluate particular investments and strategies and encourages investors to seek the advice of a Financial Advisor.  The appropriateness of a particular investment or strategy will depend on an investor’s individual circumstances and objectives

About Joelle Hinds, CFP®, CDFA®

Joelle Hinds, CFP®, CDFA® works to inspire her clients to pursue healthy financial lives for themselves and the ones they love.

Filed Under: Blog, Our-Featured-Authors Tagged With: collaborative divorce, Financial Professional

Find a Professional

Getting started with the Collaborative Process?

First your need to connect with a trained Collaborative Professional.

[Find Out More....]

Articles by Category

Featured Video

  • Child of Divorce
  • Collaborative Divorce Testimonial

Why Collaborative?

  • Jennifer Leister
  • Steve Walker
  • Carla Calabrese
  • Dawn Budner
  • Becky Davenport
  • Jody Johnson
  • Honey Schef
  • James Urmin
  • Kurt Chacon
  • Natalie Gregg
  • Robert Matlock
  • Deborah Lyons
  • Carlos Salinas
  • Camille Scroggins
  • Linda Solomon
  • Richard Soat
  • Lisa Rothfus
  • Jeffrey Shore
  • Barbara Cole
  • David Brunson
  • Jennifer Tull
  • Syd Sh
  • Susan Z. Wright
  • Christi Trusler
  • Camille Milnser
  • Linda Threats
  • Sarah Keathley
  • MaryAnn Kildebeck
  • David Bouschor
  • LIsa Marquis
  • Harry Munsinger
  • Vicki James
  • Robin Watts
  • Katie Berry
  • Jack Emmott
  • Jennifer Broussard
  • Patricia Havard
  • Paula Locke Smyth
  • Laura Schlenker
  • Norma Trusch
  • Brett Christiansen
  • Tim Whitten
  • Mickey Gayler
  • Melinsa Eitzen
  • Julian Schwartz
  • MaryAnn Knolle
  • Chad Olsen
  • Chris Farish
  • Charles Quaid
  • Anne Shuttee
  • Barbara Runge
  • Rhonda Cleaves -
  • Jamie Patterson
  • Catherine Baron
  • Kristen Algert
  • Sandra Roland
  • Rhonda Cleaves 2
  • Gratia Schoemakers

Have you read?

3 Rules for Introducing a “Step” Parent to Kids

I have had the pleasure of working with families during their transitions, their initial divorce, post-divorce modifications or a second marriage. I started using the language “Bonus Parents and Bonus … [Read More...]

More Articles from this Category

The Collaborative Law Institute of Texas

d/b/a
Collaborative Divorce Texas

Proud Members of IACP

12400 Coit Road
Suite 1270
Dallas, TX 75251
(972) 386-0158

Please note: Our office will be closed on

Holiday closures:
Limited: Nov. 23rd & 24th
Closed: Nov. 25th , 26th and 27th

December 24, 2020 - January 1, 2021


Website Terms of Usage

Contact Our Webmaster

 

Follow Us

  • Facebook
  • LinkedIn
  • Twitter
  • Vimeo
  • YouTube

Search Our Website

Find A Professional

  • Find a Collaborative Professional
  • Attorneys
  • Financial Professionals
  • Mental Health Professionals
  • See All
EnglishFrançaisDeutschItalianoPortuguêsEspañol

Copyright © 2021 · Collaborative Divorce Texas · All Rights Reserved

· · ·

Web Design and Maintenance by The Crouch Group