Liebman Associates

Note that answers given in this section cannot take the place of a lawyer. For legal advice about your specific situation, you must consult a qualified lawyer. See our disclaimer.

"I want a divorce, but I don't think I can afford it.
What do I do?"


An Article written for Divorce Magazine by Nancy Liebman.


In order to determine if you can afford a divorce and what is the most effective way to structure a settlement, you first need to understand your total financial picture. Then you can look at the goals for your life after divorce and make informed decisions.

Step one is to assemble the information necessary for a financial inventory. This inventory will reflect family assets, liabilities, monthly income, and expenses. For the Asset/Liability portion, you will need to have the latest statements from your checking, savings, brokerage, insurance, and retirement accounts. You also need to know the approximate gross value of your home, the mortgage due, the down payment originally paid, and the total dollar amount of any repairs and improvements made. Your liabilities include your mortgage, credit-card debt, school and car loans, etc. Lastly, provide copies of your tax returns for the last three years.

To analyze your monthly expenses, go through your checks and credit-card statements for the last calendar year. Then make adjustments for any changes you're aware of for the future. There's computer software available that makes it easier to change and update information.

Now we have the information necessary to look at various scenarios and determine what you can afford to do -- and not to do. We'll look at anticipated future growth of assets, retirement plans, and sale of your home, and evaluate outcomes based on tax liability as well a meeting income objectives.

Remember, it is a financial planner's objective to help you successfully navigate the financial maze of divorce and to help you construct financial strategies that will best secure your future.






© 2011 Liebman Associates, Inc.

The LPL Financial Registered Representative associated with this site may only discuss
and/or transact securities business with residents of the following states: CA, CT, IL, IN, NJ
Securities & Advisory Services offered through LPL Financial.
A Registered Investment Advisor Member FINRA / SIPC
Financial Planning offered through Liebman Associates, Inc.


This website may contain links to other, third party websites. This does not guarantee the accuracy, timeliness, completeness or usefulness, and is not responsible or liable for any content, advertising, products, or other materials on or available from third party sites.
You will use third party content only at your own risk.

Page last updated October 2009 Disclosures :: Website by Glantz Design