Services
Going through a divorce can be a highly emotional time. Having a trusted financial expert who will look out for your best interests and provide you with the necessary tools to make informed financial decisions is critical. At Long Range Divorce Financial Analysts, Inc., our top priority is to help you avoid financial disappointments and struggles after your divorce is final. We offer the following services.
Lifestyle Analysis:
Detailed analysis of a family’s day-to-day pattern of living while married. This is performed by thorough review of all relevant financial statements, i.e. bank statements, credit card statements, investment records, etc. A report is then generated that reflects how much a family is spending on different lifestyle categories. A Lifestyle Analysis is valuable when making decisions regarding the division of marital assets, spousal maintenance, child support, and future budgets.
Cash-Flow Analysis:
A big picture Analysis of what comes in and what goes out of a family’s bank accounts. Cash-flow analysis provides record of income and spending, but does not break spending down by category. A Cash-Flow Analysis is helpful when making decisions regarding future budgets, as well as spousal maintenance and child support.
Division of Assets:
Assets can include such items as real-estate, property, cash, investments, and retirement accounts. Valuing and dividing these assets can be challenging. We can guide you in procuring the necessary documentation to value these assets as well as help you understand the post-tax consequences of various division and settlement decisions.
Nonmarital Tracing:
Nonmarital property refers to property acquired by either spouse before, during, or after the marriage. The challenge comes when this property is then co-mingled with marital assets. An example would be a 401k that was started prior to a marriage and continued into the marriage. In Minnesota, the moneys put into that account before marriage are considered “nonmarital”, yet they have become co-mingled as contributions continued during the marriage. We can trace non-marital property and help establish what should and should not be considered marital when dividing assets.
Future Budget:
Income and expenses change when a family re-organizes through divorce. Projecting a future budget is vital when making decisions regarding child support and spousal maintenance. We can assist you as you look forward and project future expenses such as housing, transportation, insurance, etc. and help you understand how various settlement decisions will affect your financial situation both in the near future and long-term.
Expert Testimony:
We are committed to you throughout your entire divorce process and beyond. Our goal is to provide you and your attorney with excellent financial data and tools to facilitate a settlement. However, if you find yourself in a trial situation, we are prepared to provide expert testimony.
Mediation:
As Qualified Rule 114 Neutrals, we are available individually as mediators, or as a co-mediation team. Mediation allows both parties to come together in a neutral, non-biased setting and make decisions for the future of their family together. Mediation empowers the family by keeping the decision making in the hands of those affected. Under MN law, the mediation process is confidential.
Advocate vs. Neutral:
We can be hired as Advocates or as Neutrals. As advocates, we are hired by one party and work only for that individual, in partnership with their attorney, if applicable. As neutrals, we are hired by and work with both parties.
Post-Divorce Services:
Need for a trusted financial expert does not end when the divorce is final. As we have walked with you through the difficult process of your divorce, we can continue to serve you in the years to come.
For more information on how we can be of value after your divorce, click here.