Financial planning is an ongoing process that helps you or a financial expert manage your financial goals. Financial planning is not just about the purchase of financial products such as pensions or IRAs; rather such planning also includes ongoing management and eventual distribution of one’s financial assets.
VIP Divorce Discovery offers the clients access to financial planning services to help achieve their financial goals. These goals may involve establishing wills and trusts to protect your family. Your “financial plan,” therefore, takes on many dimensions and covers things such as how your family will manage without your income should you fall ill or die, how your family will spend money after your illness or death, and how various expenditures and financial accounts will be handled. Financial planning, therefore, involves thinking strategically about all aspects of finances.
VIP Divorce Discovery helps each client create a sound financial plan in six steps:
Prioritizing and organizing goals is a huge component of financial planning. Our clients begin by considering the cost of those goals and the amount of money necessary to carry out those goals. Planning one’s finances includes knowing when you will need your money and how much you will have when you need it. Planning for hurdles and unexpected events is important too. When you plan, you are in control of your finances rather than allowing your finances to be in control of you.
We believe each client should have confidence in their financial future. Such peace of mind develops from having an understanding of the big picture of your finances. That’s why we use the collaboration of lawyers, accountants, tax experts, insurance professionals, SEC licensed fiduciaries, bankers, and private and exclusive wealth managers to build strong financial plans for our clients. As a result, we examine your financial future from all angles by a team committed to your success.
We will assist you in coordinating your assets, investments, retirement accounts, tax liabilities, loans, bankers, accountants, lawyers, and even your social security income.
- Establish short-, medium-, and long-term goals
- Determine your assets and liabilities and retain a record of them for safekeeping
- Evaluate your current financial position and determine how close are you to achieving your goals
- Develop and implement your plan with the help of an expert financial planner by mapping out the best way to achieve your goals
- As needed, make necessary changes and follow recommended steps to make the plan happen
- Monitor and review your plan with you annually and suggest adjustments as needed
How can VIP Divorce Discovery Help?
To develop a financial strategy for your future, it is important for your financial professional to see a complete view of your financial picture, including how your retirement assets are integrated and work with one another. VIP Divorce Discovery partners with a top financial wealth management firm, working with tax professionals and attorneys, to advise our clients on specific aspects of their financial strategy. This partnership creates strong “holistic planning,” resulting in relationships that go beyond just working with retirement planners.
Our partners can develop a plan for your financial lifestyle for any stage of life you are in and for any financial situation you are in, such as managing your assets, addressing ways to reduce your tax liabilities, paying off loans, handling banking concerns, etc.