BagLady Divorce with Deana Brown: Understanding Your Marital Assets
I recently had an amazing experience that reassured me of the importance of my work.
A new client came in yesterday to discuss the finances in her divorce. Throughout her long-term marriage, she was not involved with the day-to-day finances, so she did not have a good idea about what finances they had. Her husband had offered to pay her $100,000 a year for four years only. Using her tax returns, I began working on her financial affidavit and compiled all her the marital assets. When I showed her these assets, that totaled in more than $7.5 million dollars, she was completely blown away.
She had thought that she would be left with almost nothing after thirty years of marriage, because this is what her husband had led her to believe. She also came to believe that if the assets were in her husband's name, then they were not shared assets. I explained that if the asset was built during the marriage, despite who's name it was under, it was still part of their martial assets.
The meeting ended with a hug, and she told me she finally had the hope and reassurance she needed.
Working collaboratively with her attorney, who introduced me to her, we will do our best to secure her the best deal for her.
Women like her are the reason why I do what I do. Don't keep me a secret; if you know someone who has been in a long-term marriage and had little involvement with the finances, link them with a financial professional like myself.