Understanding Divorcees’ Dependence on Attorneys for Financial Guidance

By Steve Schleupner, Mediator, CFP®, CDFA®, CDC®, ChFC®

In the tumultuous journey of divorce, individuals often find themselves grappling not only with legal complexities but also with profound financial uncertainties. Despite this, many divorcees instinctively turn to their attorneys for financial advice, navigating a delicate balance of trust and necessity. Here’s why:

  1. Perceived Expertise: Divorce attorneys are seen as seasoned professionals with a deep understanding of legal matters, including the financial implications of divorce. Clients often assume that their attorney’s expertise extends naturally to financial matters, leading them to seek guidance on wealth division, asset protection, and financial planning.

  2. Built-in Trust: The attorney-client relationship is inherently built on trust. From the initial consultation, clients confide in their attorneys, sharing intimate details of their financial situation and future concerns. This trust fosters a belief that the attorney is not only capable of handling legal matters but also equipped to provide sound financial advice.

  3. Limited Options: For many divorcees, the legal process is their primary avenue for seeking resolution. With limited exposure to alternative support networks such as financial planners or therapists specializing in divorce, they rely heavily on their attorney as a one-stop solution for all aspects of the divorce process, including financial guidance.

  4. Time Constraints: Divorce proceedings often unfold within a constrained timeline, leaving little room for extensive research or consultations with multiple professionals. As a result, divorcees may opt for the convenience of relying on their attorney, who is already familiar with their case and can provide immediate guidance.

  5. Emotional Support: Beyond legal expertise, attorneys often serve as emotional anchors for their clients during the turbulent divorce process. Divorcees may turn to their attorney not only for financial advice but also for reassurance, guidance, and a sense of stability in the face of uncertainty.

While attorneys play a crucial role in navigating the legal complexities of divorce, it’s essential for divorcees to recognize the limitations of relying solely on legal counsel for financial advice. Seeking guidance from qualified financial professionals and building a comprehensive support network can provide divorcees with the holistic assistance needed to navigate the financial challenges of divorce effectively.

 
 
Steven-Schleupner

Steve Schleupner specializes as a Divorce Transition Specialist, viewing divorce not just as an event but as a transformative life journey. His approach involves empowering clients to strategize for the long haul. Acting as a mediator, Steve presents various options aimed at reducing conflict and enhancing financial acumen, enabling clients to reach settlement agreements with clarity and assurance. Beyond the finalization of divorce decrees, he remains a steadfast guide, assisting clients in implementing their plans and adjusting them as circumstances evolve. With over two decades of financial planning expertise and seven years dedicated specifically to divorce coaching, Steve brings a wealth of knowledge to his practice. He holds certifications as a Certified Divorce Financial Analyst® professional, a Certified Financial Planner® professional, and a Certified Divorce Coach® in addition to his mediation qualifications.

Share this post: