Sharing a financial advisor in divorce can lead to disaster

Seeking financial advice prior to and during a divorce in Oklahoma makes perfect sense, but when two splitting spouses share the same financial professionals, the waters can get a bit murky. Whether someone is a dependent spouse or not, continuing to rely on the advice of a shared financial advisor may lead to a conflict of interest for the advisor and a conflict with one’s soon-to-be ex over assets.

According to research provided by MarketWatch, spouses often find that they feel the desire to split things evenly in the early stages of divorce, but this can change as each spouse learns to live independently. The resulting mismatch in ideals could lead to contested divorce proceedings in court. In addition, time also gives each spouse the ability to really inspect what they put into a marriage as individuals, potentially changing expectations of what each wishes to receive in the dissolution of the relationship.

To protect each spouse’s interest, MarketWatch suggests ending any shared relationships with financial advisors and seeking the services of a new professional individually. In addition, spouses are encouraged to seek out independent partnerships with accountants to put together a detailed picture of what financial assets are at stake and what assets were brought into the marriage versus what assets were acquired during the union.

Working out the details of a divorce can be complex, especially when high-value assets are involved or when one spouse is contesting the terms of a divorce. As a result, many people find it beneficial to turn to the services of an independent family law attorney. Partnering with one’s own family law divorce attorney may eliminate the potential for a conflict of interest and help result in equitable outcomes for all parties involved in the dissolution of a marriage.