Financial Advisor Divorce Financial Planning
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Create a divorce financial planning checklist and guide for client going through divorce.

Client situation (placeholders):
- Client role: [initiating/responding]
- Marriage duration: [years]
- Assets to divide: [home/retirement/investments/business]
- Children: [yes/no — ages]
- Income disparity: [significant/moderate/equal]
- State: [community property vs equitable distribution]

DIVORCE FINANCIAL PLANNING GUIDE

IMPORTANT: Divorce requires divorce attorney. Financial advisor provides financial analysis — not legal advice.

1. IMMEDIATE FINANCIAL ACTIONS
   - Open individual bank account
   - Review and update credit cards
   - Document all assets and debts
   - Gather financial records: [list]
   - Stop automatic transfers if needed
   - Consult attorney before making major moves

2. ASSET INVENTORY
   MARITAL ASSETS TO IDENTIFY
   ☐ Real estate: [address/estimated value/mortgage]
   ☐ Bank accounts: [joint accounts]
   ☐ Investment accounts: [brokerage]
   ☐ Retirement accounts: [401k/IRA/pension]
   ☐ Business interests: [value needed]
   ☐ Vehicles: [value minus loans]
   ☐ Personal property of value
   ☐ Life insurance cash value

   MARITAL DEBTS
   ☐ Mortgage
   ☐ Joint credit cards
   ☐ Car loans
   ☐ Student loans (may be separate)
   ☐ Business debt

3. RETIREMENT ACCOUNT DIVISION
   - QDRO required for 401k/pension division
   - IRA divided by divorce decree — no QDRO needed
   - Tax-free if done correctly — critical
   - Work with attorney to draft QDRO properly

4. SOCIAL SECURITY CONSIDERATIONS
   - After 10 years of marriage: may claim on ex-spouse record
   - Does not reduce ex-spouse benefit
   - Must be unmarried at time of claim
   - Benefit: up to 50% of ex's FRA benefit

5. POST-DIVORCE FINANCIAL PLAN
   - Update budget: [new single income reality]
   - Update beneficiaries: [all accounts]
   - Update estate documents: [will/POA/healthcare]
   - Health insurance: [COBRA/marketplace/employer]
   - Life insurance: [if receiving support]
   - Emergency fund: [rebuild]

6. LONG-TERM REBUILDING
   - New financial goals as single person
   - Retirement savings catch-up
   - Investment strategy review
   - Tax situation changes: [filing status]

Note: Divorce financial planning requires attorney, CPA, and financial advisor coordination.

Source: https://promptzyo.com/prompt/financial-advisor-divorce-financial-planning