Divorce Services

At Financial Wings we provide a broad range of financial-related services that support individuals who are contemplating or going through divorce. Regardless the chosen process – litigation, mediated or collaborative divorce – or the complexity of the case, we provide clients with solutions that allow you to gain your financial wings.

Core divorce services at a glance:

  • Educating clients to the financial and tax implications of their case
  • Financial Affidavit Preparation
  • Gather and organize financial information
  • Fact Finding
  • Creating a “bullet-proof” affidavit
  • Financial Modeling and Projections
  • Lifestyle analysis and budget development
  • Scenarios for Support and Division of Marital Assets
  • College Planning
  • Restricted stock
  • Tax issues – including estate tax
  • A knowledgeable sounding board who can answer the “what ifs”

Mediation Divorce Services 

Financial Wings provides Mediation services to couples interested in avoiding the cost and emotional stress of going through an adversarial divorce.

Mediation provides divorce resolution through the use of a trained, neutral third party.  Financial Wings will act as that neutral party, taking you through each issue (child support, alimony, parenting plans and division of assets) and allowing you to come to your own agreement. This agreement  is then drafted by an attorney who works as a co-mediator in your process.

 

Collaborative Divorce Services 

In the collaborative divorce process, Financial Wings fills the role of a neutral third party financial professional who is there for both parties. To that end, we put the raw financial data on the table, run different scenarios (i.e., after tax) and present a range of financial solutions based on the numbers. Since collaborative divorce is not an attorney driven process,

our goal is to provide both parties with the unbiased financial information they need to have enhanced confidence in regard to whatever settlement they reach.

Note: Both mediation and collaboration are informed consent processes. Therefore it is vital to go into meetings prepared with the financial facts.

 

Additional Services/Areas of Expertise

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Financial Marital Mediation

Financial Wings provides Marital Mediation to couples who are experiencing financial disagreements. Underlying financial issues are identified, interventions are developed, and the couple reaches an agreement with which they can each live.

This pragmatic, short-term intervention is designed to help couples ease their immediate points of friction, and teaches them constructive conflict resolution skills.  It is ideal for addressing financial disputes over handling money.

 

Pensions

Most people are unaware that while a teacher and state pension is valued in a divorce in Connecticut, a spouse’s corresponding Social Security “pension” is excluded. Thousands of dollars are at risk if mistakes are made.

 

Corporate Compensation & Deferred Compensation

Today’s corporate compensation packages can be extremely complex. This is particularly true in cases where the employee is highly compensated. At Financial Wings we have a proven track record for both helping attorneys and spouses understand corporate compensation and developing creative and tax efficient ways to allocate this tax-complex asset be it related to current and deferred income, income paid in cash and/or equity (stock, grants, etc.).

We provide all involved with a clear picture of how the compensation is structured and how that structure fits into divorce. We do this by developing visual spreadsheets that show the attorney/client how the compensation flows both when granted and when it is actually paid to the employee. In addition, we go over the tax issues regarding compensation and how it works in divorce.

 

Non-Divorce Services

In addition to the services listed above, Financial Wings also provides non-divorce financial services for couples and individuals. Scenarios we have helped out with include situations where both spouses are too busy to someone who is now on their own. Regardless the circumstances, you can rely on us to come up with an expert solution.

  • Budget development/lifestyle analysis
  • Expense development
  • College planning