Tom Cruise and Katie Holmes are splitting after five years of marriage.
If your clients are going through similar upheaval, read on.
Lawyers are now suggesting clients seek advice from financial planners before beginning divorce mediation, reports Brynna Leslie in the Globe and Mail.
“The majority of family cases have some component of financial and tax issues that can be complex, challenging and require advice outside of the legal profession,” says Ottawa family lawyer Adriana Doyle.
Read: Divorce planning for advisors
Usually in a couple, one person knows more about the finances, or there is a general lack of financial education.
Expert advice can help level the playing field and help and ensure that both parties understand how the outcome of the negotiations they’re having now will affect their financial futures.
Read: Divorce planning a modern must
If your clients are business owners, there are more factors to take into account. Find out how to properly structure a business to protect it from your client’s spouse.
Read: Protect entrepreneur clients
