Dealing With Financial Planning
In Shang & Co. we believe that comprehensive and long-term financial planning for our client does not confine to the divorce process only. Hence, we take a step further to focus and develop our client's financial strategies i.e. maintenance, and assets division, and extend such strategy to even after divorce so that our client would have better financial standing in their new chapter of life.
We believe that if financial planning one would be able to gain the most advantage by starting the financial planning early to safeguard his or her financial position even during their crisis in life.
Areas of Expertise in Family Law
It is very common to see that couples tend to plan their wedding, decorating their new house and even planning their honeymoon. However, not many couples are seen to have planned their finance. I cannot emphasize enough that couples who failed to have a sound Family Financial Plan will most often than not lead to many disputes which all are rooted down to 'money'.
At this point in time, if you have not got a sound financial plan before the divorce, it is a must for you to have one during the divorce. I wish that you did not start or caught up in a divorce proceeding without a sound financial plan. If you do not have a sound financial plan during divorce, you will be constantly facing fear and uncertainty as you do not know how much you might lose, your damages, or even what you will be getting.
You are in a marriage and probably think that you have had bought insurance that gives you good coverage but that is not the financial planning that I'm talking about. A distinction can be made between family financial planning and financial planning. Family Financial Planning refers to a plan that both husband and wife have for the family while financial planning is a plan of an individual for his/her own and their loved ones which only takes into account the goals and circumstances of that individual.
Well, if after the divorce proceeding you are living way better than you did during the marriage, then it is good for you but that does not mean you can run away from financial planning as there is so much more to plan than it was. However, if you are the unlucky ones, losing out and living a much humble life after divorce, then you will definitely need immediate attention to be given to your financial situation before you are dragged down further because you cannot afford to lose more than you did.