Transition Planning

A financial plan to manage cash flow changes after a divorce settlement is crucial. Top of the list of requirements is a cash flow plan for your revenue and expenditure. Divorce alters your expenses, which, in turn, interfere with savings and investment. Divorce financial planning enables you to expend your income wisely to avoid credit risks.

Additionally, divorce financial planning is vital for financial risk assessment. The need to separate assets, property and joint investment portfolios comes with high risks. For instance, in liquidity, the market price at the time of divorce may not favor the selling price.

Tax exposure when allocating assets is another significant risk. Some investments have higher risks than others. Allocation during the settlement can expose you or your spouse to more taxes. There are also insurance risks because of changes in your profile.

A financial advisor helps you allocate funds for additional responsibilities like alimony, change your estate planning documents accordingly, and change your digital and other financial accounts during the transition.

The process of wealth transfer can be daunting, especially when beneficiaries are aware of the process. Financial transition planning can help you manage the mental turmoil and activities that come with inheritance.

The plan enables you to

• Allocate your assets, properties, investment, and money without unnecessary pressure.
• Make smart financial plans with your inheritance while dealing with loss.
• Make peace with your inheritance portion
• Reduce the burden of fighting over inheritance because of probate circumstances.

A business transition plan puts together the purpose, objectives, strategies, and outcome of the shift. You can analyze and grade tasks and the implementation process with financial transition planning to get a precise outlook. The plan also prevents over spending, helps you avoid unnecessary taxation, meet all legal requirements, have a contingency plan, and provides structure during execution.

Financial Transition Plans are significant for

• Creating a feasible exit plan that ensures all stakeholders get their cut and the closer or diversion follows due process
• Change in business location. You need a plan that covers new market assessment, in-depth analysis, relocation logistics, and so much more to successively change business location.
• Mergers - businesses expanding through mergers or downsizing through acquisitions need to prepare financially for the change
• Deal with the strain and uncertainties without mental exhaustion.

Retirement preparation is not easy. The process can interfere with your financial planning. Financial transition planning enables you to establish ways to supplement your income with regular pension payment without getting overwhelmed with the process. At DAHL financial Group, we guide on developing strategies to accrue money for sustenance and develop a positive mentality toward the incoming change.

Aside from the employer-provided 401k pension account, you can develop strategies to increase your revenue from investments. We provide insights on investment opportunities, minimizing taxation, and choosing the right insurance so you can live your best post-work life.

A financial transition plan can help you manage long-term and short-term health complications without eroding your estate. We can guide on the best insurance plans with pocket-friendly premium rates and how to structure your finances well to cover your health issues without depleting your income streams.

The death of a spouse comes with many deliberations, legal work, and responsibilities. Financial transition planning lessens this burden considerably.

The plan helps you

• Settle the estate, depending on who the deceased termed as the beneficiary.
• Plan on the deceased's social security funds by filing for survivor benefits.
• Follow through with the deceased's life Insurance policy if they had one.
• Budget on your income streams and spending, especially if the deceased was the breadwinner.
• Mourn without the burden of financial loss.

If you are going through major life change and need financial transition planning contact us for more information.

Investors should be aware that investing based upon a strategy or strategies does not assure a profit or guarantee against loss. Insurance is a product of the insurance industry. Guarantees are subject to the claims-paying ability of the insurance company and surrender charges may apply if money is withdrawn before the end of the contract. Please keep in mind Insurance companies alone determine insurability, and some people, for their own health or lifestyle reasons, are deemed uninsurable.