Authored by Lauren Mullee, Partner with Buncher Family Law. Reprinted with her permission.

Lauren Mullee, partner with Buncher Family Law, recently met up with Keythe Ward-Aguilar Certified Financial Planner and founder of ProCore Advisors, in Newport Beach, to discuss the implications of divorce and financial planning. After initially working as a stockbroker, Keythe experienced her own challenging divorce. Through this experience, she discovered a passion for helping individuals going through transition. After the financial changes she experienced personally, she saw firsthand how valuable financial planning is for the entire family’s future. She brings a wealth of knowledge, plus her own personal experience, to guide people in planning for their futures.

Q: What challenges do you see facing clients who have recently gone through a divorce?

A: It depends on their ages. In younger clients, the primary challenge I see is a casual view about financial planning. There seems to be an overconfident attitude that it will all, somehow, work out in the end. Some younger clients have unrealistic expectations about what they will be entitled to from the divorce and need good attorneys to explain the process and the law to them. While I wish that things would always magically “work out”, I have seen far too many situations where that just does not happen. Therefore, younger clients present a wonderful opportunity for me to help educate them about their own financial personality and to develop strategies to set them up for future success. Many of these clients also need to build credit in their own name so they will be poised to be better able to purchase a home after the divorce is over. I try to ensure that they are not too caught up in the current moment, and that we would rather focus on future goals.

With clients with more life experience, I typically notice more fear, nervousness and over-protection. I work hard to help them to open up to me so we can work together for their benefit. Creating a financial plan ASAP for these clients is vitally important. In many cases it takes longer for final decisions to be made. That’s fine; I am here to help! I take whatever time these clients need to explain the differences between various types of retirement accounts and other investments.

Q: What advice would you give someone who is about to start a divorce case?

A: Meet with a financial planner in conjunction with your family law attorney, before any action is taken. This will save time, legal fees, and will allow a collaborative approach to your financial future. Your attorney and I can work together to see what you can afford, how much you should be saving, and even though we won’t yet know the final picture until after the divorce is over at that stage, we’ll be able to help you position yourself to minimize and plan for the financial impact of the divorce proceedings.

Q: What sets you and your firm apart?

A:  Regardless of age, financial history, and other factors, financial challenges can be complex. I am adept at handling these challenges with compassion and kindness. People often put off their financial planning until they are on the brink of, or in the midst of, a transition. I understand that. I have empathy for life’s changes and how they can impact a clients’ needs, and the needs of their family members. Having majored in Architecture in college, I see financial planning like building a house, brick by brick. With attention to detail and my years of experience, I ensure that we build a solid financial foundation for our clients that will serve them for years to come.