The Homeowner's Guide to Financial Professionals
Property decisions made during divorce can have long-lasting tax and wealth implications.
This guide explains the roles of CPAs and Financial Advisors, when to involve them, and how they help you avoid expensive mistakes when dividing real estate assets.
Who Are Financial Professionals?
CPAs (Certified Public Accountants) and Financial Advisors look at the long-term impact of your settlement. While attorneys focus on the law, financial professionals focus on taxes, retirement, and your financial stability post-divorce.
Core Responsibilities:
- Evaluating capital gains exposure if you sell the marital home.
- Analyzing the true after-tax value of assets (e.g., house vs. retirement account).
- Projecting your post-divorce cash flow and budget.
- Helping you rebuild wealth and adjust your retirement strategy.
When They Should Be Involved
Before deciding to keep the house
To ensure you won't be "house poor" and can maintain the property long-term.
When selling a highly appreciated home
To plan for potential capital gains taxes.
When dividing complex assets
To understand the tax consequences of trading equity for other assets.
When They Should NOT Be Involved
Drafting legal agreements
Only your attorney should draft or provide legal advice on settlement documents.
Determining current market value
Financial professionals rely on appraisers or property strategists for home valuation.
Approving mortgages
While they review your budget, only a lender can approve you for a refinance or buyout.
Important Questions To Ask
Questions You Should Ask Them
- What are the tax implications if I sell the house next year vs. this year?
- Is it better to take cash equity or keep my retirement accounts?
- How will alimony or child support affect my tax bracket?
- Based on my income, what is a safe monthly housing budget?
- Do you hold a specific divorce financial designation (like CDFA)?
Questions They Should Ask You
- What is the current basis (original purchase price + improvements) of the home?
- Do you have an accurate estimate of your post-divorce living expenses?
- Are you planning to sell the home immediately or keep it for several years?
- What other assets or debts are being divided?
- What are your long-term retirement goals?
THE LOCKHART METHOD™
Every important property decision follows the same proven process.
Understand Your Situation
Evaluate Every Option
Build Your Strategy
Coordinate The Right Professionals
Move Forward With Confidence
How Steve Coordinates With Your Financial Team
Steve Lockhart provides your CPA or Financial Advisor with accurate real estate data—including current market value, estimated net proceeds, and historical appreciation trends.
This ensures your financial team is running their tax and retirement projections based on real-world numbers, not guesses from online estimates.
Related Decisions
Explore other common property questions.
Should I Sell Before Or After Divorce?
Understand the timing implications.
Can I Keep The House?
Evaluate long-term affordability.
How Is Home Equity Divided?
Learn how equity is calculated.
How Is My Home Valued?
Understand valuation methods.
Can I Buy Another Home Before Divorce?
Explore financing during transition.
Need To Speak With A Financial Professional?
We can connect you with experienced CPAs and Financial Advisors who understand the nuances of divorce property division.