Quiz

The following questions will help you decide if you would benefit from a professional analysis of the financial issues related to your divorce. Answer them as best you can and score your results at the end.

1.  Regarding household income, my spouse and I

A.  Earn about the same.
B.  One income is somewhat more than the other.
C.  One income is significantly more than the other.
D.  One of us has no personal income.

2.  Regarding the handling of household finances, we

A.  both pay bills and both manage investments.
B.  one of us mostly pays bills, the other mostly manages investments.
C.  one of us only pays bills, the other manages all the investments.
D.  one of us pays bills and manages investments, the other does neither. 

3.  Marital assets, the total value of everything you and your spouse own, is

A.  less than $500,000, including the primary residence.
B.  between $500,000 and $1 million, including the primary residence.
C.  more than $1 million, including the primary residence.
D.  more than $1 million, in addition to the primary residence.

4.  How do you feel regarding your future financial condition?

A.  Very confident.
B.  A bit uncertain, but will probably be ok.
C.  Very uncertain now, but know where to get help.
D.  Very uncertain and unsure what to do.

5.  Regarding any business(es) owned by you or your spouse,

A.  neither of us owns any part of a business.
B.  one of us works in a family business, but has no ownership.
C.  both of us work in a family business, but neither has any ownership.
D.  one or both of us owns all, or part, of a business.

6.  Regarding any inheritance or gifts received,

A.  neither of us has received any inheritance or gifts.
B.  one/both of us has received inheritance/gifts and kept it separate.
C.  one/both of us has received inheritance/gifts and did something with it together.
D.  one/both of us has received inheritance/gifts and I don't know where it is now.

7.  Number of years you and your spouse have been married

A.  Less than 4 years
B.  Between 4 and 10 years
C.  Between 10 and 20 years

D.  More than 20 years

8.  Regarding children from this marriage, you and your spouse have

A.  no children.
B.  child(ren) who are now independent adults.
C.  child(ren), all of whom are over 12 years of age.
D.  one or more child(ren) under 12 years of age.

9.  Do you and your spouse have a pre-nuptial (or post-nuptial) agreement?

A.  No, neither of us had anything when we got married.
B.  Yes, and my attorney feels it is "air-tight".
C.  Yes, and my attorney feels it is subject to interpretation.
D.  No, but we probably should have had one.

10. Regarding the spirit of the divorce, you and your spouse

A.  are extremely amicable and cooperative.
B.  have minor differences we can probably work out oursleves.
C.  have differences that will require some negotiations.
D.  have significant differences that will cause a dispute regarding the division of marital property or other issues important to me.

Add up your total score using the following values for each response.

A = 1       B = 2       C = 3       D = 4

Score less than 20 You are not likely to benefit greatly from a professional financial analysis of your situation. If you feel that you need general guidance on some issues, you may want to arrange for an initial consultation to gain a better understanding of what your financial issues may be.

Score between 20 and 29 You would probably benefit from a professional financial analysis. I suggest that you schedule an initial consult to gain additional insight into what financial issues you may be facing and how they effect your long term financial well-being.

Score between 30 and 40 You are most likely to benefit from a professional financial analysis of your situation. I strongly encourage you to schedule an initial consult to identify potential financial pitfalls and better determine your needs. Proceeding without a financial expert on your divorce team may present significant risk to your future long term financial well-being.

© 2015 Rosemary Frank Financial, LLC  Educational purposes only. No financial, legal or tax advice provided.

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