Client: Schiller DuCanto & Fleck
Source: Chicago Daily Law Bulletin
While the Beatles immortalized the idea that you can’t buy love, when it comes to divorce, money is a significant factor. Patrick T. Ryan a partner at Schiller DuCanto & Fleck is a certified financial planner professional and helps clients to understand their current financial situation and how to plan for their financial future:
“In a divorce, being financially literate is crucial to help clients set aside emotions and ego and empower them to make sound decisions for the future,” Ryan wrote.
Financial literacy and divorce are intimately related as the outcome of a divorce will impact an individual’s economic future in immense ways. Despite the importance of being aware of one’s assets, Ryan recently reviewed a study conducted by the Organization for Economic Co-Operation and Development (OECD) which examined 30 countries and economies throughout the world and found that overall levels of financial literacy are relatively low. These findings underscore the importance of having a lawyer who understands finance and can educate their client when filling for a divorce.
Chicago Daily Law Bulletin, “Financial Literacy: The hidden, but vital part in divorce law practice,” November 2, 2016