Our divorce services can be divided into two broad areas:

Services During the Divorce

We are able to provide financial expertise specific to divorce no matter which method of divorce you choose.  In the past we have helped:

In each case we were able to provide value to our client to help them be in the best position possible to meet their goals. 

Financial Consultant - Collaborative Divorce

If you decide to pursue a Collaborative Divorce, we will fill the role of financial consultant during the collaborative process.  The financial consultant works with both parties and their attorneys to accomplish key financial-related objectives during the process, including:

• Help both parties determine financial goals, desires and needs
• Prepare the financial inventory of assets and liabilities
• Develop forecasts of the financial impact to both parties of proposed settlements

Financial Consultant - Traditional "Friendly" Divorce

Often, both parties agree to work together to arrive at a settlement. In these situations, we work with both parties to help them analyze various settlement options. We also provide expertise regarding the financial and tax aspects of divorce in Texas.

Financial Consultant - Traditional "Unfriendly" Divorce

Unfortunately, there are times when one of the parties to a divorce is not interested in jointly identifying an equitable property settlement. In those situations, we work with one party to help them best explore, identify and value appropriate settlement options. We can help them better communicate the financial situation, hopefully leading to a better financial settlement for them.

Services Post-Divorce

GA Bishop and Associates is also a Registered Invesment Advisor in the State of Texas and provides hourly, Fee-Only financial planning, coaching and advisory services to people of all walks of life. As a result, we are uniquely qualified to provide either or both spouses with the assistance they need to begin their new life on the right financial foot.  Our coaching positions you to manage your financial life going forward. 

Cash Flow / Budgeting

As you begin your new life, your cash flow situation will be different than when you were a married couple.  Too often, the newly divorced can be slow to recognize this reality and can begin to accumulate debt, or spend assets that were earmarked for future needs, such as retirement spending.  We can help you take control of your monthly cash flow to ensure that your spending matches up with the new goals in your life.  Our Cash Flow / Budgeting solution includes:

• Moneymax® Financial Personality -  A report outlining your style of dealing with money, along with a discussion of how that impacts your views of saving and spending money.  This report will give us insight into how to assist you in your approach to budgeting and spending in an effective way that also provides you with a greater peace of mind over time. 
• The Book, Money for Life, by Steven B. Smith introducing the Mvelopes® Online Budgeting System.  This revolutionary new tool allows consumers to track spending by category in real time, just like the old manual cash system of dividing up spending cash for the month in various envelopes labeled groceries, electricity, etc.  This remarkable system highlights unnecessary spending in your budget and helps virtually everyone identify potentially wasted dollars that can quickly drive you into debt, especially if your new lifestyle comes with lower monthly income. 
• One Hour Initial Consultation to review your Moneymax Financial Personality and prepare for your use of the Mvelopes System.  This meeting will prepare you to establish your cash flow and spending goals within the Mvelopes tool.  The tool will highlight for you the choices you must make to match your expenses with your new income level. 
• 30 Minute Follow-Up Review Meeting in approximately three months to assess the achievements you have made in your monthly cash flow and discuss any necessary adjustments.  The elapsed time between starting your new cash flow budgeting process and this meeting allows you to make your use of the Mvelopes tool a habit and to provide us with useful feedback we can use with you to fine-tune your budget. 

Financial Life (Retirement) Planning

Now that your financial situation has changed, you should review how much money you will need to fully fund the portion of your life you plan to spend in retirement.  Our solution to help you plan for this includes:

Investment Planning

Useful when your property settlement includes a sum of money designed to be invested and provide growth and/or income for you over a period of years.  This solution includes:

We can also include 401(k) and other qualified retirement plans in the recommended portfolio, although investment limitations may restrict our ability to optimize the portfolio for your needs. 

Miscellaneous Coaching & Assistance

We can help you with other aspects of your financial life as well.  For instance, you may need some help ensuring that all of your insurance policies are correctly updated for your new situation.  While we do not sell insurance policies (or any financial products, for that matter), we can provide coaching and assistance as to how to make the best choices for your situation.