In the past year, I have had two (2) cases where the parties originally selected a financial advisor to prepare their divorce for them.  In both cases, it was a catastrophe.  In Louisville (and in Kentucky) there is no certification by the Bar Association of para professionals.  If you do not hire a lawyer, then you do not have an officer of the Court.  You do not have any way to examine the representations made by a soon-to-be former spouse who does not share your financial interest.

In one of the cases, the financial advisor acted as a stenographer and drafted a conclusion to the parties’ divorce that was demanded by the husband.  The wife eventually discovered that the value of the parties’ estate was severely misrepresented.  It took a little under three (3) years to unwind the unfortunate situation and get her back to where she should have been.

In the other case, the wife insisted that the husband no longer have access to an attorney.  She wanted to dictate to him the conclusion to his dissolution that she believed he deserved.

I would first caution you that any financial professional who holds out these services is dangerous.  They are trying to practice law without a license.  Inevitably, problems will arise.

Second, a lawyer can do things for you that only lawyers can do.  I can conduct discovery (find out how much you have and where it is).  I can subpoena documents from your banks and brokerages.

Third, you have actual recourse against an attorney who commits malpractice.  I am regulated by the state.  People make mistakes all the time.  If the mistake happens with your money, make sure that you have some protection.