With a divorce rate of 49% in the U.S., financial planners are called upon to offer advice on financial concerns related to divorce. In this scenario, Anne Smith, comes to you for financial advice on how to ensure support for herself and the kids before and after the divorce. She has hired an attorney but they have just gotten started. She is a woman 55 years of age who has just learned her husband of 30 years wants a divorce. When the couple decided to have children, she and her spouse decided that she would give up her marketing career and stay at home with the children. The husband is an executive in a company making a comfortable salary of $100,000 a year and has decided he wants a divorce. The couple has a moderate portfolio of investments of $50,000, a home with a current value of $250,000. The husband has a retirement 401(k) portfolio of $400,000 and the wife has an IRA of $150,000.
In 4-5 short paragraphs, provide recommendations for divorce planning and explain how the article supports your recommendations.