Loretta D. Hutchinson

Loretta D. Hutchinson CDFA®, CFP®

1669 Edgewood Rd
Yardley PA 19067
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215-376-5530

Loretta Hutchinson is the founder and President of Financial Divorce Plan, LLC with offices in Philadelphia, Bucks County, PA and Naples, Florida. “Divorce is a pivotal time both personally and financially. Decisions are made that have a huge financial impact for both a person’s lifetime and consequently their family’s as well….And most of these decisions cannot be undone.”

A lot of individuals contact Loretta when they are still contemplating the decision to divorce. "As a fomer tax accountant, I understand the importance of proactive planning and advising. The process can become less emotional, more timely and sometimes less costly." Hutchinson also works with the other members of the divorcing couple’s team such as mediators and attorneys. “The best case scenario is proactive divorce financial planning. When someone comes to me post-divorce, many decisions have already been made and they are not always in an individual’s best interests”

The complex financial aspects of a divorce settlement, Loretta Hutchinson says, are frequently beyond most attorneys’ expertise…particularly when family businesses and complex financial portfolios are involved. The less "moneyed" partner is usually handed a lump sum and that’s that. If property is part of a settlement, what can be turned into liquid assets? And what are the pre- and post-tax ramifications?

“Most advisors look at numbers in black and white,” says Hutchinson. “Quite frankly, it’s a little bit more involved than that. You have to determine what the numbers are going to do for you in a lifetime. And for everyone that’s something different.”

For Hutchinson, a Nationally Certified Counselor, finances also have an emotional component. Emotional guidance is useful when handling finances, especially with divorce. “Money means different things to people,” she says. “Sometimes it’s love. Sometimes it’s power.”

“It doesn’t matter who initiated the divorce; many financial decisions have to be made,” says Hutchinson. “Once the divorce is final, it’s law. The ability to communicate and listen with someone who’s emotional, raw and frustrated, feeling their life is out of control, is important. By just listening, clients feel a sense of validation and support. Many then feel like they’re ready to make decisions and move forward.”