Going through a divorce is never easy. It can be emotionally exhausting and financially complex, and the stakes can be especially high for those with substantial wealth. We’ve found that good wealth planning can bring some order to an otherwise unsettled time. The goal isn’t to predict every turn in the process, but to make sure you understand what you own, what you need and what the decisions in front of you may mean for the years ahead.

We encourage anyone facing a divorce to assemble a trusted team of professionals at the outset. For many clients, this includes experienced divorce counsel, tax professionals, estate planning counsel and a Private Wealth Advisor who can help quarterback the team, model scenarios and be a thought partner as you discuss complicated trade-offs.

With that foundation in place, we have found there to be five especially helpful financial guidelines. Don’t think of these as one-size-fits-all rules, but considerations that can help bring greater clarity to decisions.

1. Create a financial safety net.

One of the first priorities is making sure you have enough accessible cash to cover expenses while the rest of your picture is being sorted out.

We often work with clients to set aside a cash reserve equal to roughly a year of living expenses, although the right amount depends on the circumstances. The key is to understand your new budget, how reliable your income will be and how long you may need to bridge before a settlement or support payments are finalized.

Having that reserve can help you avoid selling investments at an unfavorable time or relying on high-interest credit cards to cover expenses. A line of credit may provide additional liquidity, but borrowing should be considered carefully because the debt and its terms could affect your settlement and post-divorce balance sheet.

2. Balance emotions and finances when it comes to your home.

It’s natural to feel attached to your home, particularly when it’s where your children grew up. But keeping it after a divorce should ultimately be a dollars and cents decision as well as an emotional one.

Start by looking at the full cost of ownership: mortgage, property taxes, insurance and maintenance. As a general rule of thumb, it’s a red flag if those costs consume more than 30% of your post-divorce gross income. And the cost of the house is only part of the equation. You may also need to refinance the mortgage or qualify for new financing on a single income, which can make an expensive home even harder to sustain.

The result can be a beautiful house that leaves too little cash for everything else. That’s why we encourage clients to look at the home alongside their broader financial plan rather than treating it as a separate decision.

We once worked with a client who strongly wanted to keep a large family home. We modeled two scenarios: keeping the house with its ongoing costs — maintenance, property taxes, insurance, landscaping, security systems and the like — which can typically run 3% to 6% of the value of a high-end home each year, versus selling the property, investing the proceeds and renting for a couple of years.

The long-term projections surprised the client, who ultimately chose to downsize. They later told us it was one of the best decisions they made.

3. Insist on apples-to-apples asset splitting.

A dollar is not always a dollar in a divorce settlement. Consider a simple example: one spouse receives $500,000 in a savings account while the other gets $500,000 in a 401(k). The amounts are equal on paper, but they are not equivalent. Withdrawals from the 401(k) may be subject to income taxes and, depending on the circumstances, early-withdrawal penalties.

With that in mind, we work with clients to evaluate assets after taxes and liquidity constraints. In some cases, the most equitable solution may be to negotiate a different mix of assets. In others, it may make more sense to share the tax impact by selling assets and dividing the after-tax proceeds rather than having one spouse burdened by the tax liability.

4. Stay on top of your cash flow.

Divorce can create a timing problem as much as an income problem. It’s crucial to map out your expected cash flow month by month, including one-time transition costs such as attorney fees, new furniture and moving expenses, which can add up before your long-term income has been settled.

We encourage clients to be conservative when projecting future income. If you expect to receive spousal support, consider what happens if payments are lower than expected or start later than expected. This exercise may uncover the need to adjust your lifestyle temporarily or tap the cash reserve you set aside (see Guideline #1) to bridge short-term gaps.

One client assumed their cash flow would be adequate once spousal support began. When we mapped it out month by month, we saw a gap: support wouldn’t begin for several months, while new housing costs and legal fees would hit immediately. Spotting that timing mismatch early allowed the client to use a cash reserve rather than take an unnecessary distribution from a retirement account.

5. Update your documents, including the ones you might overlook.

Divorce is a time to revisit the structures that protect your finances and the people you care about.

Start by reviewing your estate plan and beneficiary designations. Check that your will, power of attorney, retirement account and insurance beneficiaries and any trusts reflect your new reality and wishes. Our Trust, Estate and Fiduciary Strategists can assist clients through this process.

The non-financial documents that determine who can make decisions on your behalf also deserve attention. We once worked with a client who, months after completing their divorce, discovered that their former spouse was still listed as their health care agent and emergency contact. Nothing happened, but the discovery was a powerful reminder that divorce planning extends beyond dividing assets.

No two divorces are the same, and there is no single playbook for getting through one. But in our experience, consequential financial decisions are often made without stepping back to see the full picture. A little planning can provide a helpful roadmap when you need it most.