When you find yourself starting down the road of divorce, it is understandable why emotions run high and new stressors occur rapidly. There are so many things that need to be considered, from child custody and support to dividing your financial landscape in two.
However, one thing is sure: don’t wait to learn that you made mistakes in your asset division after the smoke clears. It’s important that you and your spouse completely understand what is at stake by dividing your financial assets.
When you utilize the collaborative divorce process, you can be reassured that you and your partner are supported by a team of experts versed in family law and the divorce process. They will help you understand and find the best path forward while staying away from a long, drawn-out, and costly litigated court divorce.
Here are some suggestions that we share with our clients to help them successfully divide their assets fairly and amicably:
- Don’t let your emotions guide your asset division process
- If anytime you are feeling overwhelmed, pause to process everything before agreeing to it
- Don’t agree to anything for the sake of a speedy divorce
- Provide all the financial data – honesty is the best path forward
- View the division as a business transaction
It is important to utilize the financial neutral on your collaborative divorce team. They are financial professionals versed in dividing assets, drafting a financial plan and helping both clients to understand the long and short-term financial impact of divorce agreements.
A Better DivorceTM is an interdisciplinary group of professionals committed to non-court, non-confrontational solutions for family law matters.
Note: This information is general in nature and should not be construed as legal/financial/tax/or mental health advice. You should work with your attorney, financial, mental health or tax professional to determine what will work best for your situation.