Financial Divorce Planning Tips

Financial Divorce Planning Tips

Five Reasons to Update Your Estate Plan During Divorce

There are so many things to think about and take care of during a divorce; some more important and urgent than others. Updating your estate plan should be considered a priority. The professionals working with you can assist you or refer you to someone else who specializes in estate planning.

The primary points to consider are:

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How Can a Divorce Financial Planner Help With Litigation?

Everyone knows the statistics. Approximately 2.2 million people get divorced in the United States each year, and virtually 100 percent of divorces involve some sort of financial settlement.

In many cases, people remain married because they fear the financial consequences of divorce more than they do the prospect of staying in a bad marriage. The recent economic downturn proves this point. The divorce rate in the United States decreased during the “great recession” and now that the economy is stabilizing, the number of people seeking divorce is increasing. The number of Americans getting divorced rose for the third year in a row to about 2.4 million in 2012, after plunging in the 18-month recession ended June 2009, according to U.S. Census Bureau data.

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Tagged in: CDFA litigation
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Is the Collaborative Law Process a Good Model for Your Divorce?

Collaborative law treats divorcing couples as if they have a series of issues to be resolved instead of a destructive war to be fought.

Good candidates for the collaborative law process share some of the same goals, including:

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Divorce mediation can be an affordable and non-confrontational way for a couple to divorce, but it is not the right process for everyone. When extenuating circumstances such as (but not limited to) alcoholism, spousal abuse or uncontrolled gambling are involved, the security that litigation through the courts can provide may be advised.

Couples who choose mediation and have the greatest success for a positive outcome have some relationship traits in common, including the ability to communicate and the mutual desire to part ways with the least amount of acrimony and blame. Divorce mediation means compromise, but if done properly can save divorcing couples a substantial amount of money and anguish.

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