Financial Fair Play in Divorce

For most people divorce is one of the most stressful events of their lives. During this time of emotional and financial chaos, decisions will be made that have long term consequences.

It's difficult to look into the future, but that is precisely what needs to happen especially when children are involved. Both parties should carefully evaluate all alternatives, looking through the long lens of time because what's done today will create tomorrow.

Whether you decide to use Collaborative Divorce, mediation or to use attorneys; whether you are leaving or being left; whether you have children or you do not, you will need to assess your present financial condition and determine how you will manage in the future.

Knowing all about your finances and actively evaluating alternatives will put you in a better position to negotiate your divorce settlement and to plan your future.

The First Step

If you don't have any idea what your income, expenses, assets and liabilities are, you will have to find out and the sooner the better. When one person in the marriage has had total control of the family finances it can put the other person at a great disadvantage.

If you are the one who doesn't know, you should immediately gather all the information you can. "Fair" is a subjective word that is often used when discussing divorce. A settlement is never fair unless both parties are informed and equipped to negotiate.

The person who initiates the divorce has often already thought through what they believe would be a fair settlement. The person who is not the initiator may have some catching up to do. Pressuring the non-initiator to settle before they have had an equal opportunity to assess their future is not fair. It will only increase legal expenses and acrimony.

Assistance with paperwork

If you do not have experience in financial matters or you want to assess the fairness of a proposed settlement, you may want to use the services of a Certified Divorce Financial Analyst. You do not need to go through your divorce alone. CDFA's have had the experience of working through the financial matters of many divorces.

Look forward to tomorrow by planning today

Certified Divorce Financial Analysts have special training in helping people understand their financial alternatives and assisting them in negotiating and creating equitable settlements.

CDFA's can help their clients be an active participant in the settlement process and in planning their future. Certified Divorce Financial Analysts do not replace the need for an attorney, but have experience working with mediators and attorneys, and they help clients to understand the system and the process of divorce.