I have been a divorce attorney and mediator for over 35 years. I have successfully helped thousands of spouses through the most difficult times of their lives. I have helped them mediate, negotiate, and litigate.
Over this past turbulent year, I have educated and guided many individuals and couples on the mistakes to avoid when divorcing. I hope this information will help you.
My 4 mistakes to avoid while divorcing are as follows:
1.) NOT CONSIDERING MEDIATION:
If there is any chance you and your spouse can work together in an amicable way—consider mediation!
Mediation will save you time and thousands of dollars in legal fees, not to mention unnecessary heartache!
As a divorce attorney and mediator, I advocate for mediation because it really meets the needs of many of my clients who want a less adversarial path. As a mediator, I am not a judge, I am a legal guide. I help couples make important decisions about finances, maintenance, custody, support, and property division. I support productive conversations that result in a settlement both parties can live with.
As a divorcing couple you have flexibility with mediation. You get to make decisions in the best interest of your family. These decisions are yours, not that of a judge or an adversarial court system. Mediation puts YOU in charge of your divorce.
Consider it!
2.) NOT DEVELOPING AN ACCURATE BUDGET:
Living expenses are important. Be accurate when detailing your living expenses. If you don’t, you won’t be able to cover your bills and expenses after your divorce.
I recommend clients take a look at many aspects of living expenses by providing them with Statements of Net Worth as a great tool to think about expenses from large to small. In some cases, I recommend a financial planner to assist in developing a complete budget.
3.) NOT CONSIDERING THE IMPACT OF TAXES:
You have to consider tax implications on your divorce settlement. Sometimes I bring in a tax expert from my team to provide an overview of the tax ramifications.
4.) NOT EMOTIONALLY LETTING GO OF THE PAST:
When divorcing, letting go of emotional attachments to the house, an antique you purchased during the marriage, or your 401 (k) plan can be costly. Not being able to do so could impact good financial decision-making in your divorce negotiations. Negotiation is necessary to maximize your finances. Make sure you will have enough money for living expenses after your divorce. Choose wisely!
Really try to avoid mistakes while divorcing. Having the proper guidance to make these decisions is imperative. You are transitioning from being married to single. Two households are costly. You need help prioritizing, creating a plan, making sound financial decisions, and getting financially ready for the rest of your life.
If you are considering divorce, I can provide valuable legal, financial, and psychological insight.
Call to schedule your free consultation and to receive a complimentary Statement of Net Worth to get started on your budget so you can get financially organized for your divorce!
Our FREE 1 hour consultations are very informative and conveniently conducted virtually to reduce risk!
I look forward to speaking with you.
Stay healthy and safe!
Warm regards,
Lois
Call New York Divorce Attorney Lois Brenner now to schedule your FREE consultation!
212.734.1551