As a divorce attorney/mediator for over thirty-five years, I’ve seen
many spouses make some bad divorce mistakes. Most of the time decisions
fueled by anger will not be in your best interest.
Please don’t do it!
I know you’re angry, frustrated and ready to cut loose, but don’t
you need a level head to make important financial decisions for your future
and that of your family?
I suggest you pause, take a breath, and think about your future. While
you are doing that,
here are some of my “divorce dont’s” that you might find helpful:
1. Don’t Be in the Dark About Finances
Know where the money is! If your spouse has handled the finance do some
searching. Start locating all your accounts. Make copies! You need to
look for bank account statements, checking account statements, brokerage
and retirement accounts, tax returns-at least the last 3 years, credit
card statements, life insurance policies, pension statements, and anything
that relates to your marital lifestyle. If your spouse uses or moves assets
without your knowledge, you may have to hire legal and forensic accounting
experts to help you locate and value the assets.
2. Don’t Provide an Inadequate Budget
When you are completing your Statement of Net Worth-fill your budget our
thoroughly. Spouses don’t realize the budget is a screenshot of
their marital lifestyle. Be complete and as detailed as possible. You
want to receive everything to which you are entitled.
3. Don’t Disregard the IRS
When a divorce is final, you may get taxed on the marital assets you have
received. It’s important to know the value of the asset you receive
on an after-tax basis. It’s smart to speak with a tax advisor along
the way so you are getting the best deal possible.
4. Don’t Passively Sign Your Separation Agreement
You will be living with it for a long time. Make sure your agreement includes
everything you need and want. There is rarely a redo. Don’t feel
pressured to sign an agreement that is not in alignment with your needs
and that of your family. If your divorce attorney or mediator is not listening
to your concerns, have another lawyer review your situation. You may decide
your current attorney needs to go!
5. Don’t Dismiss Mediation
If you and your spouse can work things out, keep your families’ money
in your own pocket. Mediation is a really special process. It can save
you many, many of thousands in legal fees and emotional distress.
The mediation involves a neutral third-party a divorce attorney/mediator
that will meet with you and your spouse to discuss all the issues and
help you reach an agreement. The mediator can be a skilled voice of reason
in your divorce process.
Mediation will give you the flexibility to discuss important issues affecting
your family and make the best decisions for a healthy way to move forward.
Mediation is a lot less stressful on you and your family. It allows you
to make decisions in a safe and compassionate environment with the support
of an experienced neutral person.
For over 35 years as a divorce attorney and mediator, I have been guiding
spouses successfully to find the right path to divorce. If you need help
with your divorce, I would be happy to show you all your options! Call me today!
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 Attorney Lois Brenner Now to schedule your FREE consultation!
212.734.1551
A few openings are still available for this week.