Divorce can be one of the most challenging experiences in a person’s life, both emotionally and financially. As individuals navigate the complexities of separating lives, making financial security a priority becomes essential. Recently, I spoke with a financial professional who often advises clients going through divorce. He emphasized that securing one’s financial future is paramount during this difficult time.
So, how does a divorcing party secure their financial future? Here are the steps I suggest:
- Choose the Right Divorce Approach:
Opt for Collaborative Divorce or Mediation over litigation, which can be costly and contentious. These approaches facilitate a more amicable resolution. - Select an Experienced Mediator or Collaborative Attorney:
Seek recommendations from trusted individuals, check social media reviews, and conduct interviews to ensure they prioritize your financial stability. - Involve a Team of Professionals:
The mediator or Collaborative Divorce attorney may work with a team of divorce professionals depending on the incomes and the size of the marital property, including real estate, retirement benefits, and investments. Where appropriate, using neutrals will save time and money. They include, but are not limited to:- Financial Neutral: Helps identify all assets and craft a comprehensive and sustainable financial plan.
- Facilitator Neutral: Ensures that emotional challenges do not impede the legal process.
- Mortgage Specialist: Assists in exploring financing options to help maintain stability post-divorce.
- Tax Professional: Aids in minimizing tax liabilities related to asset division.
- Estate Planner: Ensures your wishes are respected regarding asset distribution after your passing.
While it may appear that involving neutrals adds cost, they will actually save you time and money in the long run.
Anthony C. Adamopoulos
Divorce Mediator & Certified Collaborative Attorney
Available Statewide by Zoom
Location: Topsfield, MA
Email: acaboston@aol.com
Phone: (978) 744-9591
