Cash Flow Planning for Life - Helping you reach your personal & professional financial goals.

Cash Flow Planning for Life

Helping you reach your personal & professional financial goals.

13: Advice When Going Through a Divorce

Posted by Mark On May 15th

The most important part and most difficult part of going through a divorce is trying to keep the emotion and anger out of the process.

Going Through a Divorce

You are both going to lose. The only party that wins in a nasty divorce is the attorneys. The more anger and emotion are involved, the higher the cost goes. I have been involved in cases with average, everyday people with gross incomes of less than $100,000, who end up spending $60,000 to $80,000 in professional fees. Where does that money come from? Both parties usually incur debt, or it is taken from money saved for the children.

By no means am I saying this is easy. Each situation is different. But, when it is all said and done, both parties will have to give, and will have settled for less than they thought they would. Paying attorneys and accountants to fight over numbers will not solve your case. The two spouses will ultimately make the final decision to accept an offer or not. Professionals will not make that decision for you. So, the best advise I can give is to get a fair deal when going through a divorce and move forward.

Going to trial is very time consuming and costly, so limit the time your attorney speaks to your spouse’s attorney. Communicate with your soon to be ex, and schedule a mediation as soon as possible. I make this sound easy, and I know from experience it is not. However, the more the two spouses can communicate, with or without mediation, the faster the two of you will get this process completed.Divorce

One other thing, which I consider to be an important aspect of completing the divorce process, is don’t be greedy. As I mentioned above, both of you will lose and neither will get out of the marriage without a scar or two. However, both of you can avoid leaving with even more scars because of greed. It is not worth the time or cost.

I hope after reading my eBook you have come away with a few tips to help you while you are going through a divorce. No matter how hard it seems, communication with your ex-spouse on important issues, and keeping greed out of the process will go a long way in settling your divorce.

Interested in finding out more about the divorce process and your rights in the state of Florida? Download my FREE eBook: “Divorce. What You Need to Think About from a Financial Perspective.

Looking for a Fort Myers accountant?  Call me at (239) 384-9688 (Naples) or (239) 768-5008 in (Fort Myers), or contact me online. Follow me on LinkedIn and Twitter, and LIKE me on Facebook.

– Mark

This information is based on facts, assumptions and representations as stated and authorities that are subject to change. We will not update this information for subsequent legislative or administrative changes of future judicial interpretations.
LEGAL NOTICE AND DISCLAIMER: The information within this blog is for informational and educational purposes only and is not tax advice and should not be used as such. The facts of each individual situation can have significantly different outcomes when applying tax law. The hiring of a CPA is an important decision not to be based solely on advertisements.

 

 

 

 

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