Divorce is a time where the two parties are scrambling to mark the assets that they want. They will fight tooth and nail to obtain it. Their mission becomes saving themselves from financial hell. They don’t have to fight with each other to get the assets they want. They can save themselves from financial failure if they do the following things before the divorce proceedings through divorce mediation or litigation begins:
- Negotiate an Equitable Settlement
Most of people think that equitable means 50/50? However, does it always mean that? In some cases, it means the total opposite, as the other person may get away with getting more than you. This means you have to secure your chances of getting a fair division of assets in return after the divorce to secure your financial future currently and down the line.
In order to play it safe, you need to talk to a Certified Divorce Financial Analyst to talk to you through the process, advising you on what he or she deems as a fair ruling between two divorcing partners. With that information in hand, present your needs to your partner during your divorce mediation session.
- Save Money
You don’t want to overspend on things, but save money instead. You can consult a financial advisor to assist you in establishing a doable budget for the month.
- Think About Whether You Can Really Keep Your Home
If your partner is willing to give you the home, you should talk with a financial advisor so he or she can tell you if you can realistically afford it or not.
- You Won’t Get Everything Your Desire
Do you plan to fight with your soon-to-be ex-partner down to every last penny? If you do, you will be spending a lot of time in court fighting over things like who gets the furniture or the dishes. These types of things are not worth it. If you really want to argue over these things, do it during divorce mediation, as it’s a better choice to vent your concerns in a more casual environment.
- You Should Protect Your Retirement Assets
A Qualified Domestic Relations Order should be stated as a requirement in your divorce judgment to divide retirement assets properly, and should be filed immediately after you complete your divorce.
- Don’t Use Your Debt Card too Much
You and your spouse need to eventually close all the accounts that you and your partner opened up together. Most importantly, don’t forget to get a copy of your credit card statement.
Gerald A. Maggio is a trained Orange County divorce mediator who has amicably resolved cases many cases out of court, as well as an experienced divorce and family law attorney. Mr. Maggio founded California Divorce Mediators in 2012 with the belief that although “not every marriage can be saved, every family can” and a mission to save families from the financial and emotional distress associated with traditional divorce litigation. California Divorce Mediators is located in Irvine, California, and serves the Orange County area and other counties in California offering divorce mediation, child custody mediation and mediation of other family law matters.
When two people are at odds with each other, minor problems start to seem huge. When discussions and solutions no longer extinguish the fire, people turn to divorce. There are many different approaches people can take in terms of divorce, with divorce mediation being the most simple, fast, and effective one. If you and your partner have agreed on separating via divorce mediation, here are the questions that you may want to address before proceeding:
1. What Can You Expect during Divorce Mediation?
A divorce mediation procedure consists of the married couple sitting down in a secluded room with their chosen divorce mediator. The divorce mediator, with the consent and involvement of the divorcing partners, works to resolution of all pending issues with the end goal of creating a comprehensive settlement agreement. Divorce mediation is based on mutual agreement on unresolved issues. Therefore, partners need to remain civil when arriving at solutions.
2. Will You Also Need An Attorney?
Many people think that if they are seeking the aid of a divorce mediator, they will not require the services of a divorce attorney. Either during or after a divorce mediator session, you have the right to hire a divorce attorney to help you go over the agreement and spot any irregularities in it, but that is entirely up to you. The attorney may also provide you with valid points to cover in the settlement agreement. If the divorce mediator that you are using is also a divorce attorney, which will help assure that the agreement is drafted correctly.
3. What is the Skill Level of the Divorce Mediator?
The law in most states does not require divorce mediators to hold a law degree. Therefore, when choosing a divorce mediator, be sure to find someone whose is experienced in dealing with two partners who want a calmer and more peaceful process to end their marriage. Another thing to consider when looking for a divorce mediator is to find one who is also a divorce/family law attorney, as they have knowledge of the law and real-life experience with divorce cases that he or she can draw from in working with you to come up with workable solutions.
4. What Issues Are Addressed during Divorce Mediation?
Just like in any other divorce proceedings, a number of issues can be resolved. Some issues that are addressed during the meetings include child support, child custody, division of assets, and spousal support. Unlike in court where these issues would have created tension between the two parties, divorce mediation offers an alternate solution to calling it quits.
5. Do You Need to Have Extensive Knowledge about Finances?
Individuals worry that their lack of knowledge in finances may lead to the other partner getting more in the settlement agreement. Some individuals can fret over the financial assets that the other person may have hidden. Your divorce mediator can assist you in addressing those issues for both of you and explaining the financial ramifications. If you want further information to determine for yourself as to whether the financial terms of your marital settlement agreement are in your best interests, you can consult a Certified Divorce Financial Analyst. The CDFA will update you on your current financial situation and inform you what you may need to keep track of in the future. With the knowledge they can provide you with, you can proceed with divorce mediation with more confidence that you are working out your divorce case in a way that makes the most financial sense for you.
If you are planning to go through with divorce mediation proceedings, and you are located in Orange County or anywhere else in California, you should seek the assistance of a reliable California divorce mediator. For further information or to schedule a consultation with California Divorce Mediators, please call (949) 553-0911 or visit www.cadivorcemediators.com. California Divorce Mediators is an experienced Orange County Divorce Mediation and Family Law firm serving the Orange County and Riverside areas and neighboring counties, serving individuals, couples and families with legal issues including divorce, legal separation, spousal support, child support and child custody issues. As Orange County divorce mediators and Orange County divorce lawyers, we have the experience to help you decide if divorce mediation is a good option for you and your situation.
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