Breaking up is always hard to do. But divorce—with its negotiations and financial pitfalls—is a whole other level. Here, By Jacqueline Newman
These days, however, more people are telling me, “OK, I took your advice and did not leave right away. But a year plus later, I still do not see this marriage working. What now?” In brief, Mediation involves the use of a neutral mediator who will help you and your spouse navigate divorce decisions together, often with an attorney assisting in the background. Collaborative Law utilizes a team of attorneys, a neutral financial expert, divorce coach and a child specialist to ensure you reach an agreement that works for everyone.
Often, people will meet attorneys they have heard about from their brother’s cousin’s neighbor. Meeting an attorney through a friend or family member can provide an understanding of this professional from an inside perspective. It is possible, however, that you do not know anyone who has gone through a divorce, or more likely, that you don't want others to know you are contemplating one yourself. In these cases, many people search the Internet to find divorce attorneys.
The most common questions that 98.7 percent of my potential clients ask are, “How much will this cost?” followed by, “How long will it take?” I often respond by saying, “If you can tell me how long it will take for you and your soon-to-be-ex to agree on terms, I can tell you how long and how much.” The fact is, it is almost impossible to answer those questions accurately at a first meeting.
When dealing with money, there are four financial categories to a divorce: asset distribution, spousal support, child support, and child-related extra expenses. The basic definitions are: Depending on where you live and your income/asset levels, there are various formulas that may address the categories above. One thing you need to be sure of when dealing with money is that you are as familiar as possible with your expenses.
Not every state demands an automatic 50/50 split of assets. While some states do automatically split assets equally, many do not , so check with your attorney about how your assets will be divided.
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