Fairway Divorce Solutions

We know that “money” can be one of the biggest stressors for a couple. So given the current state of the economy, are we going to see more divorces?

It is an interesting question and I believe the answer is going to be “yes.”   Those who have decided to get a divorce are going to and should do everything they can to do it in a way that does not further destroy their net worth. 

So here are a few tips:

1. Avoid the traditional model of hiring divorce attorneys to fight for your “rights.”  It ends up costing a lot and there are no guarantees that you will win or even be treated fairly.

2. Find a more proactive way to ensure you are treated fairly.  Research the alternatives and understand the process and strategy that each alternative follows.  Ask Questions and do not assume anything.  Know in advance what it will cost and how decisions are made

3. Do not put yourself in a position where you have to sell assets when the market is down, unless you absolutely have to.   Be creative about financial solutions.  Perhaps one of you lives with a friend or family member for a while until things turn around.

4. Work with a financial expert who can help you find a way to separate in a way that does not cause you even more stress around financial issues.

5. Do avoid liquidating your retirement funds.

6. Do a budget so you know what the “new” scenario will look like. If you fail to plan you will plan to fail!
7. Get advice from people who know what they are talking about.   Find out what you “need to hear” and not just “what you want to hear.”

8. Do not stay together just because you are afraid of leaving.  Of course save your marriage if at all possible but assuming you cannot and have done everything you can to save it, then do not procrastinate.   Procrastination will kill your faith and your spirit which will result in anger and more fear. 

9. Trust that everything will work out and guess what - it will. That is a universal promise.