Finances in Divorce
When considering a divorce, it is common to have questions about the impact such a decision will have on your finances. In a Collaborative divorce, there are experts who will help you gather the information you need to make decisions about money and your financial future. This is true whether you’re worried about how to separate the assets and debt, how to support two households, or how to plan for your future and how to plan for your children’s future.
Collaborative Practice’s neutral financial specialists work with you to resolve your concerns around money and divorce. They are trained and licensed in their own financial field and they are also skilled at working with the other members of your Collaborative team (attorneys and mental health providers) to help your family meet its goals.
There are two main financial areas addressed in divorce: property division and cash flow. Property division involves accounting for and dividing up all assets and liabilities, including real estate, businesses, bank accounts and investments, retirement assets, personal property, automobiles, and all debts. Cash flow includes child support, spousal maintenance and other expense sharing options that help support two homes.
Contact a collaborative professional to learn more about how you can work with your Collaborative team to explore creative options and make decisions that meet your individual and family’s financial goals.