Preparing to Negotiate a Divorce Property Settlement

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Individuals going into a divorce property division negotiation rarely understand how just a few details can have a substantial financial affect on their future. You can avoid bad luck by having a strong grasp on the nuances of property division. The quickest and most efficient way to get this knowledge is to work with a divorce financial adviser.

  • Be sure you hire one who is also a CPA. The income tax issues can be complex.
  • Look for a CPA who also holds a CDFA – Certified Divorce Financial Analyst because they specialize in divorce financial issues.
  • Tell your adviser everything about your property. If you are not a divorce expert yourself, you are not going to know which details are critical and which are not.
  • Ask your divorce financial adviser to work up a couple of property division scenarios. You need to see how various options affect your financial outcome.
  • Know that during negotiations you will need to compromise on something. Talk with your adviser about the effects of giving up on this or that option. Take notes.
  • Familiarize yourself with the mediation process.

Accountants Provide Financial Peace of Mind

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           Divorcing couples struggle with the complex financial issues that come with their divorce. I find that most people who are going through a divorce are unaware of key bits of information that relate to their own financial situation. Failure to fully understand these details leads to major challenges in the divorce process […]

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Your Ex Can Read Your Cell Phone Records When You …

  Divorcing spouses with free cell phones in family businesses struggle with keeping cell phone records private. If this is you, eliminate the risk of snooping ex-spouses by moving your cell phone service to an individual plan. You may be sorely tempted to keep the business phone and save money, but about the emotional cost […]

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How much will this divorce cost?

I hear questions from people who come to me for divorce financial advice. No matter whether we are talking about College Station or Houston, the answer is always “it depends.” It depends upon which divorce process you choose. Do it yourself, litigation, mediation or collaborative. Even the do it yourself can be expensive if you […]

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Divorce and Heirs

  Texas law will take care of a Will that you executed before divorce, but not contracts, advises Randy Michel, College Station divorce and estate planning attorney. This means that the intended heirs of your retirement accounts are not affected by what you write in your Will. Your retirement accounts are contracts. You scribbled down […]

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