Divorcing in a Tough Economy

Author: Margot Swann, Executive Director, Visions Anew

The most important thing to remember is that you should not divorce alone. No one can know everything she or he needs to know to divorce. That’s why I always recommend using a team approach.

Your attorney knows the legal aspects of divorcing, how to negotiate, the judges, the other attorneys, the process, and the traditional ebb and flow.

For the financial aspect of the divorce, however, consider consulting with a CPA, Financial Planner, Forensic Accountant, Certified Divorce Financial Analyst, or Financial Advisor. These are number savvy folks who usually cost much less per hour than your attorney, and who know so much more about the money.

If you are concerned about the equity in your home or your credit, talk to a mortgage broker. Mortgage brokers have their fingers on the pulse of borrowed money.

If you are concerned about health insurance, and who isn’t these days, consult with an insurance broker. Don’t make the mistake of relying on COBRA unless you have no choice. If you would like to insure alimony or child support, an insurance broker can give good advice about who should own the policies.

ALWAYS have a therapist or pastoral counselor to help you process your emotions. Never let your emotions cloud the business of the divorce. Having a therapist prevents you from subconsciously seeking emotional support from your expensive attorney or financial advisor.

You don’t have to know it all, but you do need to know what you don’t know – before it’s too late. Be the CEO of your divorce.

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