It’s no secret that going through a divorce can be expensive – but there are ways you can possibly save money along the way.
One of them is being prepared for your first meeting with your divorce attorney; if you are organized and provide your divorce attorney with concise and complete information, you might save yourself some money and extra headaches.
Here are some tips on how to prepare for your first meeting with divorce attorney.
Be prepared to discuss your marital problems with your divorce attorney but keep it concise and honest.
- The longer you talk about the lies, affairs and financial disagreements that ended your marriage, the longer your meeting will take and the more it will distract from the legal aspects and business transaction of your divorce proceedings. Talk to your mental health professional if you need a more emotional connection. Talk to your financial expert if you need assistance understanding the family finances and planning for your future. Do your best to simply state why, in your honest opinion, your marriage has come to an end.
- Romantic infidelity?
- Financial infidelity?
- Financial Disagreements?
- Life review?
- No longer in Love?
Have an idea of what you want to get out of the divorce proceedings financially.
- If you do not know what you want, Cross Roads Divorce Advisors can build a plan for your financial future and communicate the results with powerful analysis and reports.
- Some examples
- Keep the House – Can you afford it?
- Financial Security – What does this mean to you?
- Long term spousal support
- Not to go back to work
- Children’s college education paid for
- Financial autonomy
- Purchase a new home
You should bring the following information to your first meeting:
- Family information, including the names and birth dates for yourself, your spouse, and your children
- The date and place where you were married
- Current employment information for you and your spouse
- An estimate of financial status including
- Income (current pay-stubs and last three years tax returns would be best)
- Expenses (if you have a budget bring it, if not let us know and we can help you prepare one)
- Assets and Debts (account statements for mortgage, 401K, brokerage accounts, bank accounts, credit cards)
We suggest meeting with Cross Roads Divorce Advisors before or immediately after your first meeting with divorce attorney. We will help you put together a complete and detailed picture of your family finances before the attorney heads down the path of expensive formal discovery. We can also help you choose the right attorney and divorce process if you do not yet have one.
This information is not intended to be a substitute for individualized legal advice. Please consult your legal advisor regarding your specific situation.
Lou Falvo is a Certified Divorce Financial Analyst® and CIMA® (Certified Investment Management Analyst) who assists clients by evaluating the tax and financial aspects of divorce. Lou is dedicated to reducing the burden of each client by thoroughly examining the financial elements of the client’s divorce, with a keen focus on what is in his or her best interests. Contact Lou to find out how he can assist you with your divorce proceedings at lfalvo@crossroadsdivorce.com or (585) 542-2382.