The financial element of divorce is one of the most important parts of the process.
It is often the most stressful part of the process according to many experienced divorce attorneys who have helped countless couples through it.
Responsible for much of the worry, emotional distress, and hard feelings associated with ending a marriage, divorce lawyers stress the need for making financial planning a part of your divorce process to avoid problems in the future.
Financial Decisions Are Highly Important In A Divorce
While there is no doubt that getting divorced is an emotionally painful time, much of the negative emotions associated with it are due to finances.
Divorce mediation attorneys find that fear of finances stability, questions about the financial future, and arguing about who gets what regarding current wealth are all huge stress factors when negotiating a divorce.
It can cause so much stress that some spouses would rather ignore the financial part of the divorce and either skip planning for the future or fail to negotiate fairly for their own benefit.
Any lack of ability to accept the divorce or its financial aspect can be detrimental to either or both spouses as well as any family member who may be connected to them like children or even parents.
Mediation Helps Spouses Look At Their Financial Situation
A divorce mediation lawyer can be an invaluable asset for all couples, as mediation is an effective way to identify financial issues and amicably deal with them.
Trained in the art of divorce mediation, attorneys who have special mediation training understand the reasons why some spouses try to skip over the financial planning part of the divorce and in turn gently approach the discussion in ways that can lead to successful negotiation.
Most importantly, it gives divorcing spouses the opportunity to discuss finances guided by an experienced mediator and come to their own decisions as opposed to being forced to accept the choices of a judge during litigation.
Mediation leaves important financial decisions in the hands of the spouses, which is always preferable.
Mediation Can Help Divorcing Spouses Make Good Decisions
Financial planning and property distribution done through discussion with a divorce mediation attorney can help ensure that both spouses understand their present financial position and how any decisions made will affect them both in the future.
Such discussions could also involve an actual financial planning professional, if necessary.
For couples to make correct decisions at the time of their divorce, spouses and mediation lawyers should discuss the distribution of assets as well as topics such as taxes, long-term budgeting, investments, and more.
Decisions that are carefully weighed before making them are essential to ensure that each spouse leaves the marriage with what they are entitled to as well as an accurate image of what their personal financial future will be like once the divorce is final.
The Value of A Skilled Divorce Mediation Attorney
As undesirable as it might be to talk about finances in the middle of an emotionally-charged life event such as a divorce, it is essential that spouses do so, preferably with the help of an experienced divorce mediation lawyer.
Through controlled discussion and a willingness to accept the situation, couples can make the right decisions for their individual futures in a highly productive way.
Divorce attorneys find that much of the fear of what is yet to come can be alleviated when spouses understand the important financial issues and make well-planned decisions to protect themselves moving ahead.
Even in a divorce, financial planning is a critical step that can pave the way for a bright, new future for everyone involved.
Schreier & Housewirth Family Law
1800 West Bowie Street, Suite 200-E
Fort Worth TX 76110
Gregory L. Housewirth is a Board-Certified Family Law Specialist practicing in Fort Worth Texas. With 30 years of family law experience, Mr. Housewirth has represented hundreds of clients in divorce, custody, CPS, modification, and grandparent cases. In addition, Mr. Housewirth is a qualified family law mediator and a member of Collaborative Law Texas, a practice group dedicated to promoting collaborative divorce in Texas.