Frequently Asked Questions and Answers
You probably have many questions regarding financial issues; and, as you’ve probably already discovered, there are no simple answers. In fact, every suggestion seems to lead to yet another question. During a divorce everyone’s financial needs are different. That’s why you’ll need someone to help you through treacherous financial waters. Learn the answers to some of the most frequently asked questions we hear on a daily basis.
Do I need a Divorce Financial Specialist?
If you have concerns about your present or future financial needs, about your children’s financial well being and education, about the most equitable ways to divide up your assets, about taxes, health insurance or the value of your personal residence, you will benefit from working with a Divorce Financial Planner.
Why should I work with a Divorce Financial Specialist?
Working with a qualified Divorce Financial Planner can save you time and money and give you peace of mind. You will have a financial expert in your corner to help you understand and plan for the immediate and long-term impact of proposals being considered and help you avoid costly financial mistakes.
When should I talk with a Divorce Financial Specialist?
Identifying your financial concerns, goals and objectives at the beginning stage of the process will assure that your needs are an integrated into the settlement process. Many attorneys recommend that their clients work with a Divorce Financial Planner as soon as divorce is considered.
How do you collect the financial data required?
At the beginning of the process, will provide you will with checklists and data forms to guide you through the process of gathering all of the documents and information required.
Do I still need an attorney?
Yes. We are not attorneys and can’t give you legal advice. An attorney advocates for your legal interests, provides legal advice, reviews all agreements before your final approval and assures that all of the required legal documents are filed. Your attorney will inform you of your legal rights and obligations and can tell you what may happen in court if you choose not to proceed in cooperatively. A Divorce Financial Planner works with your attorney to help assess all of the financial issues.
How do you charge for your services?
We typically charge an hourly rate. For Divorce Financial Mediation we also offer a flat fee program. Please contact us for more information about our rates and the services we provide.
What happens if we are not able to reach a settlement?
An agreement can be prepared related to all of the settled issues and the parties can either litigate the remaining issues or seek further assistance to reach a final agreement.
Are communications in Mediation and Collaborative Divorce confidential?
Written and oral communications during mediation are confidential and the parties agree those communications will not be admissible in court. The Collaborative Divorce Agreement states that neither attorney can represent their client in court in any litigated proceeding against the other. Furthermore, any report or other work prepared by any person retained by either party is inadmissible as evidence in any proceeding involving these parties unless the parties agree otherwise in writing. The person(s) preparing the report or other work product, is forever disqualified from appearing as a witness for either party.