Asking for a Friend - I'm considering a a divorce - What things should I be thinking of?

Guest Post by: Amy Irvine, CFP®, EA, MPAS®, CCFC, CDFA®

Q.  I'm considering a divorce - what things should I be thinking of?

A. We understand that this is one of the most stressful situations you can find yourself in - it is a loss in your life, and we believe you need to take time to grieve that loss. There are a number of professionals you might want to reach out to for advice:

• Interview at least three attorney’s - pick the one you feel most comfortable sharing information with.

• Consider the type of divorce process you might want to explore.  Do you need to find a mediator, or will collaborative law be a better direction for you?

• Potentially work with a Certified Divorce Financial Analysis.  The role of a CDFA is to help clients and their attorney understand how the financial decisions will impact the client’s financial future.  On our team, that would be Amy Irvine.

• Perhaps a therapist should be part of your team as well.  Divorce is not easy, and it can be helpful to have someone to talk to.

It’s also important to get your documentation organized.  Put together a net worth statement and a cash flow statement.  This may help determine if you will be eligible for spousal or child support.

Understand that divorce is unique for everyone in some ways, so these are just a few tips to get your mind thinking.  We’ve also included a checklist on “What Issues Should I Consider During My Divorce” for your review.

Reach out to the Amy Irvine using the email [email protected] to receive a FREE copy of Uncork Your Finances when you mention Karen McMahon and Journey Beyond Divorce.