A decision to divorce raises a multitude of financial issues. Current and long-term cash flow needs, tax implications, marital and separate assets, and dividing the retirement accounts are just a few of the issues that need to be addressed. It is critical that both parties have a clear understanding of the financial picture today and into the future. Due to the complexity and the future impact for both spouses/partners, it is no wonder that financial negotiations are a major component of every divorce proceeding.

Divorce Financial Mediators have specialized training in helping couples navigate the financial maze from a position of knowledge and understanding. Divorce Financial Mediators work with the couple as a neutral financial expert. They do not advocate for either party – they work with both parties to compile all financial information, address all questions and concerns, and ensure you both have a clear understanding of your current and future financial situation. They help the parties identify and explore options and alternatives. They provide assistance in preparing the financial disclosures required by the courts (Assets & Debts FL-142 and Income & Expense FL-150). Divorce Financial Mediators help provide the information you need to make prudent decisions about your future.

Divorce Financial Mediators do not replace the need for an attorney. They provide a framework for you to make informed decisions and strongly recommend that the agreements reached in your financial mediation be reviewed by an attorney. An attorney will also be needed to draft your Marital Settlement Agreement which will incorporate the financial agreements you have mutually reached.

Using a Divorce Financial Mediator to help you address the financial issues of your divorce can reduce overall costs for four key reasons:

• Divorce Financial Mediators specialize in the complex financial issues of divorce and are able to address those issues more thoroughly and in less time.
• Divorce Financial Mediators eliminate duplication of efforts in preparing financial disclosures.
• Billing rates of Divorce Financial Mediators are generally less than an Attorney-Mediator.
• By focusing on the long-term, they help avoid costly mistakes in the future that could have been avoided with proper planning.