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1. NOT HAVING THE RIGHT MINDSET
•Have a NEGOTIATION mindset to settle & don’t fight over small items
•Learn about your financial situation & move forward; don’t blame & look at the past
•Empower yourself with knowledge & resist the temptation to play the victim; Be decisive!!
•Educate yourself on what’s yours, don’t take less just to keep the peace
•This is your divorce, make decisions that are best for you & your family
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2. NOT GETTING ACCURATE ADVICE EARLY
•Don’t hesitate; get recommendations from someone you trust
•Hire an attorney for legal advice as part of a TEAM - cooperative, not the bulldog!
•Hire a therapist for your family
•Most of divorce is financial, not legal! Protect yourself by having an experienced, financial professional on your team
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3. NOT REALIZING YOUR FUTURE FINANCIAL REALITY
•You need to understand your income & financial reality –what do you have now & will you have enough in the future? (Using the traditional divorce models, this is NOT considered)
•Working with us means no surprises later!
•We will stay with you AFTER divorce to help you work through the details of your agreement
It is not the role of your attorney to help you make wise financial decisions in divorce. At The Financial Knot, we show you how decisions during divorce can impact your future!
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Child Support
•If child support does not cover all your kids’ expenses, do you know what will?
•What specific language might you need in your agreement to make sure some of these costs are shared?
•Does the language consider changes that may occur over time?
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Spousal Support
•In most states, spousal support is not mandated by guidelines
•The current law is alimony is non-taxable to the recipient & non- deductible for the payor
•Most heavily-weighted factors are one spouse’s need & the other’s ability to pay! Do your financials support this?
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Insurance & Support
•What happens if the payer dies or becomes disabled?
•Are the spousal support payments secured?
•Are they insured for the correct amount?
•We can determine how much life & disability insurance your attorney needs to ask for to protect your future support!