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Whether you choose to litigate, mediate, collaborate, or do it on your own (pro se) it is important to keep your emotions out of the decision making process, especially when solving financial issues.
Once you or your spouse make the decision to move forward with the divorce proceedings, you’ve entered the second and potentially most intense phase of the divorce. This phase ends around the time the decree and settlement are signed.
You need to work through this phase like a business partner deciding to split or terminate a business. Decisions based on emotions can result in much higher expenses and the process could be drawn out unnecessarily.
How Colorado Divorce Financial Experts can help during your divorce:
Services
Estimate extraordinary expenses for your children
Estimate the need for or ability to pay spousal maintenance (alimony)
Calculate value of marital versus separate property of IRA, 401K & pension accounts
Assist in developing a complete Financial Affidavit if needed
Educate you on the tax implications of splitting various assets, investments, pension plans, and other property
Make recommendations for the division of marital property
Develop alternate settlement proposals that meet your objectives
Generate creative settlement solutions for special needs
Analyze proposed settlement’s effect on cash flow, investments, retirement, and net worth by analyzing cash flow and net worth projections for 10 to 30 years AFTER the divorce
Calculate appropriate amounts of life insurance to guarantee support payments
Assist in preparation of exhibits for trial
Serve as an expert witness on your behalf on issues of personal lifestyle, cash flow needs, and workability of settlement
Research and review preliminary Qualified Domestic Relations Order(s)
Benefits
Ensure your cash flow will be sufficient to cover immediate and long-term needs for you and your children
Increase your long-term financial security by making sure you aren’t on a path to consume all of your assets earlier than expected
Help you understand, evaluate and negotiate settlement proposals
Maximize your net worth by minimizing taxes through the efficient allocation of personal and real estate tax deductions
Protect the needs of your children, especially if they have special needs
Potentially lower legal and professional fees by expediting the settlement process and minimizing the need for expensive court procedures
Ensure the legal documents (QDRO, Property Settlement, Divorce Decree) have the appropriate wording and are validated by the right people so you gain the control you expect over assets, accounts, pension plans, and other property