Financial Planning for Divorced Couples

Recovering financially after a divorce is a gradual process that requires careful planning and consideration throughout and after the separation journey.

When going through a collaborative divorce, involving a neutral financial mediator can be highly beneficial.

The collaborative process ensures financial privacy, fosters amicable agreements and allows for future planning. A financial divorce specialist can provide valuable insight into your pre- and post-divorce financial landscape, aiding both you and your spouse.

Here are key tips often shared by financial neutrals to facilitate financial recovery post-collaborative divorce:

• Prioritize debt repayment by tackling high-interest debts or smaller balances first
• Develop a post-divorce budget and retirement plan before finalizing the divorce settlement
• Avoid emotional spending and resist purchasing high-ticket items as a means of coping
• Focus on emotional healing and refrain from making major financial decisions in an emotionally charged state
• When undergoing the divorce process, ensure transparency and utilize a financial neutral to establish an amicable environment

Collaborative divorce, with a financial neutral’s involvement, proves advantageous for unraveling complex financial matters.

Reviewing the couple’s financial portfolio from a neutral standpoint fosters a shared understanding and promotes transparency. This approach allows for comprehensive financial discussions and ensures an equitable division of assets with creative solutions.

Remember, recovering financially after divorce takes time. Following these tips and engaging in a collaborative process can lay the foundation for a more secure financial future.

As an attorney specializing in family law, collaborative law, and mediation, I frequently witness a significant shift in couples’ mindsets when they realize the potential for win-win financial divisions. Unlike a litigated court divorce, the collaborative process encourages transparency and fosters a willingness to explore creative financing options.

At Campbell Family Law offices, Kathy Campbell helps her clients divorce differently because they deserve better choices in the outcome. She only works in the out-of-court processes of mediation, collaborative divorce, and collaborative mediation to provide clients the flexibility they need and want.

Contact Kathy today to see how she can help you and your spouse divorce amicably.

Note: This information is general in nature and should not be construed as legal/financial/tax/or mental health advice. You should work with your attorney, financial, mental or tax professional to determine what will work best for your situation.