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Divorce and Your Money - #1 Divorce Podcast

Visit us at www.DivorceAndYourMoney.com Divorce and Your Money is your guide to avoiding costly mistakes during divorce. Shawn Leamon, Certified Divorce Financial Analyst and MBA, wants to help you learn the fundamentals of how to get a divorce. Whether you are looking for an uncontested divorce, a do it yourself divorce, or an online divorce, resources are available to offer guidance. Through his divorce podcast and divorce blog, Shawn offers his professional opinion on the best ways to handle the end of your marriage. He covers topics including how to file for divorce, divorcing a narcissist, and finding the best divorce attorney. Even tricky subjects such as a “what is a QDRO?” and “is alimony taxable?” are tackled through these venues. If you need to know what the first steps are or what you should do to head to trial during litigation, you can find resources to give you a step-by-step guide to what comes next. Think of his advice as an alternative to divorce support groups where you can find exactly what you need when you need it. He offers one-on-one divorce coaching to give you a solid grasp on the decisions that are bound to affect your financial future. Before you have a divorce decree in hand, you will likely go through some type of divorce mediation. For any spouse saying, “I want a divorce,” you need to make sure that you are getting the financial future you are entitled to. Do not allow yourself to be blinded by the emotional, legal, and financial burden that divorce can become. Instead, take control of your situation with sage wisdom to help all individuals make better financial decisions for their independent future. If you find yourself asking “where are the best divorce lawyers near me?”, Shawn can help you to recognize the best of the best. Whether you need a divorce in Texas, a divorce in Florida, or a divorce in New York, you will have all the knowledge you need to find the best team of professionals to assist you. You can start from a place of being legally separated or once you have already started to file for divorce using free divorce papers or an attorney. No matter where you or your marriage may be in the process, Shawn Leamon has professional advice to offer your unique situation. A simple no fault divorce or a high-stakes power struggle are all areas he has vast experience with during his work outside of Divorce and Your Money. Let his advice be a guide to help you get all that you need for a secure financial future in your divorce records. It will not make a difference whether you are getting a divorce in Ohio or a divorce in California if you are following the basic principles set out through Divorce and Your Money’s divorce blog, divorce podcast, and divorce coaching.
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May 3, 2017

This article was originally published on Divorce and Your Money here.

Divorce Mediation Tips

Some couples find that mediation is a useful way to get divorced. Mediation involves hiring a neutral third party (such as a retired judge) who will negotiate the divorce or help you resolve specific issues of contention. Both you and your spouse must agree to use a mediator, but any agreements made are strictly nonbinding.

The biggest advantage of mediation is that it can be a quick, less formal method of getting divorced because court dates and litigation are not involved. It can also help minimize certain issues and acrimony on both sides.

The nonbinding element of mediation is a double-edged sword, as it can sometimes be a waste of time and money. Another disadvantage is that it is not appropriate in all cases. For instance, if you and your spouse have serious issues, mediation may not be the right path for you.

However, you should be aware that mediation will likely save you money. It is an efficient way to navigate the divorce process, and it does not involve a lot of court paperwork. It is not as public as other options, and it does not bind you.

Divorce Mediation Checklist

1) List the Property to be Divided

To start, you need to understand which assets need to be divided. If you do not have a clean understanding of everything you own, you will end up getting less than you deserve during the divorce process. Consider the following:

  • Bank, Investment, and Retirement Account Balances
  • Marital Home
    • Purchase Date
    • Mortgage and Loan Information
    • Appraisal and Valuation Information
  • Other Home(s) Information
  • Vehicle Data
    • Purchase Date
    • Estimated Value (Kelly Blue Book or similar)
    • Insurance Information
  • Personal Property of Value (including jewelry, artwork, collection, and antiques)
  • Insurance Policy Information
  • Any Other Assets or Debts That May Need Division (such as student loans)

2) What to Ask For during Divorce Mediation

Once you know what property you have, the next question is: what are your goals? What do you want to achieve when mediation is over? Do you want to keep the house, or sell it and split the proceeds? Who will have primary custody of the children? You should make a thorough list of what you want. BE REALISTIC. Then rank your priorities in order.

  • Define Your Goals
    • What is essential?
    • What things can you live without?
    • What is on your wish list?
  • Consider the Goals of Your Soon-to-be Ex
    • What do you think they care about most?
    • Do you have areas you will probably agree upon?
    • What areas will likely cause conflict?
  • Prioritize
    • What is most important to you?
    • What is an acceptable outcome?
    • What do you not care about very much?

3) Learn Your Local Laws

To understand if your goals are realistic, you must comprehend what you may be entitled to.

Ask yourself the following questions:

  • What are the state and county laws that govern your divorce? 
  • Are you in a community property or equitable distribution state? 
  • Should you expect to pay or receive a specific amount of child or spousal support
  • How does the state resolve custody?

Preparation Is Key to Success during Mediation

Mediation has the potential to resolve all the major issues in your divorce, but it can also be fruitless. While there is no guarantee of success, one way to guarantee a difficult mediation process is failing to prepare. You should also check out the Divorce Checklist to help you through the mediation process. 

Find this information helpful? Share it!

Shawn Leamon, MBA, CDFA is author of Divorce and Your Money: The No-Nonsense Guide and host of the Divorce and Your Money Show on iTunes. Learn more at  www.divorceandyourmoney.com.

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