Achieving financial goals is possible during divorce

| Dec 8, 2017 | Divorce

Achieving personal financial goals can be challenging at any stage of life, but it is especially challenging during the process of ending a marriage. However, the proper information can help to alleviate the financial stress associated with divorce. It can also help to speed up the process and lead to a personally beneficial outcome during a divorce proceeding in Massachusetts.

First, talking to a financial professional, such as a divorce financial analyst who is certified, may be expedient. This professional understands the complexities of various retirement plans, and he or she can also handle property division calculations along with the calculations of penalties and taxation. In addition, this type of analyst can help with tallying up assets and drafting a budget.

With a financial analyst, a spouse going through divorce may find it easier to be reasonable and calm when it comes to negotiating what he or she desires in the divorce. This is important because irrational thinking can lead to arguments that drag out the divorce proceeding, thus making it more financially costly in the end. In addition to handling negotiations rationally, signing the divorce decree only after fully understanding it is critical.

Getting a divorce can be a taxing process, but alternative processes to traditional divorce litigation, such as mediation, may make it more financially and emotionally palatable. Mediation is typically faster than going to trial and thus less costly, and it is also a less acrimonious process than going to court. An attorney in Massachusetts can provide guidance each step of the way to make sure that one’s best interests are protected during this type of family law proceeding.

Source: investopedia.com, “How to Achieve Financial Goals During a Divorce“, Rose Swanger, Nov. 22, 2017