Financial Mistakes Men and Women Make When Getting Divorced

Men and women often make financial mistakes when getting divorced. Learn what they are and how to avoid them. San Diego Collaborative Divorce information 858-472-4022

Men and women often make financial mistakes when getting divorced. Learn what they are and how to avoid them. San Diego Collaborative Divorce information 858-472-4022

Under the emotional stress of a divorce, it can be difficult to make decisions, especially when they involved financial matters. There are several common mistakes that occur. Some are made by the person who is the primary breadwinner, often the husband. There are different common mistakes made by the person who makes less money, or who is the primary parent, often the wife.

Justin Reckers, CFP, CDFA, financial professional and President of the Collaborative Family Law Group of San Diego, offers his advice on financial decision-making during divorce in two new informative articles in Investment News:

5 Financial Mistakes Divorcing Men Make

5 Financial Mistakes Divorcing Women Make

One of the worst decisions both women and men make: hiring a “killer” divorce attorney who will “fight” for them. Starting your divorce process on a contentious track means that all of your discussions about children, dividing assets and the transition from being married to being divorced become more challenging. It often takes a lot longer, and costs a lot more.

The Collaborative Divorce approach avoids the stress and expense of a litigated divorce, and results in healthier long-term outcomes. Contact the Collaborative Family Law Group of San Diego at 858-472-4022 or attend one of our Divorce Options workshops to learn more.

 

What Is A Divorce Coach – and Do I Need One?

A Divorce Coach can help couples maintain caring and respect through the process to help the entire family move forward in a healthy way. Photo: Josh Kenzer, Creative Commons license

A Divorce Coach can help couples maintain caring and respect through the process to help the entire family move forward in a healthy way. Photo: Josh Kenzer, Creative Commons license

by Lynn Waldman, LCSW, and Tina Mears, LMFT

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Lynn Waldman, LCSW

Couples starting the Collaborative Divorce process understand they will be working with family law attorneys to help facilitate the legal requirements. They also recognize the advantages of working with a neutral financial professional such as a Certified Financial Planner or Certified Divorce Analyst, especially when there are important assets or property involved as part of the financial settlement.

But some couples don’t initially think they need a divorce coach. They say, “Well, we get along fine and we don’t need help,” or “I’m coping with everything OK, so why do I need to see a therapist?” Sometimes there are concerns, especially in Collaborative Divorce, about paying for “all these people” when they don’t seem necessary.

After many years of experience as licensed mental health professionals working with divorcing couples through the Collaborative Process, we can tell you that the investment in your emotional well-being throughout your divorce will benefit you not only today, but for many years to come.

What Is A Divorce Coach?

A Divorce Coach is a licensed mental health professional trained to assist clients with the emotional challenges of divorce, communication, parenting plans and preparation for the future. Through Collaborative Divorce, clients work on multidisciplinary teams with attorneys, fina

Collaborative Family Law Group of San Diego with divorce solutions. Call 858-472-4022

Tina Mears, LMFT

ncial specialists and other professionals, sharing information through a transparent process with the goal of a family-centered resolution.

How Can A Divorce Coach Help During a Divorce?

A Divorce Coach can play a critically important role in helping couples work through the process by addressing challenges in communication, emotional coping skills, and parenting.

Communication

  • Identify underlying needs and wants and how to express these interests clearly.
  • Teach communication strategies around decision-making and problem-solving.
  • Facilitate the negotiation so that everyone feels heard and solutions are found.
  • Communicate with each other, with attorneys and financial specialists frequently.

Emotional Regulation

  • Offer skill based strategies for managing emotions.
  • Provide structure when facilitating difficult conversations and negotiations.
  • Facilitate client control of the process and maintain the client’s vision for the end result.
  • Help a client’s attorneys understand individual roles, the dynamics of the team and how both affect the Collaborative Process to work more effectively.
  • Help professionals understand how relationship dynamics affect the Collaborative Process and prevent or address stumbling blocks when they occur.

Parenting Plan:

  • Offer parents a safe place to propose and discuss possible parenting plan options.
  • Consider developmental stages of children in parenting plan proposals.
  • Allow difficult emotions to be present in working through child sharing arrangements.
  • Offer insight into developing a roadmap for the new dynamics of the family.

Sometimes by default, couples begin to see their attorneys as surrogate therapists or coaches. This is understandable but not productive. Attorneys are not trained mental health professionals, and their role is to provide their valuable legal expertise. It is not an effective use of time or money to try to work through mental health issues with legal professionals.

In the long run, you will work through your emotional challenges far more easily and effectively with a trained mental health professional who understands the Collaborative Process to work with you as you navigate this critically important chapter in your life, and help prepare you and your family for the chapters ahead.

 

 

 

Divorce Is Not A DIY Project: CNBC.com

Men and women often make financial mistakes when getting divorced. Learn what they are and how to avoid them. San Diego Collaborative Divorce information 858-472-4022

There are websites and apps for dating. It seems inevitable there would eventually be websites and apps for getting a divorce. With 70 percent of all divorces processed without the help of an attorney in California, there are many couples looking for guidance.

Simple online packages are available offering step-by-step plans for a DIY divorce. Price tags range from $749 to $3,000.

Should you consider one of these packages? In a recent CNBC story, Collaborative Family

Justin Reckers, Wellspring Divorce Advisors, urges caution before using a DIY divorce tool.

Justin Reckers, Wellspring Divorce Advisors, urges caution before using a DIY divorce tool.

Law Group of San Diego member Justin Reckers, Certified Financial Planner, Certified Divorce Financial Analyst and CEO of WellSpring Divorce Advisors, cautioned couples to carefully consider their assets and financial circumstances both now and in the future before going this route.

“Worst case scenario they try to do it themselves and screw it up,” Reckers said. “In most jurisdictions, a division of assets and debt is final and you cannot change it unless both parties agree.” Mistakes often mean a couple must hire attorneys after all, long after the fact.

A Collaborative Divorce can save time and money for couples over the cost of a traditional litigated divorce, and can ensure decisions are carefully considered and will stand the test of time. Contact the Collaborative Family Law Group of San Diego at 858-452-7022 to learn about your options and schedule a consultation with one of our members near you.

Don’t Divorce Alone: It Takes A Village

It takes a village to get through a divorce.

by Myra Chack Fleischer, CFL-S, Fleischer & Ravreby

As we start a new year, it is natural to take stock of your life and look for ways to improve your situation. Sometimes, this means facing the reality that a divorce is necessary for your emotional and sometimes financial health. January is the month with the most new divorce filings all year.

Attorney Myra Chack Fleischer, Fleischer & Ravreby, Carlsbad California

Attorney Myra Chack Fleischer, Fleischer & Ravreby, Carlsbad California

When a person makes the decision to get divorced, there are a lot of questions and concerns. Some are practical: Will the legal business be a nightmare? Will it cost me a fortune? Some are more personal: How will I ever get through it without breaking down?

Divorce is the most common legal matter that people try to handle by themselves, also referred to as “pro per.” A 2013 study found nearly three-quarters of all people getting divorced in the U.S. do so without an attorney.

Why does this happen? Many people think hiring a lawyer will be expensive, or stressful. They don’t anticipate any big arguments, and the paperwork looks simple enough. Just fill it out, pay the fee and you are done, right?

Not exactly. Often, people get started and discover a divorce involves a whole lot more than just legal paperwork. Court cutbacks in many states means less personnel to help you work your case through the system if anything is confusing or unclear. Mistakes can delay getting the divorce finalized for months while you are in limbo.

Divorce is never simple. It involves complex financial decisions that can affect you and your children for years to come. It involves emotional turmoil for most people: Anger. Grief. Fear. Anxiety. It makes the rest of every day life that much tougher.

Perhaps you think it’s self-serving for a family law attorney to advise people to hire a lawyer to handle your divorce. You should not stop there. For many divorces and any with children or significant financial assets, you need three key experts looking out for you.

First, find a family law attorney with expertise in divorce cases. Your attorney should hold family law specialty certification in your state. In California, look for the initials “CFL-S” for “Certified Family Law Specialist.”

After you have checked legal qualification, ask direct questions about his or her fees and how they work. You are entering a business agreement and you are hiring someone to work for you. Yes, it may get emotional, but this part should be handled as matter-of-factly as you can. Be honest and open about your finances. It will make things easier on everyone.

Attorneys aren’t quite as individual as snowflakes, but you may need to interview several before you find a good fit for your circumstances. Find out your attorney’s amount of experiences. Does your attorney tend to go to court or does he or she settle most cases outside of court? Some attorneys are better negotiators that litigators. Does the attorney represent mainly husbands or wives, or both equally? If you have a same sex marriage, find out how comfortable and experienced your attorney is with these new types of divorce cases. How much of your case will he or she handle personally? Meet any other professionals such as junior attorneys or paralegals and feel comfortable with them as well.

Next, it’s crucial to seek the services of a divorce financial planner. You may not be able to rely on your regular CPA or financial advisor. Find one specifically qualified to advise you on key aspects of the divorce process and how this will affect your assets. Look for a Certified Divorce Financial Analyst (CDFA) certification. This person will work with your attorney to oversee critical financial tasks outside a lawyer’s area of expertise. This individual will review the impact of your legal choices in the divorce on your financial and tax situation, especially in regard to a divorce settlement offer. This will strengthen your attorney’s ability to negotiate from a position of strength on your behalf.

Finally, don’t neglect your mental health needs. Long after the divorce is over from a legal and financial standpoint, you and your children will be feeling the effects of the emotional fallout. It is wise to bring in a mental health professional with training in family counseling. Divorce is an emotional experience unfolding in the midst of what is essentially a business deal. It can overwhelm you while you are struggling to focus on practical decisions about legal and financial issues. A therapist or divorce “coach” can help you cope with strong feelings while the divorce process unfolds and provide a safe place to express yourself. This allows you to avoid drama with your attorney and your financial planner.

It takes a village to get through a divorce.

It takes a village to get through a divorce.

What about the cost? It’s true hiring three professionals is more expensive than filing the paperwork on your own. But consider the risks you face on many levels. If you have any children or property, you can end up making mistakes or bad decisions that have a negative impact for the rest of your life. You could end up paying an attorney or other professionals down the road to fix the problems you created after the fact. Your kids could suffer emotional damage later that could seriously effect their future. Consider it an investment in yourself and your children for the long term. What is more important than this?

With the expertise of highly qualified, experienced legal, financial, and psychological professionals on your side, you will have all of the help you need to get through your divorce with a bright, secure future ahead of you and your family.

One way to find this kind of team to work with you is to consider the Collaborative Divorce method. Collaborative divorce is an alternative dispute resolution process to the typical adversarial divorce. A divorcing couple agrees that they will work together with family law attorneys, financial specialists, divorce coaches and child and family therapy specialists as a team outside the court system to resolve their differences. This team will help guide you through a divorce. These professionals often work together on a regular basis and can rely on each other’s specific expertise. You can still have significant disagreements with your spouse when you start this process, as long as you pledge to keep working and remain civil as much as you can until your situation is resolved.

The Collaborative Divorce process depends on the level of cooperation between the parties, their willingness and ability to commit to a healthy divorce, and the complexity (emotional and financial) of the case. It takes work. But it preserves the well-being, diginity and relationships of parents to children and even extended family. Collateral damage is minimized.

Copyright © 2014 by Fleischer & Ravreby, Attorneys at Law