ADFP Conference - Expecting Record Attendance

The Association of Divorce Financial Planners is  expecting the largest attendance level ever at our upcoming tenth Annual Conference, being held September 21-22, 2012, at the exquisite Doral Arrowwood Resort in Rye Brook, New York.  The program will feature many of the nation’s top divorce financial planning practitioners, as well as four fellows of the prestigious American Academy of Matrimonial Lawyers (AAML), presenting more than 20 course offerings to help attendees exponentially increase the value they bring to millions affected by divorce.

Industry thought leaders will present cutting-edge material in a relaxed yet vibrant setting ideal for networking with the best in our business.  This combination of timely, relevant content with high-level peer interaction makes this an unparalleled event.

Internationally recognized therapist and mediator Elana Katz, LCSW, will share her extensive experience with divorce in a keynote address on Why can't they just be reasonable? When emotions and numbers collide, and what you can do to help, and will offer practical and time-honored suggestions for conflict resolution. Ms. Katz, Senior Faculty at the Ackerman Institute for the Family, will also be presented with ADFP’s 2012 Pioneering Award for her commitment to furthering the collaborative divorce profession.

The list of esteemed speakers at the conference also includes four AAML fellows.  Lee Rosenberg, Esq., partner with Saltzman, Chetkof & Rosenberg, will provide in-depth perspectives on new waves of legislation related to Same Sex Marriage and Divorce, including addressing key issues of state-specific recognition and portability as well as conflict with federal law.  Nancy Kellman, Esq., one of the premier U.S. lawyers devoted exclusively to matrimonial and family law, will offer a focus presentation on Trends in Alimony, sharing decades of expertise on approaches to calculating alimony, historical precedent versus current trends and more.  Renowned family law and divorce speaker Frederic Siegel, Esq. will prepare conference attendees for deposition and trial testimony in The Role of the Expert in a Divorce Case/Trial Tips for the Non-Lawyer, and Amanda Trigg, Esq., Partner with Lesnevich & Marzano-Lesnevich, will provide an elevated workshop on the challenges of working with Bankruptcy and Divorce.

You will also hear from the Honorable Elaine Gordon, Esq. on How to Establish Yourself as a Go-To Resource for Family Lawyers —in which participants will learn how to best position themselves as a go-to expert for divorce litigators as well as the court. Other topics include advanced case studies in divorce taxation, presenting analytical findings to clients and more.  Our pre-conference ADPF University on September 20 features additional courses on tax returns, building and growing a divorce financial planning practice, software tools, and the “gray divorce,” among others.

The time is now to register for this unprecedented event.  Both ADFP members and non-members are encouraged to attend, and discounted rates are available for members.  For a complete agenda and registration information, visit www.divorceandfinance.org or call 888-838-7773.

Momentum is building for this exceptional event…and this year promises the greatest level of peer access in the history of the conference.  We’ll see you soon in New York!

-- ADFP president Lili Vasileff

10th ADFP Conference - September 21st - Lifestyle Valuation

Lifestyle Valuation Analysis and College Planning at the 10^th Annual ADFP Conference

This year’s ADFP Conference will absolutely deliver on its mission to help you ‘Unlock the Potential’ of your individual practice.  We are offering unrivaled examination of critical components in divorce financial planning in a format that both seasoned and new practitioners can use to catapult the value proposition you bring to millions affected by divorce.  You’ll benefit from focus workshops on Lifestyle Analysis and Valuation, College Planning for Divorce, and other critical and often overlooked elements of divorce financial planning.

On Friday, September 21, Joan Lipton, CPA/ABV, CFF, PhD and Jean Han, CPA/ABV, CFF, JD, from top U.S. accounting firm ParenteBeard, will coach us on performing Lifestyle Analysis and Valuation in the context of a divorce proceeding.  Both experts in handling the most complex types of valuation engagements, they have performed extensive valuation consulting services, forensic accounting and litigation support in connection with matrimonial matters, arbitration and mediation.  This workshop will offer key valuation analysis tools as well as discuss factors affecting relevant time periods and adjustments.  You’ll learn from several hybrid cases affected by complicated issues such as largely fluctuating income, irregular lifestyle expenses and major expenditures, report preparation and preparing for cross-examination.

We’re also featuring a presentation on College Planning and Divorce by leading divorce financial planners Amy Whitlatch, CFP, CDFA and Kevin Worthley, CFP, CDFA on Saturday, September 22.  Ms. Whitlatch and Mr. Worthley will provide insight on the numerous ways that divorce complicates college planning and how it affects financing and eligibility for financial aid.  They will share financial aid calculations and discuss how aid is awarded, how this changes in a divorce situation, and offer tips to increase aid eligibility or avoid mistakes that reduce aid.  Our esteemed speakers will offer tax planning assistance as it relates to college financing and will help you incorporate college planning into the larger financial picture to meet your clients’ goals.

Other focus presentations will include advanced case studies in divorce taxation, presenting analytical findings to clients, complications of same sex divorce, the role of the financial expert in divorce cases, trends in alimony and more.  Our pre-conference ADPF University on September 20 features additional course offerings on tax returns, bankruptcy, building and growing a divorce financial planning practice, estate planning and software tools.

There are only three weeks left to register for this extraordinary educational event!  Both ADFP members and non-members are encouraged to attend, and discounted rates are available for members.  For a complete agenda or to register, go to www.divorceandfinance.org or call the ADFP office at 888-838-7773.

This conference promises to be our most successful yet.  We look forward to seeing you soon!

-- ADFP president Lili Vasileff

Advanced Case Studies in Divorce Taxation - Annual Conference

ADFP Presents 2012 Installment of Advanced Case Studies in Divorce Taxation

I’m pleased to share that, due to popular demand, we are offering an updated Advanced Case Studies in Divorce Taxation course at the 2012 ADFP Conference, being held September 21-22 at the Doral Arrowwood Resort in New York.  As a follow-up to last year’s celebrated workshop, 2012 conference attendees will learn practical application in divorce taxation with real-world case scenarios presented by renowned divorce finance expert William Donaldson, CFP®, EA, CDFA™.

Presented on Saturday, September 22, the 2012 installment of Advanced Case Studies in Divorce Taxation will give you the opportunity to dissect complicated tax scenarios and analyze diverse approaches to actual divorce cases with fellow practitioners.  Mr. Donaldson will apply his extensive knowledge of exceptions to the rule, leading discussion of cases designed to help you avoid potential mistakes and increase your value proposition.  You’ll learn to identify tax traps in real estate transactions, pension/investment division, and alimony/child support structure, as well as develop strategies to avoid them.

This workshop alone makes the 2012 ADFP conference a must-attend event, as it offers unparalleled opportunity to distinguish yourself as an invaluable divorce taxation resource.  On the heels of last year’s extremely well-received presentation, Mr. Donaldson will share new, challenging cases in a hands-on, practical format to maximize retention.

Other 2012 conference highlights include presentations by leading divorce experts on lifestyle analysis and valuation, presenting analytical findings to clients, complications of same sex divorce, trends in alimony and the role of the financial expert in divorce cases.  Our pre-conference ADPF University on September 20 features additional course offerings covering tax returns, bankruptcy, estate planning, building and growing a divorce planning practice and more.

Discounted conference rates are still available for ADFP members, and both ADFP members and non-members are encouraged to attend.  For a complete agenda and registration information, visit the ADFP website at www.divorceandfinance.org.

Our 10^th annual conference promises to be the most exciting yet.  You can’t afford to miss it!  We look forward to seeing you there.

-- ADFP president Lili Vasileff

For more information and to register for the 10th Annual Conference of the Association of Divorce Financial Planners, go to www.divorceandfinance.org or call the ADFP office

Outstanding Conference September 21-22 at Doral Arrowwood Resort

Same Sex Divorce and Alimony Present Unique Challenges for Divorce Practitioners

Evolving legislation continues to present a challenging landscape for divorce financial planners.  Don’t miss the opportunity to sharpen your competitive edge at our 2012 ADFP Conference with focus presentations on Same Sex Marriage and Divorce as well as Trends in Alimony.  Our 10th annual conference, being held September 21-22 at the Doral Arrowwood Resort in Rye Brook, New York, will take an in-depth look at these two areas of increasing interest.

As individual states begin to legalize same sex marriage, divorce professionals are preparing for an inevitable rise in same sex divorce.  On Friday, September 21, Greg Matalon, Esq. and Robert Barnett, Esq., partners with Capell Barnett Matalon & Schoenfeld, and Lee Rosenberg, Esq., partner with Saltzman, Chetkof & Rosenberg, will provide perspectives on new waves of legislation related to Same Sex Marriage and Divorce.  With governance of marriage and divorce being largely state-specific, our esteemed speakers will address key questions of recognition and portability.  Also critical is the issue of conflict with federal law, which defines marriage as a union between one man and one woman.  Challenges related to spousal living, survivorship rights and benefits, including COBRA, ERISA and social security, as applied to same-sex couples make divorce planning for this demographic much more difficult than for traditional spouses.  If you intend to engage with this client demographic, you can’t afford to miss this specialized training in order to stay at the forefront of the issue and anticipate prospective changes on the horizon.

In addition, our 2012 conference offers a specialized course on Trends in Alimony by Nancy D. Kellman, Esq., one of the premier U.S. attorneys devoted exclusively to matrimonial and family law.  Alimony remains an elusive, moving target for divorce practitioners who understand that a one-size-fits-all model is flawed—and can result in financial disaster for many families.  On Saturday, September 22, Ms. Kellman will share decades of expertise on various approaches to calculating alimony, historical precedent versus current trends and much more on this important topic that affects all parties in a divorce, including financial planners, attorneys, judges and clients.

The 10th annual 2012 ADFP Conference, being held September 21-22, 2012, will cover topics including lifestyle analysis and valuation, presenting software analysis to clients, divorce taxation and much more.  In addition, you may also register for the pre-conference ADPF University on September 20, 2012, which offers courses on tax returns, bankruptcy, building and growing a divorce planning practice, estate planning, family law software and more.

Momentum is building for this exceptional event….I hope to see you there!

-- ADFP president Lili Vasileff

For more information and to register for the 10th Annual Conference of the Association of Divorce Financial Planners, go to www.divorceandfinance.org or call the ADFP office at 888-838-7773.

Momentum is building .........ADFP Conference 2012

http://www.divorceandfinance.org/Conference2012

Same Sex Divorce and Alimony Present Unique Challenges for Divorce Practitioners

Evolving legislation continues to present a challenging landscape for divorce financial planners.  Don’t miss the opportunity to sharpen your competitive edge at our 2012 ADFP Conference with focus presentations on Same Sex Marriage and Divorce as well as Trends in Alimony.  Our 10th annual conference, being held September 21-22 at the Doral Arrowwood Resort in Rye Brook, New York, will take an in-depth look at these two areas of increasing interest.

As individual states begin to legalize same sex marriage, divorce professionals are preparing for an inevitable rise in same sex divorce.  On Friday, September 21, Greg Matalon, Esq. and Robert Barnett, Esq., partners with Capell Barnett Matalon & Schoenfeld, and Lee Rosenberg, Esq., partner with Saltzman, Chetkof & Rosenberg, will provide perspectives on new waves of legislation related to Same Sex Marriage and Divorce.  With governance of marriage and divorce being largely state-specific, our esteemed speakers will address key questions of recognition and portability.  Also critical is the issue of conflict with federal law, which defines marriage as a union between one man and one woman.  Challenges related to spousal living, survivorship rights and benefits, including COBRA, ERISA and social security, as applied to same-sex couples make divorce planning for this demographic much more difficult than for traditional spouses.  If you intend to engage with this client demographic, you can’t afford to miss this specialized training in order to stay at the forefront of the issue and anticipate prospective changes on the horizon.

In addition, our 2012 conference offers a specialized course on Trends in Alimony by Nancy D. Kellman, Esq., one of the premier U.S. attorneys devoted exclusively to matrimonial and family law.  Alimony remains an elusive, moving target for divorce practitioners who understand that a one-size-fits-all model is flawed—and can result in financial disaster for many families.  On Saturday, September 22, Ms. Kellman will share decades of expertise on various approaches to calculating alimony, historical precedent versus current trends and much more on this important topic that affects all parties in a divorce, including financial planners, attorneys, judges and clients.

The 10th annual 2012 ADFP Conference, being held September 21-22, 2012, will cover topics including lifestyle analysis and valuation, presenting software analysis to clients, divorce taxation and much more.  In addition, you may also register for the pre-conference ADPF University on September 20, 2012, which offers courses on tax returns, bankruptcy, building and growing a divorce planning practice, estate planning, family law software and more.

Momentum is building for this exceptional event….I hope to see you there!

-- ADFP president Lili Vasileff

For more information and to register for the 10th Annual Conference of the Association of Divorce Financial Planners, go to www.divorceandfinance.org or call the ADFP office at 888-838-7773.

ADFP University Extensive Agenda Sept 2012

ADFP Unveils University Agenda for 2012 Annual Conference

ADFP is pleased to share our extensive agenda for our 2012 University Day, being held on Thursday, September 20, 2012.  The University program is offered in conjunction with the annual ADFP Conference, which will be held September 21-22 at the prestigious Doral Arrowwood Resort in Rye Brook, New York.

The robust line-up of courses offers both seasoned divorce professionals as well as those new to the industry abundant opportunity to increase the value you bring to your clients.  The full-day immersion offers exceptional content in a format designed to be tailored to your individual needs in this specialty field.

Attendees will select up to five of ten course offerings, allowing you to customize the experience to unlock the fullest potential of your individual practice.  Most courses provide Continuing Education (CE) credits. 

ADFP President Lili A. Vasileff, CFP®, CDFA™, a nationally recognized expert in divorce financial planning as well as author, writer and frequent speaker on the topic, will address issues specific to rapidly growing “Gray Divorce,” or divorce among the age 50+ demographic.

Dan Caine, JD, MBA, will lead a Family Law Software Workshop to showcase his cutting-edge divorce financial analysis software product that has revolutionized the way divorce practitioners work with their clients.

Nationally recognized divorce financial practitioner Rosemary Frank, CDFA™, will share strategic and tactical approaches to Building and Growing Your Divorce Financial Practice.  Whether just starting out or seeking to move to the next level, there will be business development ideas for everyone.

In addition, leading divorce experts will cover topics such as Long-Term Care and Divorce and Estate Planning and Divorce.  Critical Divorce Strategies for Families with Special Needs—addressing complications and financial impacts of divorce in families touched by personal disabilities—will be presented by Mary Ann Ehlert, CFP®, President and Founder of Protected Tomorrows.

Further course offerings include Bankruptcy and Divorce, Anatomy of a Tax Return, Retirement Plans and Divorce and an additional session on use of Qualified Domestic Relations Orders (QDROs), which direct distribution of retirement funds to former spouses.

In addition to the pre-conference University, you may also register for the full 2012 ADFP Conference on September 21-22.  Our 10th annual two-day conference combines the most comprehensive divorce financial planning education and networking with the exquisite Doral Arrowwood Resort experience.  Conference highlights include contemporary thought leaders covering topics including lifestyle analysis and valuation, same sex divorce, presenting software analysis to clients, divorce taxation and much more.

Discounted conference rates are available for ADFP members.  Both ADFP members and non-members are encouraged to attend.  For a complete agenda and registration information, visit the ADFP website at www.divorceandfinance.org.

We look forward to seeing you there!

-- ADFP president Lili Vasileff

For more information and to register for the 10th Annual Conference of the Association of Divorce Financial Planners, go to www.divorceandfinance.org or call the ADFP office at 888-838-7773.

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Association of Divorce Planner - Business Valuation in Divorce - Expert Education at Annual Conference Sept 23-24

Business valuation during a divorce… Whichever spouse ultimately walks away with the business, there are complex issues to consider. That’s why I’m pleased to announce we have Kenneth J. Pia, Jr., CPA, ABV, ASA, MCBA, presenting at this year’s Annual Conference of the Association of Divorce Financial Planners, September 23-24.

Partner and Director of Valuation Services at Meyers, Harrison & Pia, LLC, Mr. Pia will focus on the financial implications of the privately-held business’s value and earnings, which in many cases is the single largest asset and income source to the marital partnership.

During his session, “Integration of the Value of a Privately-Held Business in the Divorce Process,” Mr. Pia will address this complex topic in great detail, and ADFP Conference attendees will gain valuable insights so they might better understand the key points of business valuation methodologies. They, in turn, will be better able to educate our clients and legal professionals so more equitable outcomes may be achieved.”

Attendees will also have numerous other opportunities to learn divorce finance best practices from leading practitioners in our industry.

Plus, attendees will have the option to participate in the September 22 Pre-Conference ADFP University, a one-day immersion in family law software, taxes, PR strategies, and more.

I look forward to seeing you there!

Sincerely,

ADFP President, Lili Vasileff, CFP, CDFA

For more information, contact me at HYPERLINK "mailto:Lvasileff@aol.com" Lvasileff@aol.com, or at 203-622-4911.

More About the Association of Divorce Financial Planners (ADFP)

(www.divorceandfinance.org)

The ADFP is an interdisciplinary association of professionals who research and analyze personal and business financial issues, as well as tax implications related to divorce. The association develops outreach programs, training opportunities, and continuing education to financial practitioners, allied divorce professionals, and the general public. The organization is a key role player in policy making regarding divorce financial issues and holds members to high standards in professional and ethical protocols in the U.S., Canada, and other countries.

About ADFP Conference Presenter, Kenneth J. Pia, Jr., CPA, ABV, ASA, MCBA

(www.mhpcpa.com/staff_Pia.htm)

Partner and Director of Valuation Services at Meyers, Harrison & Pia, LLC, Mr. Pia has conducted valuation studies of entire businesses and partial business interests. He has appraised companies in a broad range of industries for purposes of marital dissolution, and has served as an expert witness in many courts on business valuation and analysis, economic damages, tax, and divorce related issues. In addition, Mr. Pia has successfully mediated numerous litigated financial matters, both in the area of business appraisal and marital dissolution.

Association of Divorce Financial Planners National Conference - Sept 23-24 - Nationally recognized media expert Stacy Francis

Breaking news from the President of the Association of Divorce Financial Planners…

Exciting news for ADFP members! Nationally recognized media expert Stacy Francis, CFP®, CDFA™, will be presenting at the 9th Annual Conference of the Association of Divorce Financial Planners.

We’re expecting a record attendance at this year’s Annual Conference, coming to the Doral Arrowwood Resort, September 23-24. Stacy has graciously accepted the challenge to present a present a No Cost, Low Cost PR tactics overview at the optional Pre-Conference ADFP University on September 22.

Stacy is a dynamic speaker who has taught hundreds of classes and has shared the platform with some of the top speakers in the country, including Suze Orman and Jean Chatzky. She has helped thousands of clients nationwide create more fulfilling lives through financial freedom.

She appears regularly on CNBC, CNN, Nightly Business Report, NPR, Oprah and Friends and The Today Show and has been quoted in over 100 publications such as Business Week, CNN, Dow Jones, Entrepreneur, Forbes, Glamour, Investment News, Money Magazine, MSN, Newsweek, New York Times, and The Wall Street Journal.

Join your colleagues at this year’s Pre-Conference and Stacy will show you how to:

·        Pitch yourself and your firm in a way that impresses reporters

·        Take advantage of free online tools to increase media presence

·        Write your own press releases and get thousands of Internet search hits

·        Present yourself as an authority in your field

·        Book yourself for paid speaking engagements – without relying on an agent or speakers bureau

·        Cultivate valuable relationships with the press

Hope to see your there! Check back for more ADFP Conference announcements coming soon.

Sincerely,

ADFP President, Lili Vasileff, CFP, CDFA

For more information, contact me at Lvasileff@aol.com, or at 203-622-4911.

More about the Association of Divorce Financial Planners (ADFP)

The ADFP is an interdisciplinary association of professionals who research and analyze personal and business financial issues as well as tax implications related to divorce. The association develops outreach programs, training opportunities, and continuing education to financial practitioners, allied divorce professionals, and the general public. The organization is a key role player in policy making regarding divorce financial issues and holds members to high standards in professional and ethical protocols in the U.S., Canada, and other countries.

5 Divorce Tax Cautions

5 Divorce Tax Cautions  -  Be Informed Before You Sign

Listed below are some tax pitfalls of divorce.  Mistakes happen in divorce for lack of knowledge, and those mistakes can create additional costs to divorce that could have been avoided.

1.      Not knowing how to execute an institution to institution transfer of retirement funds and having to pay taxes on those funds. 

Financial institutions’ forms are often difficult to understand.  They can be formatted or have questions that if answered wrong, could create unintended consequences such as  taxes and penalties.

2.       Not knowing when you can withdraw retirement funds from a retirement account without paying a 10% penalty if you are younger than age 59 1/2.  

      In divorce there are exceptions to the 10% penalty for distribution of certain types of retirement money to the non-participant.

3.      Failing to realize that the person who receives alimony will be taxed.  

Taxes on alimony should be added to monthly budget expenses, and some recipients of alimony should send estimated tax payments quarterly to the  IRS and their state income tax agency. 

4.      Failing to have tax credits/refunds or capital gains/losses carried forward as divisible assets listed in the settlement agreement. 

      You may unintentionally give your ex-spouse a parting gift.  Paying attention to details is vital during divorce.

5.      Not deducting your attorney fees that are attributable to receiving alimony or retirement funds, if you qualify. 

     Do you know if you qualify?  This information can potentially save thousands of dollars.

The above is not tax advice.  The cautions are for consideration and should be discussed with  a tax advisor.

Each divorce has its own unique facts and circumstances.  Divorce Financial Planners provide financial information support and settlement analysis to clients who want to make informed decisions. 

Understanding Before Signing  -  Divorce Financial Planners Make a Difference.

Courtesy of Sandy Arons    http://www.getasmartdivorce.com



Adding a Divorce Financial Planner to Your Team at the Beginning

As a couple goes through the divorce process, they will be required to make many decisions that will impact their financial well-being for years to come. The best decisions come from an early understanding of settlement alternatives and consequences before making agreements.

It often happens that both parties make assumptions and decisions out of fear and anger. Early analysis and illustrations provided by Divorce Financial Planners open discussions, expanding the likelihood of finding workable solutions.

Divorce has layers of complexity such as what is the income available, what are the current living expenses, and what will they be in the future. That’s just a few of the income and support questions, not to mention taxes. What about the property division questions such as can we afford the house, how do we split the pension plans, and what about the debt.

With the multiple shifting components of divorce financial alternatives, its no wonder divorce can be very expensive and emotionally exhausting.

Divorce Financial Planners help clients with the simple and the complex financial settlement analysis necessary to make informed decisions.

Illustrations provided by Divorce Financial Planners are tools to give clients clarity and assist their negotiations.

Divorce Financial Planners work with individuals and couples from the beginning of the divorce through the end or as needed for a specific task such as pension division or net cash flow analysis.

Divorce Financial Planners work with clients who are self-representing, in mediation, in collaborative process, and in litigation. Divorce Financial Planners work with attorneys, mediators, and other professionals as part of a cooperative team to give clients the best outcome possible.

There is a smart way to divorce, a way to see choices and consequences before you sign your agreement by using the help of a divorce financial planner. The Association of Divorce Financial Planners can help you find a financial planner in your state.

Can I Make Changes to My Divorce Settlement?

If you have been divorced for a while, you may now realize that your divorce settlement agreement is no longer working in the way you had expected it to given unanticipated changes in your life post divorce.   This happens for a variety of reasons, especially for those who were in a hurry to get their divorce settled without involving the financial expertise of a divorce financial planner.  In other cases, things happen such as the loss of a job or there were new child related expenses that might have been anticipated but now call for modification or renegotiation of your judgment.

If you and your ex-spouse agree to change the settlement, modifying it should be relatively hassle-free.  However, if you do not agree to make the changes, you may be in for a painful second round of your divorce.  

There are specific means tests and legal statutes that afford you the opportunity to go to court to modify or cease your spousal support or child support obligations.  However, it is nearly impossible to make changes to your property settlement once the settlement is final.  Generally, property division is a one shot deal.  The only circumstances that exist for you to reargue, reopen or change property division is in rare circumstances such as duress, fraud, or legal error.  The circumstances that allow changes to the property agreement usually are identified within a very short window of opportunity – typically 30 days after the divorce is finalized.

Is it possible to make changes to the property agreement after your divorce?  The short answer is, “Probably not.”  Property division means you need to make educated and strategic decisions.  Do it right the first time with the help of a divorce financial planner who can also help set new financial goals for your future.  Things that seem “fair” during divorce negotiations sometimes really aren’t when you look 5, 10, 30 years into the future.  There really is no way for someone without the training and expertise to understand all of the long-term financial consequences of the decisions you will be required to make.  So be sure to find a qualified divorce financial planner in your state.

How To Avoid The High Cost Of Divorce

There’s an old saying…”Love is grand. Divorce is a hundred grand.”

If that saying shocks you, you are not alone.  Most people tend to underestimate the cost of a divorce.  While there are no national statistics for the cost of divorce, professionals agree that the average cost for a litigated divorce today is high.  According to divorce360.com the cost of divorce for a couple with an average income of $60,000 per year with a home worth $185,000 is about $53,000. For couples making $150,000 per year with a home valued at $535,000 the cost would be about $188,000.

Traditional divorce on average takes approximately two years to complete.  This is because of the number of legal motions and court appearances incurred typically in the course of offers and counter-offers passed between attorneys to resolve differences.  The longer it takes, the more expensive it is going to be.  Plus, that is two years of being fearful, angry, and anxious.  

One way to reduce the time and cost of the divorce would be to consult with a divorce financial planner.   A divorce financial planner can help you to better understand the reality of your financial circumstances: to quantify your financial needs and your spouse’s ability to pay for support obligations, as well as analyze an equitable division of marital property.

By working with a divorce financial analyst first, you can work through the financial details with someone trained to help you understand all of the financial consequences of the decisions you need to make.  Attorneys focus on legal issues while a divorce financial planner will provide more in depth analysis of-the complex tax and financial issues that you will be facing and present recommendations for achieving -a divorce settlement that is best for you.

Another benefit of working with a divorce financial planner is that you -can plan for what your financial life will look like after your divorce.  A divorce financial planner will help you transition into your post-divorce life by helping you create  a clearer picture of your long-term financial goals and produce budgets for you so that you’ll have a realistic picture. 

Once you know what your life will look like after your divorce, you will become much less fearful which will mean that you can face your divorce with confidence. And, chances are you will be able to develop a divorce settlement much faster.   Less time reviewing offers and counter-offers and less time in a court room will mean that you have more time to transition to the next phase of your life.