Divorce Financial Mediation
If we lived in a world where money did not matter, then divorce would be a relatively simple process. Unfortunately, it is often the finances that cause marriages to dissolve and financial considerations only become more complex during the divorce process, so coming to an equitable property settlement agreement is one of the most difficult aspects of divorce. From determining what property belongs to whom to whether alimony should be paid, there are many factors that must be taken into consideration. Financial mediation can not only help separated couples navigate these concerns, but also do so in a way that is less stressful and emotional than facing off in front of a judge.
At Divorce Financial Solutions, our certified divorce financial analyst Veralynn Morris is an expert in financial mediation. With more than 30 years of experience providing clients with unbiased and impartial help with their divorce tax issues, she is uniquely equipped to help separating couples navigate their divorce and agree to settlements that are fair and equitable for all parties involved. We provide financial mediation services to clients in Frederick County, Montgomery County, Carroll County, Washington County, Howard County, and Garrett County.
What is financial mediation?
A financial mediator is trained to help clients understand the long-term impacts of a property settlement in order to come up with the best solution for all. During financial mediation, a divorce mediator will not offer advice. Instead, they will provide an impartial summary of the effects of proposed settlements. If you are considering splitting property evenly in half, divorce financial planning will be able to illuminate the long-term tax and inflation impacts of this decision which may prove that it is a much less equitable solution than originally thought.
Divorce mediation will take all of your property and assets into account, including retirement accounts, pension plans, stocks, investment accounts, and more. A complete picture of a couple’s finances will first be determined before any discussions of property division will be examined. Once approximate valuation is assigned to all assets, financial mediation can begin. During this process, your CDFA will act as an impartial educator who will help you consider the benefits and drawbacks of various settlement agreements. Financial mediation should be a productive, respectful, and collaborative process where both parties take an active role in choosing a fair way to divide their assets. You will be able to explore the holistic consequences of various agreements so you have the knowledge you need to make a fully informed decision.