Most people are worried about the financial impact of their separation. Usually the anxiety comes from not knowing what to expect and from not knowing the best way to structure a settlement. You can reduce fears by having a lawyer explain and predict the likely financial consequences of your separation. At the same time, a lawyer may be able to suggest strategies to maximize disposable family income and minimize income taxes.
A lawyer may be able to also generate settlement options that are different from the traditional legal model. For example, assets such as homes or pensions could be substituted for a cash equalization payment. It’s often helpful to have a financial professional analyze the consequences of various settlement options before making decisions. Such professionals can also provide assistance with budgeting and cash flow projections post-separation.
By obtaining reliable information from a lawyer and/or a financial professional, you’ll be able to better plan for your future. And by being prepared, not only will you be able to chart the best course, you’ll feel better too.