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Financial security is a major concerns for divorcees

On Behalf of | May 15, 2018 | Divorce

One of the unfortunate outcomes of an Arizona divorce is that one or both of the spouses may be less financially stable afterward. As a result, couples are increasingly looking for more financial security in the divorce process in addition to more collaborative solutions to property division.

For many unhappy spouses, the first step is to hire a financial planner. This professional could be part of a team along with an attorney and family members. With a team in place that can offer financial, legal and emotional support, a spouse may feel better prepared to enter divorce negotiations.

It is important to not rush through these negotiations and the settlement. Moving too fast could be a mistake both emotionally and financially. Furthermore, future exes need time to attend to other matters besides dividing major shared assets. For example, they may need to change auto insurance policies. Spouses should also make sure they and their children will have health insurance after the divorce.

Divorce is an emotional time, but it is important that spouses do not allow themselves to be consumed by those emotions when going through negotiations over property division. For some spouses, there can be a tendency to agree to unfavorable conditions because they feel guilty about the divorce or want to get the process over with. Others may deliberately slow the process down because they are reluctant to divorce. Working with the team assembled may help a spouse set these emotions aside and focus on finding solutions. If spouses are struggling to reach an agreement, a mediator may be helpful. This is a neutral third party who works with both spouses to help them compromise. While the focus in litigation is often on a winner and a loser, the goal of mediation is for both people to be satisfied.