Oftentimes, when a woman is contemplating a divorce, her fear of an uncertain future will take control of her decision-making ability. In most cases ,once a divorce decree is signed, the divorce is final. There is no opportunity to renegotiate any unfavorable deal. 

With time, most women will recover from the breakdown in their marriage. However, a women will have to live with the financial decisions made during the divorce for the rest of her life–while she is under great emotional stress. 

Common mistakes are often made by women in the divorce process, These mistakes are due to a lack of their understanding their short term and long-term lifestyle, and not understanding their savings needs, their financial goals, or their future tax situation. 

What’s the answer? Having the right financial and tax professionals working for you to educate you. 

Don’t gamble with your future. You should find the right professionals for your unique situation. Then , you can use financial planning strategies, and specialized training like finding hidden assets and income by your spouse. 

These professionals can also assist in valuing and dividing property. And they can help you evaluate whether or not you should keep the house, and also help you understand retirement plans, & pensions; and help you understand the unique tax laws that apply to your situation. 

Most importantly, a Certified Financial Planner professional , or a tax advisor can give you a clear view of your financial future and show you how to achieve the best possible divorce process outcome –for both you and your family. 

Before you start negotiation with your spouse, you will need to ask yourself some important questions. Start by determining your priorities for the big picture . Then focus on other important matters, such as: 

• Who will stay in the house? 
• Who will pay the mortgage, house taxes, and other regular expenses while you are apart? 
• How will you share the money in your joint bank account? Or, assets such as stocks, bonds, and pensions? 
• Who keeps the family home? 
• How will you handle current debts? 
• Will you continue to file joint tax returns during the separation? 
• Will one of you be paying spousal support to the other? Will it be in the form of a lump sum or periodic payments. 
• Will one of you be paying child support to the other? How much? When will payments stop? 
• And there are many , many more decisions to be made—at all stages of the divorce process. 

For a FREE “Checklist to Getting Organized”, contact Harvey Weinstein, CFP,RIA at 860-778-8168 or at www.divorcefsw.com.