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How To Make The Best Financial Decisions For Children Of Divorce

How To Make The Best Financial Decisions For Children Of Divorce

There may not be any winners in divorce, but providing your children with a solid financial foundation is close to a win. Despite the temptation to fight instead of reaching fair terms outside of court, avoiding a costly legal confrontation is the best way to arrive at a stable financial outcome for your children.

Preventing drawn-out courtroom expenses is the first step towards a better financial outlook during and after the divorce. In our unbiased divorce mediation sessions, the next informative steps include: 

  • Understanding the legality of financial division when children are involved
  • Creating a structured agreement that meets the financial needs of all parties involved
  • Helping you plan for the future. We will help you navigate important topics like child support, alimony requirements, and other necessary subjects related to your financial agreement

Gather Your Financial Information

Before financial compromise can be achieved, a clear financial overview is integral to appropriate decision-making. To ensure that your children will have the best support possible, you can get a headstart by organizing an itemized checklist of all income, savings, and assets, both shared and exclusively yours. 

Prepared with this vital information, navigating the agreement’s specifics becomes less complicated. And, if there are gray areas that are difficult to separate, like joint bank accounts or a shared retirement fund, our divorce mediation lawyers will help you weigh the legal requirements side-by-side with the elements that can be adjusted through mutual agreement. 

Anticipate Future Changes

Emotions aside, many real-life factors will force certain financial agreement terms. For example, even if you are entitled to half of your spouse’s income or savings, will you be able to afford a safe and stable home environment for your children? In most situations, the final decisions are determined by the factors that uphold your children’s best interests. 

Other future changes like adjustments to child care and school transportation needs can tie into the financial discussions. Even if you have a great job, perhaps the long hours and inability to take your child to school will outweigh the value of your financial situation.

Since countless variables can alter the final financial agreement, we take the time to evaluate your day-to-day situation on a personal basis. With our organized guidance, we’ll demystify other relevant variables, like: 

  • Where will your child live and what do common custody situations look like?
  • How can we reach a financial compromise that best supports your child’s emotional and physical needs?
  • How will you manage other financial obligations like your child’s medical expenses or college savings?  

Contact Our Mediators & Avoid the Courts

Our goal is to transform frustration and confusion into clear and confident decisions that are best for your children. When you partner with our neutral experts, we manage all of the legal paperwork, the process can be completed in weeks, and our services cost significantly less than the typical divorce process. 

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