Decades of experience in family law, divorce and mediation.
Financial Analysis And Future Planning
In a divorce, the parties always face new financial challenges. They have lost their economies of scale — they must maintain two residences, two health insurance policies, etc. Living costs inevitably rise, and without proper financial analysis and planning, many people find themselves burning assets or sinking in debt. Add to that the sometimes-enormous cost of a legal divorce war, and it is understandable why many parties wind up in bankruptcy, or near it.
Most people are concerned not only about current finances, but also about the impact of the divorce on long-range issues, such as retirement, college education, investments and life insurance.
Major areas of analysis and planning include: (1) options for disposition of the residence and their tax effects, (2) retirement planning, (3) planning to fund college education expenses, and (4) structuring child and/or spousal support. These areas have tax ramifications which require attention to minimize the tax impacts of the divorce. Mr. Caruthers uses sophisticated software programs to determine what solutions will “work” for both parties, after-tax. Mr. Caruthers participates in the mediation sessions in the areas of financial and support analysis, taxation and financial planning. These services distinguish Divorce Mediation Plus from other mediation services. It’s part of the “Plus.”
Financial analysis and planning are an essential part of most divorces. Some parties want more financial analysis and/or planning than others as part of their divorce process — and some want none at all. It’s up to you.