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5 Questions You Need To Ask Before You Decide To Divorce – According to Dr. Phil

5 Questions You Need To Ask Before You Decide To Divorce – According to Dr. Phil

October 24, 2014/in Divorce Financial Planning, Lists Worth Knowing, Post Divorce Financial Planning /by Justin Reckers

1. Have you done everything you can to save and rehabilitate your marriage?

2. Do you have unfinished emotional business?

3. Have you researched, planned, and prepared yourself legally for divorce? Divorce can be complicated. It involves money, custody issues, child support, spousal support, and other legal aspects. You need to educate yourself, protect yourself and empower yourself; until you’ve done that, you’re not ready. For example, do you know how many bank accounts you have as a couple and individually? Any other marital assets you might be entitled to? Consult with at least three attorneys as you explore the option of divorce. “There are economic realities that you have to acknowledge,” says Dr. Phil, “but you are not powerless.”

4. Are you ready to adopt a new standard of conduct with your children? 

5. Are you willing to create a new relationship as a co-parent? 

Here is our take. All of these questions are important to consider before embarking on dissolution proceedings. If you enter divorce proceedings without having them answered the process is guaranteed to take longer and cost more money because the unanswered questions will play themselves out in conflict during negotiations. We find it helpful for our divorcing clients to work with a mental health professional as a coach during the process to get assistance with these difficult and emotional decisions. We of course gravitate directly to question #3 because it deals with money and we agree it is absolutely mandatory to do your homework before filing if possible. Find the family bank accounts, copies of tax returns and investment account statements and research the options available for settling your differences outside of court.

Read the full text at the link below courtesy of Huffington Post.

5 Questions You Need To Ask Before You Decide To Divorce.

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