JOYCE’S DOS & DON’TS
When it’s time to say, “Goodbye”, its smart to have a great exit strategy. Here are a few of the things to do and what not to do.
Do talk to your FDS about a fair division of property.
Don’t believe that a 50/50 division of property is necessarily the same thing as a fair division of property.
Do consider selling the house when finances dictate this is the most sensible course of action.
Don’t insist on keeping the house without considering all the costs to maintain it over time.
Do let your FDS help you understand how financial issues affect each other.
Don’t view them one at a time.
Do guarantee alimony /child support payments with life insurance on the person who is supposed to pay.
Don’t forget to make the person who receives alimony and/or child support the owner of the life insurance.
Do consider creative financial solutions for settlement.
Don’t believe that your settlement must conform to what a judge would order if your case went to court.
Do ask , “How do I know that I will be financially secure after my divorce and after I retire?” before signing divorce papers.
Don’t make unrealistic assumptions about inflation and investment returns.
Do develop a post-divorce financial plan to insure that income will meet cash flow requirements,
create a retirement plan and update your estate plan.
Don’t try to plan divorce-related finances without a Certified Divorce Specialist.
What’s included in family property?
Family property includes the matrimonial home, the family cottage, furniture in all residences, any collectibles and pensions.
What are you waiting for? Do call Joyce. Don’t get fleeced!
