Minimizing The Financial Impact Of Divorce
Divorce is a difficult and life altering event – it can have a long-term impact on your family, your daily life and your finances. There are both emotional and financial costs of divorce that cannot be avoided all together, but partnering with the team at Johnson Mediation can help you make decisions during the process that minimizes the financial damage. Here are some tips for protecting your finances during the divorce process:
1. Choose your divorce process: Deciding to settle your divorce with mediation rather than litigation will save you thousands of dollars
Each divorce is unique – and part of what adds to the individual nature of divorce is the complexity of each case. This complexity can come in many forms. Your divorce may be complicated because of the intense conflict between you and your spouse, the inability for productive communication, or it can be related to financial issues including joint property, assets and debt. No matter how complicated your divorce, you have options when it comes to how to settle the terms of your divorce. Just because your divorce is complicated does not mean that you have to
The divorce process is different depending on the state where you live. Minnesota has what is known as a “no-fault divorce law”, which means that the court does not take into consideration the reasons why you are divorcing your spouse. You do not need your spouse’s consent to file for divorce and the courts do not consider the reason you are divorce when deciding whether to grant the divorce. In order to get a divorce in our state, you simply have to have lived in the state for 180 days before the divorce proceedings begin and show that there is no hope for reconciliation. Another thing to remember
If you are like most divorcing couples, you have never gone through the divorce process. It can seem overwhelming, stressful and difficult. If you have chosen to pursue divorce mediation to resolve the terms of your divorce, you will want to be prepared for that process to maximize efficiency and give yourself the best chance for success. Much of the discussion will be guided by you, your spouse, and your family’s unique needs, but below are some topics that are commonly covered during divorce mediation…
When you get a divorce, you try to make a plan (divorce agreement) that covers any and all potential issues that could come up down the road. However, it is impossible to predict the future, especially with kids. Your children’s needs change over time and there is no way to know what your kids will need (or want) years after your divorce is final. Covid-19 pandemic is a perfect example. Post-divorce mediation makes the process of changing your custody arrangement simple and low stress. Johnson Mediation can help you determine both what changes to make and how to restructure your custody agreement
One of the most common questions we get when we talk to prospective clients is whether they should consider mediation or go through the court system to settle the terms of their divorce. When people think about a traditional divorce, divorce lawyers, a courtroom and a judge generally come to mind. That is a very dated vision of how divorce really works these days. In fact, you should know that the Minnesota courts actually encourage couples to try mediation before proceeding through the courts. This may surprise you, but it is truly beneficial for all involved. Johnson Mediation can help you navigate the divorce process from start to finish
