Did you know that you have a secret weapon in your Pennsylvania divorce? No, we are not talking about some kind of super-secret spy device a la James Bond -- we are talking about a simple calculator. Divorce experts say that a simple number-crunching session with a financial planner may help many avoid unfair property division agreements, even if soon-to-be divorcees thought they were getting a good deal.
Although your friends, family members and other professionals may give you certain advice, it is always wise to turn back to the calculator for the true path through your divorce. In some cases, divorcees do not realize that the cost of litigation could negate any savings they would have received through certain divorce terms. Further, tax consequences are often ignored during property division negotiation, especially when spousal support is involved.
Your best allies during your divorce can be those who are experienced in financial matters. Consider consulting a divorce financial planner, a certified public accountant and even a realtor to get more information about your money situation. A careful analysis of the best- and worst-case scenarios for your property division agreement can help you be prepared for the legal process of splitting your marital property.
Although the calculator may tell you something that you do not want to hear -- stop the litigation or sell the house, or even divide your retirement account -- numbers never seem to lie. It is important to remember that your emotional connection to certain items may cloud your behavior during even simple property division. Relying on your legal and financial team during this difficult time may help you to create a more stable plan for your future, even as you feel confused.
Source: The Huffington Post, "The #1 Secret Weapon and Surprising Best Friend In Your Divorce", June 27, 2014