During a divorce, money matters are always tackled, so you need to be prepared. Finances can significantly affect the potential of divorce and will continue to play a negative role when involved in the dissolution. If your marriage has been too stressful to handle because of money issues, talking about money during a divorce will be tough. But, it can help to have an open, honest discussion about money during divorce. A reputable sandy divorce lawyer can help streamline the talks.
Money Talks in a Collaborative Divorce
A collaborative divorce is meant to minimize the time, expense, and emotional distress associated with the divorce process. If you and your spouse choose this divorce arrangement, you depend on your team of experts to help you talk calmly and resolve issues without being adversarial and without fighting in court. With a collaborative divorce, you and your spouse can have tough conversations in a non-confrontation setting.
Talking about money during a divorce can involve mixed emotions. But, every party can take steps to reduce reactions and feelings. By being able to discuss finances in a way that makes all parties involved feel heard, you can come up with solutions that work for everyone.
How to Talk About Money During Divorce
When you and your spouse talk about money, one party may slip into a defensive or blaming mindset. One of you may need to stay home and raise the children while the other provides financial support. Or perhaps you and your spouse have purchased significant assets and choose to continue to contribute to household finances. Regardless of the situation, it is important to consider your spouse as a partner and recognize their contributions.
To open the conversation about money during divorce, couples can express their interpretation of how finances were handled during their marriage in writing. This can help them get started and address the money mindset of every person. Also, this can open the door to questions that help result in a resolution. During the conversation, you should ask what you and your spouse want your future to look like and your standard of living. You can accomplish this by setting a budget for every party moving forward and determining how to make it work. For a successful discussion about financial matters, you and your spouse should be willing to listen and work together.
Throughout the discussion, keep in mind that collaborative divorce may gain you and your spouse the outcome you both want. Sure, it is not easy to talk about money; however, it is an important part of any kind of divorce.