Think back to your wedding day, what about that felt like a business deal? I would venture to say, nothing, absolutely nothing!
But you did enter into a business agreement with a contract. We enter into contracts every day, buying a car or a home, signing a lease, negotiating a new job, joining the gym, even signing our kids up for sports typically requires a contract. However, we fail to consider a marriage a business deal. Well first of all, because it isn’t about business it is about love, and very few of us believe we will be one of the statistics of marriages that don’t make it. Secondly, a wedding is fun, a wedding is picking your invitations, flowers, caterer, band, planning a honeymoon, we could go on and on.
So of course, we don’t think of it as a contract or business arrangement. But you did sign a binding contract with witnesses, and entered into a business arrangement. I find it is incredibly difficult to think in a business way at the end of a marriage. Now, you are dissolving a highly emotionally charged business agreement, with all of hurt, disappointment, anger, feelings of betrayal, pretty much any emotional on the spectrum can be added here. I find that most people just want it to be OVER!
This is why it is imperative that you surround yourself with professionals that can advise you on how to best move forward. Everyone knows you need an attorney, but what about other professionals? Seeking the expert help of others allows you to make educated decisions. I recommend you create a team of experts that should include: a financial professional that is trained in divorce matters, (look for a CDFA), an experienced realtor, a mortgage lender, a life & health insurance advisor, depending on your situation a tax attorney and a estate planner. Sometimes others need to be added, for example, a real estate appraiser.
I cannot say this enough, your divorce is quite possibly the most significant financial decision you will make in your lifetime and you should treat it as such.