Be Realistic!

One of the most useful ways to help plan for your future is to prepare a Budget Worksheet. Utilizing a budget worksheet or spreadsheet can help you estimate and prepare for your expenses after separation. Most folks think budgeting is cumbersome or bothersome, but taking the time to calculate how much it will cost to move out on your own or to pay the mortgage and auto loan yourself can be one of the most important steps you take during this process. Budgeting is a necessary tool that can help you make better financial decisions for you and your family moving forward.

Most couples are surprised to hear that their expenses may significantly increase (27%-50%). To put this in perspective, consider that, each of your incomes may remain the same, however, instead of one shared electric bill you each will have your own separate bill, your car insurance premiums and health insurance premiums may increase, or perhaps you may lose the multi-phone discounts on your cell phone bill. Having a clear plan of action is essential.

During your consultation, your mediator will discuss with you and your partner the importance of reviewing your financial past and preparing for your financial future. It is normal for each of you to have different ideas about how to deal with assets and debts. These topics are discussed during the mediation process and your mediator will help you both come to an agreement about these items. Most couples are surprised at how simple the process can be!

Contact Me

If you or your partner would like more information on mediation, please contact Dawn Clement at [email protected] to schedule a consultation.

The information provided on this website does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this site are for general informational purposes only.