Financial Goals in Divorce

Your divorce negotiation is a tense time - you need to make big decisions, about big things, often under a lot of pressure.
As an independent financial adviser helping people through divorce, I've found that many people can feel lost in the process.
They get scared they've made the wrong choice, or the wrong decision, about their money and financial future. They never know what 'enough' is, so find it hard to make decisions about how much they should be looking for our of their property settlement.
Which is why I've put this video together, using a recent case we worked on to build out an example of how we work.
Our process is simple, but powerful:
Step 1
Work together to help our client articulate what they want and need from the divorce.
Quantify those needs and wants into actual numbers.
Step 2
Prepare three alternative levels of goals for them (and their lawyer) to work with:
a) The amount they'd need to do/receive Everything they want and need.
b) A Compromise amount they could be comfortable with.
c) The 'bare minimum' they would find Acceptable.
But where do these options - created in 'deliberate ignorance' fit with their reality?
Step 3
Reality Check.
How big is the pool - and how much of that pool will they need to achieve their 3 different objectives?
Even the canniest negotiator could see which of these outcomes are completely impossible, highly unlikely or merely optimistic.
Step 4
Revisit (If necessary).
If the objectives are impossible, we need to revisit their goals to help identify an alternative solution they can work with.
If you'd like to find out how this process might help you as you navigate through your own divorce, please get in touch:
www.planningsolo.com.au
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