Harmony Divorce Solutions logo Contact Information. Mary Ann Ernette. maryann@harmonydivorcesolutions.com. 412-874-5892

Avoiding Financial Disaster In Divorce

Negotiate a reasonable settlement

-Put together a strong team of experts. As a CDFA™ I can make sure you will be able to live with the financial decisions you make today for both now and in the future.

“Don’t live above your means”

– Know your expenses. Create a budget on paper or ask your financial advisor for help. Reduce expenses or increase your income

Think twice about keeping the family home

– Ask your CDFA ™ whether you can realistically afford it. Have him or her show you how much more cash flow you would have if you mover to a smaller home.

Realize you won’t get everything you want in the property division

– Make a list of “must-haves” and be prepare to compromise on everything else. Don’t spend thousands of dollars in litigation fighting over a piece of furniture or personal item that may be worth a quarter of what you are spending to fight .

Protect your retirement assets

-Have a “QDRO: (Qualified Domestic Relations Order) filed as soon as possible. Make sure you have a pension (or a family business for that matter) valued by a professional.

Don’t ruin your credit history

-Be sure to close all joint accounts and credit lines you do not use soon after the divorce is final. Avoid “maxing” out your credit cards and maintaining long-term balances.