by Kristen Hilty
Most couples going through divorce know when some level of Spousal Support/Maintenance aka Alimony is needed, but have no idea how much or for how long. Most attorneys will go by your budget numbers, which in my experience are almost never accurate. Attorneys are paid to do their best for their clients so if you’re the payor, they will argue for the lowest number possible and if you’re the recipient, they’ll argue for the highest number possible. Let’s talk about a better way:
What IS The Right Amount?
If you don’t already know, I am a huge advocate of negotiated settlements whether you’re using attorneys or not. But how do you know what to negotiate for? Where is that right number and how do you find it? Here’s what a CDFA® does to help in this situation. We do a full financial projection for each party for 20 years into the future. These projections include ALL expenses, income, assets and liabilities. Basically, now there is a full financial plan for each person reflecting whatever settlement agreement they are considering.
When you have that type of data in front of you, it becomes so easy to find the sweet spot that is a win for both parties. We want BOTH parties to move into the next phase of their lives with clarity and confidence about their financial futures.
Financial Goals and Agreements
When we can show that the payor’s net worth and cash flow are positive and increasing and he/she can still reach their financial goals if they pay a certain level of maintenance, they’re far more likely to reach an agreement. Why waste time spinning your wheels trying to convince the other side you’re right without the evidence to back you up?! Remember you only have one shot to get this right! Call Better Divorce Solutions because we’re here to help.