PaperCity Magazine

PaperCity Dallas December 2021

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DIVORCE AND WEALTH HOW TO PROTECT YOUR ASSETS AND YOUR SANITY DURING DIVORCE PAPERCITY ADVERTORIAL F iguring out how to separate finances begins with seeing the entire financial p i c t u r e . W h a t would you suggest to someone who's at the beginning of their divorce? Interesting that you mention the "entire financial picture," as "big picture" strategy is what we employ over and over again in our divorce cases — what will your financial life look like on "Divorce Day 2." To that end, we almost always have our clients hire a financial professional to aid in the financial aspect of their divorce, ideally a CDFA (Certified Divorce Financial Analyst). With a financial expert on board, we can more readily identify and articulate a client's financial goals and assess the most optimal approach to achieving their best-case scenario in the division of the marital estate. Even better, when our clients are working in an amicable setting such as collaborative divorce or settlement track, the spouses can jointly hire a neutral financial professional who will assist both parties concurrently with understanding the entire financial picture and obtaining an outcome that is acceptable to both. A "neutral" means precisely that — not on one or the other's "side" but rather focused on property divisions that make the most sense for both spouses. The more jointly engaged neutral professionals one can hire, the better — particularly in divorces that may be less than amicable. Remember, if your case is heading towards court, the judge will order mediation first before you make it inside the courtroom. Having a neutral financial professional who has the best interests of both parties can be a tremendous catalyst to getting to yes. Communication and finances are two of the primary reasons people seek a divorce. How do you facilitate your client's communication about a division of finances when they are going through a divorce? CARLA CALABRESE AND DAWN BUDNER, THE POWER PARTNERS OF CALABRESE BUDNER LLP — ONE OF DALLAS' MOST PRESTIGIOUS FAMILY LAW FIRMS — OFFER ADVICE FROM THEIR DECADES OF HARD-WON EXPERIENCE. 92

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