Divorce mediation in NJ is one way in which spouses on the brink of dissolving their marriage can take ownership of the divorce process and come away empowered.  According to Nancy Liebman, an Illinois financial planner who specializes in re-arranging finances for couples who are splitting up, individuals need expert assistance at this time of their lives, a time that many find to be traumatic.  That trauma can be alleviated at least in part by relying on trained professionals such as mediation attorneys who can help to make sure that a mediated settlement takes into account all contingencies and is equitable for both sides.

Adjusting Expectations in Divorce Mediation in NJ

Unfortunately, according to Liebman, sometimes financial expectations have to be adjusted.  This is part of the mediation process.  “The hardest thing is to have to support yourself on a fixed income in a situation where you might not have been the one handling the financial issues,” commented Liebman, “That reality is hard to accept sometimes.  You won’t be able to afford what you had when you were married."

Liebman also warns that people need to be prepared to face the tax ramifications of any decision reached via divorce mediation: “Don’t forget that whatever maintenance or alimony you agree to, you have to pay taxes on this.  You might think you have a good package because you’re looking at the amount before taxes.  Once you take out the taxes, that package might not seem so great.”