Written by Richard M. Gordon, B.A., M.A., J.D.
The best marriages are the ones where both partners are aware of all the financial issues of their marriage. Each partner takes an interest, and often, the monitoring of finances is shared between the two. Financial issues are often the biggest concern of marriages. One of the best things couples can do at the beginning of their marriage is to be open with each other. Both should be aware of and understand what money is coming in, what money is going out, and who will be in charge. In the past, one spouse might have had most of the responsibility for finances, but that arrangement rarely happens now. Both spouses have careers, both are contributors to the finances, and shared
expenses are common.
No longer “what’s yours is mine and mine yours”
Unfortunately, even the best marriages may come to an end. With Divorce, two shared incomes become individual incomes and require equal distribution. Other marriage issues that were previously shared now become individual as well… custody of children, distribution of houses and property, insurance, and more are usually divided. Savings and/or joint checking accounts need to be changed to individual. Eventually, spouses must prepare to get their own health insurance if they are currently on the other spouse’s insurance. They can stay on it until after the Divorce but will need to get their own. Taxes may also be an issue, especially if you have always filed jointly. A good tax preparer who understands what you want is essential
Mediate to Cooperate: Mediation will keep the discussion positive and help you see the issues differently. Through mediation, everyone involved will benefit, not just one person. A competent mediator can lead you through a prosperous and peaceful end to your marriage, or by helping you work out your issues, mediation can keep you together. Whatever the decision, mediation will help you and your spouse avoid costly court cases and achieve a peaceful divorce process that satisfies both partners and their families.
At A Fair Way Mediation Center, we offer a relaxed, compassionate atmosphere in an informal setting that encourages a calm and objective approach. It’s a safe space without the stress and embarrassment of the courtroom All couples are welcome, whether traditional or same-sex families. We are skilled in the technology of virtual mediation. We will accommodate whatever way you choose to meet. We successfully mediate issues with in-person, Zoom, Google Meet, and video chat.
Our free 30-minute consultation with both parties will help you decide whether to try mediation. Call us for a free evaluation at 760-227-5090 or 619-702-9174. You can also complete an online request at www.afairway.com. Offices in Coachella Valley and San Diego.
