How to save money in divorce: Be prepared when working with your financial advisor

You want to know what racks up the dollars and cents in a divorce faster than a NASCAR racer on three pots of coffee? If you don’t follow the lead of your divorce professionals, be prepared to spend a lot of money — but you can avoid that.

In today’s episode of Your Money Minute with Tracy Stewart, CPA, I want to tell you how to save money when working with a divorce financial planner. Two words: Be prepared. Your divorce professionals are working hard for you — but you’ve got to give a little bit.

Almost every client asks, “So, what are you going to do for me?” That’s a dandy question — but if you don’t ask the inverse, “What are you going to do for your divorce professional?”, you aren’t really playing for the same team.

If your divorce professional asks for a document, get the document. If you have a deadline to submit information, submit the information early or on time. If you have to ask, “Is this document really necessary”… Please know that it is, and it’s essential in helping you get the most for your time and money.

When my clients aren’t prepared and I can’t do the work being asked of me, I will cancel a meeting. That’s a lot of money that ends up in wasted time — which could have been avoided if tasks were completed on time. Best advice: You get what you put in it (and going through divorce is no exception.)

Financial independence is unbelievably liberating. Get the best advice to move forward in confidence when you share all of the cards with the professionals you’ve hired to help you.

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