How do I handle pre-divorce and post-divorce financial issues in a collaborative divorce?

Pre-divorce and post-divorce financial issues in a collaborative divorce in South Dakota are best handled through an open dialogue and discussion between the divorcing parties. Before any agreements are reached, the divorcing parties should create an accurate budget to help identify their current and future financial needs. Additionally, the divorcing parties should have a full understanding of their current and future income streams. Once the budget and income source information have been established, the parties can create a financial plan which sets out how assets and debts will be divided, and how any alimony or child support payments will be determined. The financial plan should be created in accordance with the relevant South Dakota laws. It is important that each party work in good faith to come to a fair and equitable agreement on all financial issues. Additionally, both parties should consider establishing post-divorce financial goals such as developing a retirement plan and/or college savings plan for any children of the marriage. If one party is seeking alimony or spousal maintenance, the other party should consider the long-term impacts of the payments. To ensure both parties comply with the financial plan, they should consider consulting with a financial advisor or a neutral third-party to review and monitor all financial decisions. In conclusion, pre-divorce and post-divorce financial issues in a collaborative divorce in South Dakota are best addressed through open and honest discussion. The parties should work together to create a financial plan that is fair and meets their needs and obligations. Both parties should seek out the assistance of a financial advisor or neutral third-party to help review and monitor their decisions.

How do I handle pre-divorce and post-divorce financial issues in a collaborative divorce?

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