“How Do I Know if I’m Making the Right Decision?”
This is one of the most common dilemmas that people face in negotiating divorce, custody, alimony, equitable distribution and child support issues. In fact, the fear of making the wrong decision can paralyze people and prevent them from making any decisions.
In my last blog post, I talked about the negative impact of indecision. The fear of making the wrong decision is one powerful fear that feeds indecision.
However, in a divorce context or any other, making decisions in the face of uncertainty it is critical.
The fact of the matter is that there are poor, better and best decisions. But, there are rarely right and wrong decisions. There are great decisions that turn out poorly and terrible decisions that work out well. No one has a crystal ball, and even the best analysis and prediction can be laid waste by future events. Life, as they say, is uncertain.
Nonetheless, decisions must be made. The best way that I know to handle the discomfort of making difficult decisions in the face of uncertain outcomes is from the book Difficult Conversations by Douglas Stone, Bruce Patton and Sheila Heen of the Harvard Negotiation Project.
These authors give the following advice:
“Don’t spend your time looking for the one right answer about what to do. It’s not only a useless standard, it’s crippling. Instead, hold as your goal to think clearly as you take on the task of making a considered choice. That is as good as any of us can do.”
That is tremendous advice in both divorce and life.
Most people who get divorced do so without the benefit of a tax expert.
They get tax information and/or advice from their divorce attorney. However, as this Forbes article points out, divorce lawyers are not the best tax advisors.
In fact, most divorce lawyers go out of their way to disclaim any liability for tax advice in separation agreements and fee agreements.
So, if you are getting a divorce, and you can’t rely on a divorce attorney for expert tax advice, what do you do?
Collaborative attorneys figured this out a long time ago. In a collaborative divorce case, expert tax advice comes from the financial neutral.
The financial neutral provides unbiased neutral information and advice about tax issues that relate to divorce. That way, both parties get the same information at the same time. And, they are not getting in unnecessary conflicts due to differing tax advice from either their attorneys or their own individual tax advisors.
And here’s the best part about financial neutrals in collaborative divorces: A good piece of tax advice can save tens of thousands, if not more, for the couple. One small piece of information can have a huge impact on the financial futures of both clients.
On the other hand, the absence of that information can have a huge negative impact on both clients.
Tax issues are another big reason to take advantage of the collaborative process and the financial neutrals that help clients in the process.