DIVORCE EDUCATION BY DIVORCE SPECIALISTS
ONE LAST LOOK is unique to Oak Tree Mediation. It was developed from our years of experience working with couples facing divorce. It’s a process that allows couples to look at divorce before starting down that road. It helps you evaluate your options, strategies and outcomes before starting the divorce process.
People coming in for divorce mediation have many questions, including:
ONE LAST LOOK explores your unique relationship and how divorce may affect it. It gives you answers to these questions, and much more.
YOU’LL LEARN ABOUT:
1. Assets and Liability:
What are your assets and liabilities. How assets are valued and divided, and what that means to you.
2. Support Payments:
What might the options be. How, for a tax and cash-flow perspective, be structured. How you may be able to use current tax law to maximize your options.
3. Retirement Plans:
What options are open to divide a pension. The rules that allow one spouse to take a pension distribution without paying the 10% early withdrawal penalty. Options for dividing public and government plans. The difference between IRAs and pensions and how that impacts you. Dividing stock options and bonus payments.
4. When A Business Is Involved:
How a business can be divided. Structuring buy-out arrangements. The reality of “double-dipping” into a business.
5. The Process of Divorce:
Structure of financial affidavits. Rules about disclosure. Concerns about hidden assets. The options for a divorce without going to court. The methods and importance of using legal counsel in divorce.
WHAT’S ARE THE ROLES IN ONE LAST LOOK?
YOUR ROLE. Your job is to complete a questionnaire. It’s very detailed and requires an accurate, honest assessment of your finances.
Its purpose is to compel you to look at your financial world in a way that may not be comfortable, however, it is essential. We ask for very specific details to see a more complete picture.
This questionnaire allows you both to see if you have a grasp on what’s happening in your financial world. Often, one spouse handles the finances in a marriage. This process bring all the information to light. It is often an important wakeup call to anyone considering a divorce.
OUR ROLE. Depending on the level of service in One Last Look™, we can take the information you provide and put it into a financial profile.
This allows us to show you options and tax consequences of asset division. It can also give some ideas about the issues for support. Because support has so many elements that involve legal advice, we encourage couples to has representation that is supportive of the mediation process.
As a neutral, we provide a picture to help you become more aware of what may be your options. This information is shared with you both. There is no hiding of assets or information.
This is a reality check and a financial analysis. ONE LAST LOOK reveals what your world may look like if you choose to move forward with divorce.
Fees for One Last Look is a four-hour meeting with two professionals. The fee ranges from $695 for the basic service to over $3,000 for a complex financial situation. The basic service is a review and discussion about your issues conceptually. This is sufficient for most couples.
The full service includes input of information in the disclosure forms, a tax estimation based on your information as provided and a more tailored meeting that looks at specific issues within our scope of expertise which is taxation and financial impacts.
Note that we are not attorneys and we do not give legal advice.