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Financial Facts you Need to Know During Your MN Divorce

divorce divorce mediation financial facts in divorce Sep 22, 2022
Financial Fact MN Divorce St Paul MN Divorce Mediator

For many of us, finances evoke negative emotions; add in a divorce and the emotions can grow to blistering proportions.  Here is a little secret, the more you understand your finances and what assets you own, the greater peace you will have.  Koski Law & Mediation in St. Paul, MN helps its clients gain a clear understanding of their finances before the divorce process even begins.  


If you think you may be headed for a divorce look at your finances first.  I say this for two reasons.  First, some of my clients have actually stayed together when they dealt with their financial issues.  Problem solved and they were ready to stick together.  Not everyone has this outcome. For many the reason to divorce is more than the mere finances.  That being said, it is the most important first step during the divorce process.  

Before you even sit down with a Divorce Attorney (or an Attorney turned Mediator like me) have your financial information in order.  When you chose to work with Divorce Attorney Lesa Koski at Koski Law & Mediation, you will be given a detailed excel worksheet to list your assets and prepare your budget.

A budget is a healthy practice in our everyday  lives, don’t be ashamed if you don’t have one.  I dragged my feet for years.  My budget spreadsheet will help you remember all the things that you are paying for each month.  Now you just sit down and put in the amounts.  Once you have an understanding of this you know how much you need to survive.  

Divorce is a big circular dance where we groove in Alimony and Child Support.  How you divide your assets, if and for how long you will receive Alimony:  all depend on how much you are bringing in and how much you need to survive.  

Tune into this week's episode of Doing Divorce Different and hear from Victoria Kirilloff, who gives us some incredible financial tips. Victoria dives into how women can prepare for divorce by creating a budget and understanding their future finances.  She also shares a fun fact about the difference between men and women regarding spending. Victoria walks us through some great mindful spending tips to help us evaluate if we need to make a purchase. Tune in to learn more about how women can be financially and emotionally ahead of the game regarding finances in all aspects of their life, especially during divorce.

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