Page 20 - Expert Issue 2015 (2)

MANAGING THE COSTS OF

YOUR DIVORCE

By Carlie Headapohl, CDFA
Photo Courtesy of Carlie Headapohl

“You may not control all the events that happen to you, but sionals charge for their time. Ask about retainer fees and closely
you can decide not to be reduced by them.” - Maya Angelou … read their contracts. Typically, lawyers charge in 1/10 of hour incre-
nor your wallet in the case of divorce. In the United States, the av- ments, which is 6 minutes at a time. If you call your attorney when
erage cost of a wedding is $28,000 and the average divorce costs you are highly emotional, at $300-$500 per hour, every 6 minutes
$15,000-$20,000 and can vary significantly. of venting could cost you $30-$50!

CONFLICT IS EXPENSIVE: First and foremost, conflict costs; the Going into divorce emotionally strong, educated about the process
more conflict, the more cost. Before meeting with attorneys, try to and understanding your priorities will not only help reduce the
work out the emotional, financial and non-legal issues outside of financial costs of divorce, but the emotional costs as well.
your attorney’s office. Remember, attorneys are not therapists or
financial planners so try to take care of as much as you can with Carlie Headapohl is a Certified Divorce Financial Analyst (CDFA)
other qualified professionals. Their hourly rates tend to be lower with a BS in Finance and Accounting from UC Berkeley. For over
than those of attorneys. 25 years, Carlie has been involved in all aspects of corporate and
personal finance and specializes in helping high net worth clients
KNOWLEDGE IS POWER: The other major factor in controlling with complex asset portfolios. She is dedicated to helping her
the cost of divorce is to be prepared. If you educate yourself on divorce clients optimize their financial settlements by providing
the divorce process through books, divorce workshops, divorce thoughtful, thorough and objective financial analyses.
coaches and other numerous resources throughout San Diego
County, it will enable you to manage the process better. In particu- Carlie brings her extensive experience developing common sense
lar, learn about the various alternative dispute resolution methods solutions for simple and complex financial situations. Her skills
including mediation, collaborative divorce, cooperative divorce and include budgeting, projections, asset tracing and valuation, tax
pro se (do it yourself) divorce. These methods allow the divorcing implications, real estate related transactions, financial planning,
couple to retain more control and help reduce the emotional and education and organization. She prides herself on excellent client
financial expenses of divorce. service through responsive communication and by distilling finan-
cial information into clear and concise financial analyses.
GET ORGANIZED: Do not underestimate how important organi-
zation is in the divorce process. The process requires gathering Carlie is an active member in the investment community through
legal, financial and tax documents, and it can be overwhelming. her affiliations with WIFE.org (Women’s Institute for Financial
Consider hiring a CDFA (Certified Divorce Financial Analyst) to Education), Institute of Divorce Financial Analysts, Association
help you gather all the necessary documents and the CDFA or of Divorce Financial Planners, affiliate member of the San Diego
other financial expert can more cost effectively help you analyze Family Law Bar Association, and the Rancho Santa Fe Women’s
and prepare the necessary financial disclosures. Fund. She volunteers for Second Saturday Divorce Workshop for
Women and Third Saturday. You can learn more about Carlie on
ASSEMBLE A GOOD TEAM: For many people going through her website and LinkedIn profile.
divorce, they and their children may experience some or all of the
five stages of grief; it will likely be the largest financial transaction Carlie offers a complimentary initial consultation and provides
of their lives and divorce is a legal process. The ideal team should her services on an hourly fee basis.
include a marriage and family therapist for spouses and children, a
CDFA and legal advisor. Each situation is different, but assembling Your Money Advocate
a team of qualified professionals can dramatically improve your carlie@yourmoneyadvocate.net
divorce process and the outcome. 858-342-7756
www.yourmoneyadvocate.net
UNDERSTAND COSTS: The nuts and bolts of how to manage the
divorce meter, is to understand how attorneys and other profes-