The Coronavirus pandemic will change the scope of divorce negotiations. Generally, couples are under more strain now than they would have been at this same time last year. The health risk and stay-at-home orders are raising stress levels. The pandemic has also caused economic uncertainty and placed financial pressures on individuals and businesses. This will all have a big impact on divorce negotiations, and Hoffman Divorce Strategies is available to help guide you through the issues.
Framing Financial Strain
One thing it is important for couples to understand is that the financial strain is universal. Negotiations are always about compromise, now more than ever. Hoffman Divorce Strategies can help attorneys communicate with their clients to make sure they understand the short and long term effects of the pandemic on their finances.
Spousal and Child Support
Parties may feel entitled to a different spousal or child support payment than they would have several months ago. Again, it is important for clients to remember that the pandemic has impacted everybody. However, it is possible that changing conditions mean that one party to a divorce was impacted more than the other. Hoffman Divorce Strategies can help to prepare defensible reports showing the different effect of changing conditions on each spouse for divorce negotiation or litigation.
Adjusting Settlements to Match changing Market Conditions
When it comes to negotiating settlements amounts, the value of investments is also important to consider. When the market goes down, it impacts everybody that has money invested. Hoffman Divorce Strategies has recently been re-examining pending settlements since the market down-turn as the fluctuation in the value of different investments is not equal.
Moving Forward with Negotiations
The stress, financial and otherwise, caused by the pandemic is likely to make settlements more challenging. The financial pie has shrunk for most couples, and the strain of dealing with the pandemic is not going to help couples get along. This can make negotiation more difficult. A clear report showing the effects of recent events on a couple’s income and their community can assist your clients in completing their negotiations or preparing for litigation,
Hoffman Divorce Strategies can help guide you through the financial aspect of the divorce process as efficiently as possible. Contact us today at https://hoffmandivorcestrategies.com if you would like more information or if you would like to schedule a consultation.