Take tax issues into account. Spouses can transfer property without paying taxes, but the original cost basis goes with the property. If part of your share of the marital estate includes assets that you plan to sell, remember that you'll have to pay the taxes. You'll also need to figure out how returns will be filed during the divorce period and if support payments will be deductible. You may also want an independent appraiser to put a fair value on a family business or professional practice.
Divorces frequently end up in court when financial information is withheld.
Paula Pace, a family mediator in New York City, says she recently had to halt mediation for a couple because the husband wouldn't agree to have his business appraised. That causes their divorces to cost them so much more money. Mediators, who are often lawyers themselves, can help you and your spouse work out the entire settlement, or at least resolve the thorniest issues. Lawyers, left to negotiate, can sometimes be such zealous advocates for their clients that divorce can take longer, be more grueling, and be much more expensive. Mediation can also provide time for a shell-shocked spouse to absorb what is happening.