Let's look at a divorce plan.

Brendan's Initial Offer: Brendan suggests that Ashley gets the house ($300,000 equity) and $50,000 of Brendan's retirement account. Brendan will get the remaining $350,000 therefore splitting the assets equally. Brendan will pay $1000/mo alimony for 5 years and $800/mo child support. Ashley earns $92,000/yr and Brendan earns $172,000/yr. Does this sound like a fair settlement to you?

Brendan's initial offer shows that within 10 years, Ashley's assets are gone (including the house) while Brendan's net worth has increased.

Using divorce planning software for cash flow modeling, a financial divorce specialist can show the result of Brendan's proposal and any other proposal that either spouse suggests.

The final solution shows how more alimony for a longer period of time and decreased living expenses helps Ashley while Brendan is still able to increase his net worth.

10 Costly Errors To Avoid When Going Through a Divorce

• Not evaluating the defined benefit pension plan correctly
• Not understanding the 72(t)(2)(C) section of the tax code
• Not understanding the purpose of a QDRO
• Not protecting the survivor benefits of the non-employee spouse
• Violating the front loading of alimony rule
• Not understanding the link between length of alimony and child support
• Not insuring alimony
• Not understanding that the wife should not always get the house
• Not considering the basis in property
• Not consulting a financial divorce specialist