- Posted by Jacob Gordon
- On July 24, 2023
Michael Fried’s firm helps individuals going through divorces and handles family law issues, including orders of protection and prenuptial agreements. The firm offers three ways to resolve disputes: mediation, collaboration, and litigation.
When discussing the steps necessary for someone contemplating a divorce, Michael emphasizes the significance of organizing their finances. He highlights the “big four”: income, expenses, assets, and liabilities. It is crucial to determine one’s income, budget after divorce, assets (checking, savings, brokerage, and retirement accounts), and liabilities (credit card debt, loans, and student loans) to make informed decisions during the process.
Not all clients approach Michael already organized. Michael notes that he wishes more clients were organized, but many come with varying levels of preparation. Some arrive with shopping bags of financial documents, while others have no prior financial information ready.
The emotional impact of contemplating divorce while trying to be organized is a challenging aspect. Michael stresses the importance of having a support system, including therapists and financial managers like Peter, to help clients cope with the emotional stress and better understand their financial situation.
When asked about referrals, Michael explains that most of his clients come through word-of-mouth referrals from prior clients. He also receives referrals from accountants and financial advisors. Surprisingly, professionals like hairdressers and bartenders can be unexpected yet valuable sources of referrals due to their broad networks.
Moving forward, Michael outlines what a client should bring to an initial consultation. Besides relevant financial documents, he advises clients to come prepared with a list of questions to ensure nothing is overlooked during the consultation.
Michael encourages those in need of legal assistance to reach out to him for a free one-hour consultation.
Phone – (212) 466-6015
Email – email@example.com