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She needs to look at her arbitration award and determine if it is binding or non-binding. However, you mention "divorce decree", which indicates that it is already made an order of the court incorporated into the divorce judgment. That being said, depending on the issue, some items are modifyable under certain circumstances and some not. The fact that something is not in her very best interest will not be the determining factor, however, as the results of divorce are generally, by nature, far from either party's best interest - and it is usually a significant compromise by each. Rather, if circumstances have changed significantly enough, that can be the most promising grounds for a modification - i.e. child support will change if either party's respective income changes substantially. Also, if she can establish that the ex was less than truthful in his disclosures on assets or liabilities, thus impacting distribution of assets, she may have an argument for modifying the distribution. Custody modifications are also fair game, based generally on the best interests of the child.
If her lawyer was less than vigorous in her behalf, I would seek counsel elsewhere, as you suggest. In addition, if he/she was actually poor/incompetent, she may want to consider filing a complaint with the state bar/ethics board.
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Your description of her lawyer as "less than vigorous" is very close. He also agreed to things at the arbitration and at other times without consulting her. And, failied to entertain or address various issues she'd mention. I've never seen a worse outcome of a wife who is a social worker married to a trauma doctor as it relates to a divorce settlement.
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