When it comes to your divorce settlement, there are many financial mistakes that can be made. Divorce is already an expensive time and we want to help you sort out other financial matters so that aspects go as smoothly as possible. Consider these tips for a simpler divorce, because nobody needs the added stress.
Financial Mistakes to be Avoided
Staying in the Dark: Some people put themselves in a situation where they become a financial victim. You never want to be in the dark about finances, especially if your spouse has always handled all of the financial decisions in the household. Your spouse might be in a position where they have an unfair advantage over you when it comes to settlement of financial issues if they are in charge of all finances.
This is why it is important to get all the information you can, such as access to all financial records that are possible. You want everything that relates to your marital lifestyle like checking account, tax returns, and more. Protect yourself while you can.
Turning a Blind Eye to Mediation: Before you go to court over these issues, it might be a good idea to first consider mediation. You could save thousands of dollars in legal fees when it comes to the mediation process. Your mediator will not act like a judge and will help you come to an outcome that works for both of you. If your spouse is unwilling to compromise or there are other factors involved that keep you from doing so, court might be for you.
Trying to Punish Your Spouse: Hiring an attorney with only revenge in mind will hurt your bank and probably not theirs. It means more hours working on your case and higher costs for you, which you want to avoid.
Inaccurate Budget: You might underestimate your living expenses when you are going through divorce. You want to be prepared for the bills that you might encounter after you have gone through a divorce, because it might not be as easy as it seems.
Emotional Attachment to Assets: Don’t become emotionally attached to assets such as your residence, your pension, or something that you purchased together during marriage. You might not realize that, in the end, you can’t actually afford these things. It is important to be sure about everything before you fight to keep it.
We can help if you are going through a divorce and have to get your finances in order. You have many options when it comes to your case and we will stand by your side. Call us for more information at the Montes Law Firm.