Common Mistakes and Solutions in Divorce Process
Common Mistakes and Solutions in Divorce Process
Claiming unrealistic financial expectations
Divorce means dividing a couple's property into two. This goes a bit complicated when it comes to the family's income. Try to make your income cover the two households' scope (property). Plan ahead so you do not make excuses on financial issues.
Rejecting communication
It is easy to say put "I am not angry with my spouse", but it is actually difficult to take this into action. Eliminating anger within and participating in marital conversations will save you money from divorce expenses. If you wish to talk through your lawyers, then you must pay them every conversation made. Remember, you still have to support your family members, so avoid spending money from hiringdivorce attorneys. You can financially support your family without any second thoughts.
Engaging in an adversarial divorce
If you are wise enough, you do not have to engage in adversarial divorce. Divorce attorneyslove to handle clients who want to do battle in court. They will make more money than any other divorce services, as when spouses are less willing negotiate and collaborate with the other party. Choose to hire amediator who is willing to compromise your problems. Do not let yourself become reckless paying divorce attorneys and court costs for a long time.
Failure of comprehending "equitable distribution"
Most people think thatequitable distribution means a 50/50 split of marital assets. This is a totally wrong impression. Equitable distribution determines the financial situation of each spouse, both before and after the divorce, so that a fair distribution would take place in the process.
For example, if a woman does not have any personal asset (no work for decades, no marketable skills and needs to regain career), it is likely for her to be awarded more financially than her husband who is financially capable during the divorce.
Forgetting to take into consideration tax implications
Everything, including financial decisions hasconsequences. Either of them will point out who will claim their children as dependent. It pays to know what your settlement will cost you with tax additions.
Refusing joint finances and accounts
One of the most common complaints for divorcing spouses is their failure to untangle themselves financially from their partners. It is common for adivorce settlement to state that one spouse must refinance.
What people do not realize is that, when a spouse defies the court order of refinancing in the other spouse's name, there will be no legal recourse. If a court order didn't work the first time, it sure won't work for the second time.
Before or during the divorce process, all you need to do is to protect yourself and your assets. Get rid of your spouse's name in any joint accounts. If your home is owned conjugally, or you both hold any joint accounts, make sure that, such accounts must be separated. If your spouse refuses to make payments, then at least you can't be held responsible.
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