Getting divorced can be complicated, and you may feel like you just want to get things over with as quickly as possible. You know that your relationship is over, and you simply need to make that official in a legal sense.
While this mindset is understandable, it can also lead to some errors and mistakes that can really cost you. Let’s take a look at a few of the most common ones so that you can be sure to avoid them in your divorce.
Keeping a home that is unaffordable
Many people want to keep the home more than anything else. What they fail to consider is how their financial situation will change after the divorce. You do not want to spend the entire process fighting to keep a home that you quickly realize you cannot afford on your own.
Overlooking valuable assets
It’s easy to consider tangible assets, like a home or a car, or to think about financial assets you use frequently, like your bank account. But you may overlook valuable assets, such as a pension plan that your spouse owns, for which you may be eligible through the use of a Qualified Domestic Relations Order. Take your time and make sure you carefully consider everything.
Attempting to alter or hide your assets
It’s understandable that you may not want to divide assets with your spouse. It may feel unfair, especially if they filed for divorce. But you should never attempt to hide assets or alter what you report in court. This can be seen as fraud and can have serious ramifications.
Using divorce to get even
Divorce also isn’t a time to get even and you never want to do anything out of spite. Attempt to set your emotions aside, even when those emotions are certainly warranted, and make decisions simply based on the facts of your case. This often makes the process faster and smoother.
Moving forward with a divorce
These are just a few of the many things to keep in mind during a divorce. Be sure you understand all of the options you have and the steps you’ll need to take.