Going through a divorce can be a tumultuous time, and just getting it over with is often the goal for many people. Striving to get along with each other through the process is another purposeful aim for many couples, but some family experts note that being too nice can cost you more money. Agreeing on spousal maintenance or child support is important, but being too amicable because of emotional ties can be expensive.
John Mayoue, author of “Protecting Your Assets from a Georgia Divorce,” advises that being amicable sometimes masks the cold reality that your spouse no longer considers your best interests. Being naive and not wanting to rock the boat can cause poor financial decisions when it comes to property division.
A common financial mistake some divorcing couples in Florida and elsewhere across the country make is not getting adequate legal representation. Lawyers work for clients as a neutral third-party offering legal advice that is often critical to a fair and protective outcome in a divorce.. Seeking a proven divorce attorney is a good first step to securing your financial interests in a divorce.
Another common error made by many divorcing women is keeping the family house because of children. Intuitively that might seem to be a smart move, but that is not always the case. You should consider the payments, repairs and taxes on the property. It may add up to more than the house is worth over a period of time.
Make certain that you have a clear understanding of your finances, not just for the first few months, but for years down the road. For instance, deciding who claims children on tax returns, or how retirement accounts and Social Security money is settled are important factors. This is the business side of a very emotional experience. Treating it as such can help ease your financial difficulty in the future.
Source: Reuters, “Divorce mistakes you can make by being too nice,” Geoff Williams, June 26, 2012