While statistics show the divorce rate in the United States is dropping, nearly four out of every 10 couples still choose to end their marriages. The process can be difficult for both spouses and their family to go through, especially if children are involved.
While every situation and family is different, there is a right way and a wrong way to prepare for divorce. Many couples, either unintentionally or intentionally, commit common mistakes that can hinder the process and can cause financial as well as emotional consequences.
Avoid these costly mistakes
If you are considering a divorce, here are some of the frequent missteps couples make:
- Letting emotions get the best of you: Divorce is a challenging process, and you will likely experience anger, sadness, grief and resentment. However, keeping a cool head during negotiations is essential for reaching the best possible settlement.
- Not putting your kids first: Children can make divorce even more complicated, but don’t lose sight of the big picture and making your kids’ well-being the top priority. Let the past go and focus on the future.
- Inaccurate financial information: If you want things to go as smoothly as possible, being honest about marital assets and debt is crucial to the process.
- Disregarding tax implications: Some divorcing couples aren’t concerned about how dividing or transferring their property, investments and money will affect their taxes. It’s crucial to work with a professional who understands the impact.
- Refusing to compromise: Chances are good that neither of you will get everything you want. You must be willing to compromise and find middle ground if you’re going to avoid a lengthy and more expensive negotiation.
Educate yourself before filing for divorce
Going through a divorce can be a complicated process, but there are many steps you can take to keep it from becoming a disaster. An experienced family law attorney here in Indiana can help you through this challenging period and represent your best interests, putting you on solid footing as you start the next chapter of your life.