5 Helpful Tips When Filing for Divorce
The divorce process is one of the most stressful times for many, and it can easily bring out the worst in people. In some situations, some even see divorce as a way to seek revenge on a spouse by going after as much money and as many assets as possible.
Though divorce is a way out of an unhappy marriage, it can exhaust you financially if you don’t know your rights. These helpful tips from top divorce attorneys will help you protect your assets and come out on top.
Don’t let emotions influence financial decisions
Divorcing parties often try to take out hurt feelings on exes, but it is important to try and separate your emotions from the business transaction at hand. It may feel good in the moment, but being spiteful can hurt you in the long run. For instance, having your lawyer write a letter to your ex over who gets something small like a coffee table can cost upwards of $500 in legal fees. It just isn’t worth it for small assets.
Make your large purchase before filing for divorce
If you’re considering making a large purchase like a new car, we advise you to make that purchase before filing for divorce. This is because most states issue financial restraining orders which prohibit making large purchases or liquidating assets after the divorce complaint is filed.
Gather the proper evidence before filing
It can be hard to not walk out on a spouse on an impulse when you’re thinking of getting a divorce, but it’s much smarter to take your time and collect evidence before filing. Take pictures of assets and make copies of account statements before doing anything. Good preparation is key if you want to come out ahead in court.
Don’t hide assets
You might be tempted to conceal or hide assets from your spouse, but there are legal repercussions to doing this. If you’re discovered to be hiding assets, you not only lose much of your credibility in court, but there can be severe monetary penalties as well. The best course of action is to just declare all assets up front.
Consider mediation
Divorce is expensive, there’s no doubt about that. In fact, the average cost of legal fees surrounding a divorce is $15,000! One of the most effective ways to decrease the overall expense is to hire a mediator.
Mediators don’t work on behalf of either party, but they allow both parties to work together to come to an agreement. Working with a mediator allows you to keep the details of your divorce behind closed doors while cutting costs at the same time.
Because divorce is different for every couple, the division of marital assets and liabilities can be incredibly complicated to resolve fairly. That’s why it’s important to work with a team of experienced attorneys like those here at the BCN Law Firm in The Villages. If you would like to discuss your case or have questions regarding the divorce process, call us today at 352-775-4739.
