Every divorce is unique to the divorcing couple. Every divorce is also uniquely complicated. There are, however, three common divorce traps that can trip any divorcing couple up. While no one enters into a marriage thinking that it is going to end, many marriages do end in divorce, and the divorce process can become very complicated very quickly. If you are facing a divorce, knowing the most common divorce traps can help you take the steps necessary to avoid them.
Accepting a Settlement that Does Not Take Future Events into Account
One of the most important aspects of any divorce is dividing your marital property in a manner that is just and right, which amounts to dividing your assets in a manner that is fair given the circumstances – but not necessarily equal. Many people who are going through a divorce cannot see past the present and end up accepting settlements that do not protect them well enough into the future. An experienced Killeen divorce attorney will help you explore what your future could hold and help ensure that you take these future possibilities into careful consideration when hammering out your divorce settlement. These future developments can include setback such as:
- The loss of a job
- A change in you or your children’s health
- A depreciation in your assets
When you are signing off on your divorce settlement, it does not pay to be shortsighted. Planning for the possibility of unforeseen hardships can help.
Clinging to Unrealistic Expectations
Divorce means that both of you will experience a change in lifestyle. Financial trade-offs are inevitable, but if you plan carefully and accordingly, your expectations will remain in line with the reality of your divorce. Moderately dialing back your spending early on can help you move forward with greater financial confidence.
Ignoring the Details
Even fairly straightforward divorces hinge on the details involved. If yours is a high asset divorce, is financially complicated by business ownership or anything else, or is highly contentious, carefully managing the details is critical. As soon as you recognize that divorce is likely in your future, it is time to begin collecting the documentation upon which your divorce will be determined. The more thorough and organized you are in your information gathering, the better prepared you will be to move forward toward divorce.
In complicated divorces, getting a handle on financial documents and information early on can help ensure that you know what is at stake and that you are well-prepared to advocate for a just and right division of your marital assets.