Divorce is never easy to talk about, but unfortunately sometimes it’s the best choice for a family or the individuals involved. Even after the hard decision of a divorce has been made, there are many other places where mistakes can be made during divorce proceedings. While these mistakes aren’t that uncommon, in fact many people fall into the same trap, they can be very costly for one or both parties involved. The best approach is to make sure you’re well informed before divorce proceedings in order to avoid these common and costly problems.
Mistake: Take Advice from Family and Friends
One of the worst mistakes that individuals make during a divorce is to take advice from family and friends, no matter how close they are. While you may value their opinions and they may have some similar experiences, it’s important to follow the advice of the experts. Finding a family lawyer that you can trust and you like working with is a very important aspect of any divorce. Your lawyer will be able to help you make informed decisions that will be best for you, your family, and your specific situation.
Mistake: Keeping the House
While it may seem convenient to fight for the family home, whether to keep your kids in their local school or to keep the memories and comfort, the family home is not necessarily something you want to fight for. In many cases, though not all, the family home simply costs more than a single individual can afford. This can cause many financial problems for whoever stays in the home, especially if they aren’t the main breadwinner. Think long and hard about whether the family home is something you can afford after the divorce is over.
Mistake: Generalize Assets
A divorce is not the time that you want to be general about your assets. Sure you don’t want your parents knowing exactly how much you make or how much debt you have, however, when you work with a family lawyer during a divorce, you need to be very clear about all of your assets. This could be the difference between gaining or losing thousands of dollars sometimes. Keep a clear record of all your assets including income, debts, properties, and even general living expenses.
Mistake: Filing for Divorce at Any Time
It may seem as easy as going to a lawyer and then serving your spouse with divorce papers, but a divorce is much more complicated than that. In fact, there is something to be said for considering what time of the year you’re filing for divorce based on assets. The best example is if you and your spouse contribute to a 401(k). If you are not the main contributor and you file earlier in the year, you will receive less than if you file at the very beginning or at the end of the year when the 401(k) vests for the year. In some ways, it’s very strategic as to when you file for divorce if your situation allows for it.
It’s easy to fall into any of the above traps or mistakes without knowing it if you’re going through a divorce. Trust the professionals at OMG Law Firm in Jonesboro, Arkansas to help you navigate all the tricky details. Contact us today for more information about our family law services.