Although divorce is the end of one chapter of your life, it also sets in place the building blocks of your future. This is especially true when it comes to your finances, which is why it’s critically important that you know how to navigate your marriage dissolution in a way that secures your post-divorce financial stability.
Therefore, you’ll want to avoid making costly mistakes that render you your own worst enemy when it comes to protecting your money.
There are a lot of mistakes that can be made during divorce. Here are some related to your finances that you’ll definitely want to avoid, as they could derail your ability to secure the post-divorce life that you want:
- Miscalculating your post-divorce living expenses
- Failing to take marital debts into account
- Making emotionally charged and reactionary decisions
- Neglecting to search for assets that your spouse has hidden from you
- Overlooking the importance of retirement assets
- Misunderstanding the tax implications of certain divorce settlement proposals
- Undervaluing marital assets
- Misestimating the cost of raising your child
- Fighting for marital assets that you can’t afford, like the marital home
There might be other mistakes that you can make along the way, too, so be sure to slow down, critically think through what you need to be successful in your post-divorce life, and develop a divorce strategy that works for you.
Planning for your future starts with a strong divorce strategy
Getting divorced can feel like the end of everything. But it isn’t. Yes, it’s the end of your marriage, but it’s also the start of something new. So, as you navigate your divorce, think through how you can develop a legal strategy to position yourself for the successful post-divorce life that you want.
