What not to do when facing divorce

Mar 19, 2021 | Divorce

When you are facing a divorce, you feel a gamut of emotions: hurt, anger, frustration and relief. At some point, you may decide you want to take matters more into your hands to gain a sense of control. You are tired and annoyed with the fact you have to negotiate so many financial decisions in court.

However, you need to be careful. You could make some decisions that ultimately hurt your financial settlement after divorce. So here are some common missteps you want to avoid include the following:

  1. Giving away property to friends and family, to avoid having to split those assets with you ex. You maybe bought a new boat this summer or the cool sportscar you always wanted. Giving your best friend or brother or parents this item before you divorce can make it look like you are trying to hide your assets, which is illegal.
  2. Taking your spouse off your health insurance. Part of your divorce will be negotiating health insurance costs. If you have a separation agreement, you may be responsible for your spouse’s coverage until the divorce finalizes.
  3. Moving out of the marital home. If you want custody of your children, you may want to avoid moving out of the marital home. How much custody time you receive often is based on what’s in the best interests of your children. Showing that you still have an active presence in their lives, picking them up from school or different activities and helping care for them, can help you gain more custody time. You also can avoid paying additional rent or mortgage costs.
  4. Not working with an experienced divorce attorney. Going through a divorce is complicated and can feel overwhelming. You want to have a trusted advocate who can help you record all your assets, divide your assets equally and reach child custody agreement, in a timely fashion.

Avoiding these common divorce pitfalls can help you avoid adding stress and complicating factors to your divorce. You can move forward with your divorce more smoothly, doing your best to preserve your future financial outlook.

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