UH OH! WRONG WAY

MISTAKES TO AVOID WHEN CONSIDERING DIVORCE

There are some things to keep in mind when considering divorce. Things that could be detrimental to your divorce process and result in undesirable outcomes.

To name a few:

  • not being prepared: not providing required documentation
    ex. financials/bank statements, business, retirement, property, debt, etc…

    • The aforementioned mistake is the #1 challenge for attorneys for moving your case along.

  • overlooking the impact on finances

  • hiding assets or debt

    • JUSTIA has more info on hidden assets and your legal rights

  • rushing into decisions or agreeing prematurely to terms

  • lack of communication with your ex spouse and/or attorney

  • hiring the wrong attorney: someone that’s not a good fit for you

For more info on the costly mistakes of divorce check out:

What Happens When Only One Spouse Has an Attorney?

This is a really common situation in divorce cases. One spouse hires an attorney and the other either can’t afford one, doesn’t want one or thinks they can handle it themselves.

Below are some things that may come up:

Your Spouse Is Considered Pro Se

  • “Pro se” means representing themselves. Courts will allow it but judges tend to be more cautious and may slow things down to make sure the self-represented spouse understands what’s happening.

Delays That Can Happen

  1. Extra Time for Responses

  2. Hearings may take longer

  3. It can take longer to reach agreements

  4. Communication Breakdown. Everything may need to go through your lawyer in writing since your spouse doesn’t have one…this can make the process slower.

Bottom line: Be ready for some delays with the possibility of more bumps and a little more handholding from the court.

But also know that if your spouse simply doesn’t respond or participate, your lawyer can move the case forward (sometimes by what’s called default judgment).

CONTACT US for more info on What Happens When Only One Spouse Has an Attorney.

DECIDING TO MOVE FORWARD…WHAT TO ASK FOR IN YOUR DIVORCE SETTLEMENT

OK so you’re ready? Well let’s make sure to understand what a divorce settlement is and marital balance sheet.

IF you are not filing or going through an uncontested divorce and doing mediation or going to court with the help of a mediator or attorney (court) you may have access to a marital balance sheet. A marital balance sheet is an itemized document displaying assets and liabilities owned jointly or separately by you and your spouse.

The information on this sheet is supplied by your mediator or attorney after both you and your ex share financial information and documentation (Financial Affidavits or financial disclosure forms which can be called by a different name depending on your state) and other on sources of income and expenes to include assets and liabilities.

Things like:

  1. bank accounts (personal and/or business)

  2. tax returns

  3. vehicles

  4. property: (land, home(s): primary and/or vacation)

  5. owned private business interests (may require outside appraisal/business evaluation)

  6. retirement

  7. investments

  8. debt (credit card or loans)

Your marital balance sheet can help paint a clear picture as it pertains to calculating child support and alimony (spousal support or spousal maintenance) by accurately giving the value of each category item and dividing them equally.

A divorce settlement is the FINALE, the coming end of the divorce process. It’s the agreement or terms that you and your ex have agreed upon to be filed to the court as part of your divorce decree.

A divorce decree is your proof of the end or dissolving of your marriage. It is the legal and official judgement or document noting your divorce process has been completed. You will receive the decree from the court.

FORBES has more details defining what is a divorce decree, why it’s important and how to get another copy if needed.

Now what can you ask for: ANY and EVERYTHING! (or just about - within reason)…keep reading…

Now that also doesn’t necessarily mean you’ll get everything you want but you won’t know unless you ask.

Negotiations can be for various things. The typical things are custody, child support, division of assets, property etc..but you can also negotiate:

  • lawyer or mediator fees

  • mortgage

  • car payment

  • investments

  • retirement (401K, pensions, etc…)

  • alimony (spousal support/spousal maintenance)

  • pets, furniture, beds, kitchenware (Grandma’s china set or dishes) etc… yes you can!

WEALTHY SINGLE MOMMY has an article that discusses what to ask for in a divorce settlement agreement:

  • FAQs (Frequently Asked Questions) about property in divorce

  • Know what to ask for and what not to forget in a divorce settlement

  • What items are considered a GIFT and you KEEP

  • and more…