It is a natural part of life for mistakes to happen. But making a major misstep during a divorce can cause lasting and harmful repercussions for you and your family. Relying on the advice of a trusted family law attorney will help you avoid making these top three mistakes.
- Battling Solo
In an ideal scenario, divorcing parties should treat one another with mutual respect while engaging in beneficial discussions about finalizing their divorce. This leads to far more productive results, compared to when parties dig in their heels and prepare for a prolonged battle. The dichotomy is that divorce is often precipitated by feelings of distrust and animosity, which can lead to adversarial positions in the divorce process. Often, letting your family law attorney
take the lead and negotiate on your behalf provides better results. The family law attorney can handle the animosity which allows you to focus on the financial and parenting decisions, rather than becoming entrenched in the emotional battle. The result is a better resolution for all involved.
- Overlooking a Qualified Domestic Relations Order
A Qualified Domestic Relations Order (QDRO) is a legal document that addresses how to divide a qualified retirement plan, such as a 401(k)) or some pension plans. These plans often cannot be divided without a QDRO, which orders a plan administrator to pay the non-employee spouse either an agreed-upon amount or a court-ordered sum. Because the QDRO is pursuant to divorce, it permits division of the account without penalty or tax.
- Ignoring Your Long-Term Needs
Although it is tempting to see divorce as just “something to get through,” the reality is it will have lasting long-term effects on your future and your family. Focusing purely on the present situation for asset division, spousal maintenance and child support usually fails to consider how circumstances may change in the years following the divorce.
You should consider including a certified divorce financial planner as part of your divorce team, which will ensure you have the financial expertise needed to make an informed decision about the long-term impact of any financial agreements.
If you have any questions about mistakes to avoid in your divorce, our expert team at Hallier Stearns PLC is ready to help. Contact us for a legal consultation to discuss any questions concerning your divorce.