7 Common Financial Mistakes Divorcing Spouses make & how to avoid them


Divorce should be a process in which a civil marriage is dissolved and then the former spouses should agree on what will happen to the custody and division of property. And at that point, complicated processes and lawsuits begin. Many divorces are a parade of measuring power and who has managed to hire a better lawyer. Stubbornly or for personal gain, some couples are willing to spend years and years suing each other, only to gain as much material benefit as possible, especially if they run a business together or have a rather expensive joint property.

Divorce, in addition to draining your pockets and payment cards, is also a major emotional and mental burden. Many do not realize this until they themselves enter into such a process. Many individuals make costly mistakes at this stage, which they realize later when their emotions have subsided, that they did not need them. Some divorces are the result of an agreement between a former couple, but sometimes they are one-sided and the other feels cheated and betrayed.

Whatever your case may be, what you need in the first place is legal representation, and it is best to choose an expert who specializes in family law. Take a look at the following link: https://cainandherren.com/family-law-services/.

We can conclude that the legal divorce is the official one when you and your partner no longer have any obligations under the institution of marriage. But how do you prevent costly mistakes in the whole process? We are here to help you:

1. Expensive lawyers and constant filing of lawsuits


Of course, you need a good lawyer, but in such situations, the outcome is known. Save money by recognizing in time if your lawyer is teaching you to file a lawsuit against your ex-spouse just to make the process as long as possible. The longer the process, the more expensive they will charge for their legal services. But, when it is known that the whole case will end with the termination of the civil marriage, it is enough just to advise you what to accept, and to keep it all as short as possible, so as not to get stuck in the legal whirlpool of lawsuits and courts. Many lawyers use clients’ vulnerabilities to prolong the process, and this is a really costly mistake that many spouses will not notice right away.

2. Financial victims on the other side


This is something that often happens in divorce proceedings. Sometimes, unknowingly, you can fall victim to your ex-spouse. Together with their legal representative, they can manipulate their shaky emotional state and abuse it for personal gain. The sooner you notice that you are paying for something that is not your duty, the easier it will be to get rid of it all and save money.

3. Avoiding mediation in the process


The mediator can greatly shorten the endless processes and help to finalize the divorce in a reasonable time. Many couples think that they will save if they do not include a mediator in the negotiations, but the truth is that he or they can make a significant contribution to saving money. In this way, the endless lawsuits that delay the end of the dispute between the ex-spouses are overcome.

4. You believe that the dispute can be resolved by a 50/50 division

In no case can you rely on it. Even in the most ideal scenario, one would always get something more. Many partners even give up material benefits, only to complete the litigation faster. No matter how hard you try, you can not hope that one will get custody of one child and the other over the other, or that the joint property will be divided in half. Even if you succeed in such a thing, you will not always be satisfied with what was declared as yours. And when it comes to children, many partners decide that they stay with the parent who was more present in the upbringing. Except in cases where through children, the partners take revenge on each other.

5. Insisting on high alimony

A partner who does not have dominant custody is not always able to pay you high child support. This is decided by the court, based on their regular income. Sometimes the parent who gets custody becomes greedy, so he initiates legal proceedings against the other, in order to extract as much money as possible on the basis of alimony. However, this is not always possible and ends up costing more than the annual amount you would receive for your children.

6. You are trying to punish your partner


Believe that lawyers know how to recognize this in their clients and use it to their advantage. They will find all the legal pitfalls you can get your ex-partner into, but what you may not be aware of is that you will be stuck in that loop yourself. You will spend money, you will try to delay the process, and the lawyer will charge you all for it. Would you like to get stuck in such a whirlpool? It will not save your marriage for sure, because when you are already at this point, only the formal finalization of the process remains.

7. Agreements that are too good to be true

Be careful with these documents, with which you give consent to the requirements of the other party or you fall for something that would theoretically benefit you, and in practice, you will only be a squeezed wallet that is useless for anything else. There are too many emotions and outbursts in these processes, but keep a good upbringing and manners and look at any unrealistic requests again and detect suspicious moments that can be exhausting for your finances.

Finally, we wish you a lot of strength and patience in this process, because you really need it. Do not be driven by emotions. You will survive this in a short time. Do not let empty promises leave you with an empty wallet, no matter how much you think you could be the winner in the dispute.