Divorce is likely to be the largest financial transaction of many people’s lives, and it’s a highly emotional time as well—a time when, says Bruce Fraser of bankrate.com, “Anger, greed, sloth, pride, lust, envy and gluttony are all part of the ugly undertow in any negotiations involving divorce.” Even if you’re not dealing with deadly sins, be sure to work with an experienced divorce attorney whom you trust to conduct these often-difficult financial and property division negotiations on your behalf.
It’s a good idea to prepare for the divorce negotiations by knowing as much as you can about your financial situation at the start. You will be able to support our attorney in making the best case possible for the results you want to achieve. Here are some thoughts on how you can improve the negotiation process and results:
First, get organized. “Ascertain your total assets and debts. Make copies of all your financial records, including bank and investment statements, tax returns, insurance policies, deeds and so forth,” said Fraser. . Do your homework. Ask your attorney to educate you about the laws that will apply to your situation. Understand your rights and obligations under the law.
Be clear in your mind about what you want to achieve. Is it time for a reality check? “Make sure that you are not the one who is being unreasonable,” advises Karen Covy in the Huffington Post.
Separate your emotions from the negotiation process if you possible can. Your attorney can help you see things clearly and calmly. Think also about what your spouse likely wants and needs, to make it easier to get to “win-win” and even to be amicable.
Custody and visitation agreements of your children are very important. Judge care about children, and will think long and hard about what you propose and what is best for the kids.
Know how much income you will need, and develop a budget to help guide you. Know what you want, and what is most important to you, and what you could trade off to compromise. Don’t short-change yourself; life after divorce means paying bills on your own.
The seasoned family law and divorce lawyers at the McGrath Law Firm, founded by attorney Peter McGrath, will walk you through every step of the challenging divorce process to address your concerns and achieve your goals as efficiently as possible. From spousal support, child support, fault, and equitable division of property and debt to valuations, pre-nuptial agreements, and restraining orders, the experienced attorneys at McGrath Law Firm have a successful track record in all aspects of divorce law. Call us to schedule your consultation at (800) 283-1380.