Divorce proceedings can take a serious toll on both your emotional well-being and your wallet. Forbes reminds readers that people who divorce earlier in life have more time to recoup their financial losses, but individuals who separate much later may never be able to regain their footing entirely and retire comfortably.
According to LIVESTRONG, ending a marriage can also lead to depression, which might cause you to make poor financial decisions following the proceedings. The most effective way to protect your financial and emotional health during divorce proceedings is to keep your best interests a priority at all times.
If you are considering leaving your spouse but you are not sure how to proceed, turn to the Elliot Green Law Offices. Call 718-260-8668 to schedule a free 30-minute consultation with a family lawyer in Brooklyn.
Let’s explore a few of the most common mistakes that people make during divorce proceedings:
- Failing to Adjust Financial Expenditures
Even amicable divorce proceedings cost money, and once they are over, you may only have half of the assets you started with because your spouse took the rest. If you do not acknowledge that your financial situation is going to change following the divorce and you fail to make adjustments during the proceedings, you may rack up debt that you cannot pay off once you become a single-income household.
- Failing to Disclose Everything to Your Divorce Attorney
Your attorney will serve as your ally during the proceedings, and he or she is always on your side. In order to protect your best interests effectively, your lawyer needs to know everything.
Do you have any hidden bank accounts or additional income that you have kept from your spouse? Discuss these scenarios with your attorney so together you can determine the best way to proceed.
- Settling Too Soon
Amicable mediation and an early settlement might sound ideal, but you could end up hurting yourself in the long run if you settle too early. Do not settle the case without taking a thorough inventory of your marital assets first, and get it all in writing. If you later learn that your spouse has a hidden account, you may be eligible to claim the entire amount because you can prove that your ex did not disclose it on your list of assets.
- Allowing outside Parties to Make Decisions for You
Your attorney ultimately wants to protect your best interests – but not at the expense of your happiness. Make sure you take an active role in the divorce proceedings, and do not let your lawyer make all the decisions for you. For example, if your attorney can secure you the family home but you genuinely do not want it, you do not have to pursue it.
Family law is complicated, and every divorce case is unique. Although there is no one-size-fits-all approach to these proceedings, a skilled family lawyer can help you avoid costly mistakes.
If you would like to discuss your case with a divorce attorney in Brooklyn, turn to the Elliot Green Law Offices. Call 718-260-8668 to schedule a free 30-minute consultation. Visit the USAttorneys website to learn more about divorce laws in New York.