Blog posts tagged in divorce financing
Going through a divorce can be emotionally devastating, to the point that you feel depressed, anxious, and have difficulty concentrating. When your mind is not functioning properly, you may make mistakes that you will later regret. Here are some common divorce mistakes to watch out for.
Relying on the wrong advice. Your recently-divorced cousin in Texas and your twice-divorced aunt in Indiana may have all kinds of advice for you. But the divorce laws in those states are different than the laws in Illinois. Listen to your local lawyer when it comes to matters of the law and the court procedures in your county. You may also want to consult a certified public accountant or certified divorce financial analyst to help you with financial projections and tax implications....
With the holiday season officially coming to a close, we are headed into a time when divorce rates are the highest. Unfortunately, many couples are also recovering from the end-of-year financial burdens, which can sometimes lead to taking tempting but dangerous shortcuts in filing. Avoid making this common mistake by knowing which cost-cutting options are a good idea, and which are best avoided.
Manage the Details in a Peaceable Manner
Long, drawn out divorce battles can end up costing thousands of dollars in attorney and court fees. Alternatively, there are couples who try to go at it without the help of an attorney and then end up regretting the decision later when the negotiations get out of control. Avoid both of these issues through either divorce mediation (one attorney serves as a third-party negotiator) or collaborative divorce (each couple hires their own attorney but chooses to work cooperatively to achieve an uncontested divorce).
The old adage states that money can be a great equalizer. Those who are in the middle of a divorce are definitely able to attest to that claim, especially when it comes to divorce proceedings. In many cases, in divorce proceedings, or in other civil and criminal actions, the amount of available funding for these legal activities can greatly influence one’s case. It could make the difference between more than just winning and losing, but also the extent of property that each party may be able to acquire after equitable distribution.
Financial Issues Resulting from Divorce
Though many married women are currently employed and many are the breadwinners of the family, there are still many instances where women are still at a disadvantage financially because of a disparity in income due to the wage gap seen between the sexes, or a decision to stay at home with the family. These issues are exacerbated by the fact that divorce settlements can drag on for months and even years, especially when the relationship becomes acrimonious as a result of the divorce.