On behalf of Kathryn Wayne-Spindler & Associates, PC posted in Property Division on Thursday, February 5, 2015.
Whether a person is the one filing for divorce or receiving the divorce papers, the thought of going through the divorce process can naturally be intimidating. This is particularly true for couples that have differing views on how their marital assets should be split. A couple of tips may help divorcing individuals in Michigan to be as prepared for a divorce proceeding as possible.
First step in avoiding common divorce pitfalls is, it is wise to avoid making divorce settlement-related decisions based on emotion. Sometimes, people choose not to give in to a particular proposal from a future ex simply because they would rather have the other party “pay” for causing them the emotional and financial difficulties that may accompany divorce. Others end up giving into a particular settlement even though it may not be personally favorable — simply because they are not thinking rationally. Proper legal guidance can help people to make informed decisions that will benefit them in the long run.
It is also important to avoid spending too much money on a new love during the divorce process. This can be detrimental because it may be costly at a time when preserving one’s finances is of the utmost importance. In addition, it may work against one’s interest during the divorce proceeding.
Getting divorced can be complicated when the process involves the distribution of property and the division of assets. Being educated about one’s rights when dissolving a marriage can drastically impact how successful one will be during a divorce proceeding in Michigan. It is within the rights of both parties to fight for a settlement that is in their best interests.
Source: cbsnews.com, “6 money mistakes to avoid in a divorce“, Gerri Detweiler, Jan. 21, 2015