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Common divorce mistakes to avoid

On Behalf of | Feb 13, 2019 | Divorce |

Divorce can be tricky. It can be difficult to know what to do and what not to do during divorce proceedings. Here are a few hazards to avoid on the road to single life.

Social media is everywhere, and people seem to put their whole lives out there for the world’s viewing. That can be a big mistake for someone going through a divorce. It’s tempting to flaunt one’s new-found freedom and adventures, but it can unintentionally give the other spouse leverage in the negotiations. For example, it’s difficult for someone living in Connecticut to claim he or she can’t afford spousal support while posting pictures relaxing on a tropical island or driving an expensive new vehicle.

Documentation is key. Before items start walking out of the house, gather and keep all receipts, banking statements and Social Security statements. These items may be useful during divorce negotiations as well as for other future uses such as tax planning.

Divorcees often fail to consider the tax consequences of their assets during negotiations. For example, different types of IRAs with the same current balance will have different values based on how they are taxed. There may be taxes owed if the home is sold. Also, spousal support can have significant tax consequences. When negotiating the terms of a divorce, the future tax consequences of the assets must be taken into consideration as failure to do so can result in a very different financial future.

Many people assume that divorce has to be a bitter, difficult, drawn-out battle, but it doesn’t. Entering a divorce with a positive attitude, willing to negotiate and ready to move on to a brighter future can help the process immensely. Securing the help of an experienced Connecticut family law lawyer will make the process go more smoothly and quickly and can result in a better settlement. Allowing a professional to handle the details will eliminate stress and allow more time for planning an exciting new future.