Divorce is so much more than the end of a marriage; it is a life-changing event that requires careful planning and consideration. In addition to determining child custody and the division of assets, debts and property, both parties must make decisions that protect their short- and long-term post-divorce interests.
Unfortunately, the dissolution of a marriage is not easy for some couples to navigate because of lingering emotional attachments, which can cause additional complications with property division. To mitigate potential issues that can prolong the process and cause spouses to overlook their best interests, here are a couple of points to consider about complex property division and family law issues in divorce.
Knowing the options
Divorce is not final until a divorcing couple works together to split their debts and assets and resolve child custody and other pertinent issues themselves or have the courts intervene. When there is court involvement, both parties lose the advantage of having their circumstances and preferences considered.
Collaborating to benefit both parties
The focus of divorce should not be one spouse trying to gain an advantage over the other. Instead, the bigger picture should involve doing what is necessary to protect one’s interests while taking steps to reduce costly disagreements and delays. There are numerous ways couples can achieve this, i.e., by respecting each other and providing full disclosure as they work to properly identify and value marital and personal property, assets and debts and negotiate an agreement that they will abide by.
Divorce and family law matters are not always black and white. Sometimes there are gray areas that may require the expertise of a legal or financial professional. Regardless of what challenges present themselves during the divorce process, couples who anticipate them and are willing to go the extra mile to protect their children and themselves from the potential negative affects often enjoy better divorce outcomes.
