Avoiding financial setbacks during a divorce

On Behalf of | Mar 4, 2023 | Property Division

The decisions made during the legal process of ending a marriage will have an impact on the rest of a spouse’s life. It is critical to make smart choices based on research, careful consideration and a focus on what will be best long-term. One of the primary concerns of both Virginia spouses is the proper division of marital assets and shared finances. During a divorce, it is important for an individual to understand the potential costs he or she could face in order to avoid them or prepare for them.

Thinking long-term

Even when both spouses resolve to work together to complete their divorce amicably, there can still be hidden and unexpected costs for both parties. However, a less-contentious divorce is likely to cost less than when two spouses fight over assets, spousal support and other matters. It may be financially prudent to settle as many outstanding issues as possible outside of court.

It is also important to have a clear and accurate understanding of the true cost of the divorce. A spouse will benefit from calculating what his or her post-divorce life will cost, including housing, taxes and more, and adjusting to those new circumstances as soon as possible. A realistic look at post-divorce financial circumstances is beneficial.

Seeking the best terms

A Virginia spouse will benefit from seeking the guidance of an experienced family law attorney at every step of the divorce process. A lawyer can provide insight into the ideal way to seek terms that will provide long-term stability and security. With help, a spouse is less likely to experience unexpected financial costs and issues during his or her divorce.