Money mistakes often made during a divorce

On Behalf of | Jan 27, 2024 | Divorce

While in the midst of the process of ending a marriage, it is easy for a spouse to allow temporary emotions to dictate his or her decisions. While it is normal to feel angry, confused or stressed during divorce, these feelings are not great indicators of what will truly be best long-term. Unclear thinking and lack of preparation can lead to money mistakes that can result in post-divorce financial regrets. 

The missteps to avoid 

There are certain missteps during a Virginia divorce that could ultimately lead to financial struggles after a divorce. This is why it is essential to prepare for a divorce, setting aside temporary feelings and short-term concerns and focusing instead on what will be best long-term. Some of the most common money-related mistakes made during a divorce include: 

  • Not having all of the necessary financial information on hand during negotiations or litigation 
  • Failing to persistently negotiate for fair and reasonable terms hard before conceding to the other party 
  • Putting off financial planning during the divorce and not making a post-divorce budget 

Any of these may not seem like a detrimental step initially, but they can all result in circumstances that may be difficult to overcome in the future. 

A strong post-divorce future 

The goal of any decisions made during a Virginia divorce is a strong and stable future. Due to the importance of the choices made throughout this process, it is helpful to have the guidance and support of an experienced attorney. This can provide insight for someone trying to lay the foundation for the best possible future after his or her divorce.