Divorce can be a challenging and emotionally taxing process, but with careful planning and consideration, you can navigate it successfully.
If you are going through a divorce in North Carolina, be aware of the two most common mistakes that people make during this difficult time. Avoid these pitfalls to ensure the best outcome possible.
Neglecting financial planning
According to a study by Fidelity, only 54% of couples say they make joint financial decisions on a daily basis. When one partner takes the financial lead, the other may not know the family’s financial position. But when going through a divorce, you must have a clear understanding of your finances. Gather bank statements, tax returns, investment records and any other relevant financial documents. This information will be invaluable when it comes to negotiating the division of assets, determining spousal support and calculating child support.
Because divorce is an emotionally charged experience, it is easy for communication to break down between spouses. Open and respectful communication is key to reaching mutually beneficial agreements, even if you feel angry toward your spouse.
Avoid making emotionally-driven comments and decisions. Instead, focus on finding common ground. Consider using alternative dispute resolution methods, such as mediation or collaborative divorce, to facilitate productive discussions via a third party. These methods can help you and your spouse work together to find creative solutions that will be in the best interests of both parties.
Avoiding these common mistakes in your divorce can save you time, money and emotional distress. With careful decision-making, you can move forward confidently into the next chapter of your life.