Avoid These Common Mistakes with Your Divorce Settlement
Most divorce cases do not go to trial. Instead, they are entirely settled at the negotiation table. The settlement process gives you a lot more control over the outcome of your divorce. While this has some clear benefits, it also means there is much more room for error.
Below are a few common mistakes you should be sure to avoid during your divorce settlement negotiations:
- Showing up unprepared: You may not be going to court, but you should still be thoroughly prepared for mediation. Long before you make or accept a settlement offer, you should have a clear picture of your finances, an idea of a visitation schedule, a thorough overview of your marital assets and other items as suggested by your attorney.
- Forgetting the tax consequences: Do not get so focused on asset distribution, alimony and child support that you forget the tax consequences of all your arrangements. It is important to take the time to sit down with your attorney and/or a financial planner to go through how all potential settlement arrangements could impact your tax outlook in the coming years.
- Not leaving room to negotiate: When you make a settlement offer, you should do so knowing you will likely not get your perfect result, and give yourself plenty of room to negotiate. If you start with the bare minimum, you risk both appearing inflexible and ending up with a worse agreement than you might have otherwise been able to reach.
- Being overly emotional in the decision-making process: It can be understandably difficult to control your emotions during a divorce, but you must be very careful not to let your emotions dictate your decisions. It can be easy to lose sight of your overall goal in favor of attempting to “punish” your spouse.
For the guidance and advice you need as you work to dissolve your marriage, contact a respected Long Island divorce lawyer with Bryan L. Salamone & Associates.