Divorce can be a difficult, emotional process, and divorcing spouses certainly do not want to add to their troubles by making one of several common mistakes. These errors include not seeking assistance from professionals when necessary, rushing the process and failing to change one’s estate plan after a divorce.
Divorce involves many legal complexities, especially if a couple has children or substantial assets. There are many financial and legal factors that a couple may not have ever thought about during their marriage, but that need to be analyzed during a divorce to ensure that property is distributed equitably and parental rights and responsibilities are fairly assigned. Some divorcing spouses do not realize the extent of these complexities and attempt to file for divorce without the assistance of an attorney. Though this error may be motivated by an attempt to save money, it can actually cost more in the long run, as mistakes can be made which may be costly in themselves, and also may require the services of an attorney to correct.
A second common mistake is attempting to rush through the divorce process. It is understandable that divorcing spouses may wish for a difficult process to end quickly, but decisions such as whether to keep the family home have far-reaching effects and should not be made without careful consideration of the consequences. It is important that these decisions be made not on the basis of emotion but by analyzing the potential costs and benefits.
Finally, divorcing couples often neglect to make the necessary changes to their estate plans. For instance, he finalization of a divorce does not automatically entail changing the beneficiaries of insurance policies. Wills and other estate planning documents such as any trusts also need to be updated to reflect the wishes of the individual after a divorce.
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