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Avoid these three major divorce missteps

A recent article in Forbes discusses three major mistakes to avoid during divorce. Although the article focused on wealthy couples and property division, the issues address can actually be applied more broadly to divorcing couples of all income levels, and need not be limited to the financial aspects of divorce.

One of these mistakes involves failing to step back and take a look at the full picture. Often, divorcing spouses become so fixated on a single issue that they lose sight of the larger implications that may be involved. To prevent this from happening to you, it can be helpful to sit down with your divorce lawyer for a thorough discussion of your objectives and priorities. He or she can help you identify your options and make sure you understand the likely consequences of any given course of action.

Another common mistake is assuming that going to court will get you the outcome you want. For many divorce-related issues in Minnesota, including child custody, spousal support and property division, judges are required to perform an in-depth analysis of a wide range of highly subjective factors, which can yield highly unpredictable results. Therefore, it may be in your best interest to work with your attorney to negotiate an agreement outside of court. He or she can also be a powerful advocate for your interests in the event that your case does end up going to court.

A third error that many people make during divorce is relying too much on the advice of friends and family members rather than trained professionals. However well-meaning your friends and family may be, and whatever their own personal experiences may have been, they most likely have only a limited understanding of the financial and legal nuances of your situation. Furthermore, because you are probably selective about what details you choose to share with these individuals, their knowledge of your specific circumstances is likely to be limited. Thus, their advice may end up doing more harm than good.

Source: Forbes, "Three Of The Biggest Mistakes The Wealthy Make When Divorcing," Russ Alan Prince, June 9, 2014

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