When couples go through divorce proceedings, they often make mistakes that end up costing them a lot of money. To ensure that the process doesn’t put you in financial difficulty, it is always best to hire a Montgomery contested divorce attorney. However, even with a lawyer, there are still certain mistakes that can cause your divorce to become expensive, and these should be avoided at all costs.
Here is a list of the top 5 most costly mistakes couples make during a divorce:
Walking out without planning
Walking out of a marriage without any preparation can be the most costly mistake. If you don’t plan ahead, it could leave you with little to no financial security for yourself or your children. Before taking the plunge, make sure to have a discussion with a lawyer and create a budget that will allow you to live comfortably during and after the proceedings.
Signing anything you do not fully understand
Divorce agreements are filled with complex language and conditions that can be hard to understand. Before signing anything, make sure you read it over and fully comprehend what you are agreeing to. Ignorance of the law is no excuse, so take the time to ask your lawyer any questions that don’t make sense before you sign something you regret later on.
It is important to be aware of all your assets and debts during a divorce. Being ignorant of what you own can cost you in the long run, as any asset that has not been accounted for will be subject to division. Make sure you take inventory of all your possessions and review your credit report so there are no surprises down the line.
Only listening to your friends
Getting advice from your friends and family can be helpful during a divorce. However, it is important to remember that their opinions are not legal advice and should never replace the counsel of an experienced lawyer. Make sure you consult with a professional before making any decisions related to your divorce.
Failure to formalize agreements
If you and your ex come to an agreement outside of the courtroom, it is important to formalize this with a written document. This will help prevent future disputes over money or assets, and provide legal protection in case either person tries to back out of the arrangement later on.