4 Biggest Divorce Mistakes to Avoid in Arizona
Moving forward with a divorce requires bravery and courage. You should be commended for your honesty and willingness to take decisive action. The ensuing actions you take will go a long way in determining your financial future as well as your happiness. Avoid these common mistakes made during divorce and you will enjoy a much smoother transition to the next chapter in your life.
Divorce Mistake #1: Not Realizing You Need and Deserve Financial Clarity Moving Forward
If you have not managed personal finances in years or decades as your primary duties as a spouse were taking care of the kids or working full-time, it is time to dust off the calculator and open up those filing cabinets. You probably don’t have a clear picture of your marriage’s finances so now is the time to find out exactly what assets are in your name, which are in your spouse’s name and which are mutually held. Make copies of all financial paperwork for your divorce attorney’s review.
Divorce Mistake #2: Failing to Consult With an Attorney
The most important thing you can do amidst divorce is lean on an experienced and intelligent Arizona divorce attorney. Choose the right attorney to handle your divorce and you will be empowered to square your focus on your work, your kids and living life rather than worrying about the legal and financial ramifications of ending your marriage.
Keep in mind, the manner in which your divorce is handled will have an impact on you and your kids in the years and decades ahead. Do not entrust any old Arizona family law attorney with your divorce. You need a divorce attorney who has years of experience successfully spearheading divorces for local Arizonans.
Divorce Mistake #3: Ruling out Mediation Right Away
Plenty of those seeking divorce in Arizona automatically assume the traditional divorce process is the only way to proceed. However, there are some merits to mediation, especially if you have a savvy Arizona divorce attorney on your side throughout the mediation process. Mediation has the potential to save you time, money and frustration. Mediation is also favored by some seeking divorce as it provides the divorcing individuals with that much more control over the process of divorce and the ensuing outcome.
However, mediation is not optimal for every single Arizona couple looking to divorce. If your spouse seems to be hiding savings, investments or other assets or if you have lost all trust in him or her, mediation might not be the best avenue. However, if assets are not hidden and you still trust your former flame, mediation is worth considering as it has the potential to prove mutually beneficial to both parties.
Divorce Mistake #4: Assuming Everything Related to Finances Will Work Itself Out
There is a common misconception amongst those divorcing in Arizona and elsewhere that creating and sticking to a detailed budget is unnecessary. The sad truth is living post-divorce is likely to prove more expensive than life pre-divorced simply because expenses such as housing are no longer being split between two spouses.
Living on a single income will prove quite difficult following your divorce. Start budgeting now, stick to your budget moving forward and any financial support stemming from your divorce will be the icing on the cake. When in doubt, consult with a financial professional to help establish and stick to a personal budget.