Every Seattle couple considering divorce likely knows that their finances will be affected as they work through the process of dissolving their marriage. What may not be as well known is exactly how this happens, as well as the high cost of making mistakes in the divorce process. In order to help these couples, one expert has compiled a short list of tips that will help couples avoid making vital mistakes.
The first tip is avoiding being too generous in emotional times. It may be easy for individuals to feel bad, or to want the process to be over, so they simply concede. Divorce is the process of separating lives, not helping one party and hindering the other. The second tip is that individuals divorcing should not assume that any marital debts are paid. Resolving all accounts and any debt that is held jointly, as well as identifying individual debts are important steps to a happy divorce.
The third tip is to keep a keen eye on legal fees. Being open to communication and effective planning can eliminate any unnecessary expenses during the divorce process. The fourth tip is to begin budgeting as an individual rather than a couple because it can be a challenge to adjust to life with only one income. The fifth tip also relates to budgeting, and suggests that parents not being overly extravagant with gifts for children in an attempt to quell their anxiety. Additionally, being competitive with the other parent may cause grief down the line.
Seattle couples considering divorce, or who are already in the process of divorcing may find these tips to be helpful as they navigate new financial considerations. Divorce does not have to be a long, grueling process that is financially strapping. In fact, divorce can be fairly painless when couples understand their rights and responsibilities, and work together to find a positive balance for all involved.