Divorce Planning For Men – Limiting the Financial Sting

It is never easy for a man to deal with a failed marriage. Emotions run high, and when combined with the potential for enormous financial loss it becomes a truly lethal combination. This is why it is important that you properly prepare before making any decisions. Remember, seeking a divorce attorney should not be your first resort.

Although it may seem wise to leave the proceedings to a divorce attorney, remember, they are the ones that will benefit the most from creating a lengthy and hectic process out of the divorce. At the end of the day, the divorce attorney knows that finances and emotions dont mix, and as a result, they may use this to their advantage to drag on a process that may have taken a fraction of the time to complete ‘spouse-to-spouse’. Any divorce attorney will know that while emotions are running hot, a settlement will probably not be reached, and as a result, the ‘meter’, or billable hours, is kept ticking. By resolving the messiest issues before seeking a divorce attorney, you can save yourself a considerable sum. Keep this in mind before rushing to find a divorce attorney.

The big mistake most men make is going through a marriage without a prenuptial agreement, at this point, you must realize that it’s in your best interest to seek an equitable settlement for both parties. By doing so, you will avoid involving a divorce attorney in the process, a mistake that ends up costing most men a lot more than an equal settlement.

Unfortunately, all too often, men let their egotistical emotions get the better of them.

In their anger, they may think that they will come out of the divorce witthout losing any assets, and therefore simply refuse to work on a compromise. This kind of mentality prevents any settlement from being reached and pushes both individuals to seek the services of a lawyer to claim their stakes.

The best way to avoid being cleaned out in a divorce is to prepare a prenuptial agreement before the marriage. But if you did not do this, then the best you can hope for is an equal solution. Avoid getting greedy, you may end up losing more than expected in the end, especially, when a divorce attorney gets involved.

Another frequent mistake is trying to inflict financial pain in retribution for any emotional distress caused by the break up. If it reaches this point, chances are, a divorce attorney will get involved to survey the situation and reach a conclusion on who rightfully owns what.

The best way to settle a divorce while minimizing costs, when neither party is willing to negotiate face-to-face, is to seek a professional mediator. This allows both parties to take control and decide on the important issues, rather than having a divorce attorney take control of everything and make cruel decisions. By agreeing upon using the services of a mediator, both you and your spouse don’t need to spend money on hiring your own lawyers. Once major issues are settled by a mediator, seperate attorneys can prepare the legal documents necessary to finalize the agreements, significantly cutting back on billable hours.

Since the end of a marriage is always difficult to deal with, things usually get ugly when each party sets out to financially devastate the other solely for retribution. In the long run, both sides will suffer. So remember, divorce is not the time to make a point. Try your best to keep emotions out of the settlement and keep the situation from getting any uglier than it is.

Share Now

Author: Nayem Hassan

Leave a Reply

Your email address will not be published.