Divorce can one of the most emotional and stressful times in a person’s life. From changing family dynamics to parenting issues, it can be hard. As some struggle to deal with this often draining and complex process, it’s easier to make mistakes along the way. Unfortunately, these mistakes can significantly increase the cost of divorce.
Here at Ogborne Law, we recognize the impacts a divorce can have on a family. From the financial strain to the emotional tolls, we know it can be challenging to manage from day to day. Here’s what you should know about the top 3 mistakes that increase the cost of divorce and how you can avoid them.
Top 3 Mistakes that Increase the Cost of Divorce
1. Failing to Consider the Entire Financial Picture
Let’s face it: Divorce will inevitably change your financial situation going forward. Unlike a traditional divorce, the collaborative process works to bring the entire financial picture to the forefront of the conversation.
Collaborative divorce offers access to a team of neutral professionals in a number of fields, including financial advisors and specialists. This allows couples to work better together towards realistic financial goals and expectations.
One of the most common divorce mistakes is not considering the full financial picture that comes with the upcoming changes. This can include topics like:
- Continuing marital debt, including credit card payments, mortgage payments, tuition, car payments, and more
- Not anticipating additional costs like moving, child support payments, separate rent, new auto/home/renters insurance policies, medical insurance premiums, and more
By choosing a collaborative process for your divorce, you can ensure that your financial future will be front and center every step of the way. We understand the importance of honest communication and commitment during this emotional and complex process. That’s why we work hard to provide an experienced team of professionals who can meet your needs.
2. ‘Closing Off’ When it Comes to Financial Conversations
Some people simply find it uncomfortable to discuss finances. Others have less-than-honorable reasons for not being forthcoming when it comes to the topic of money. It’s important to understand that this mentality will only negatively impact the divorce process and potential outcome.
Failing to have honest and open conversations about finances can increase the cost of divorce – in more ways than one. From the loss of important ground in your divorce case to potential criminal charges, keeping mum when it comes to financial conversations is never advised.
3. Treating the Process Like a Competition
Not all divorces have to involve bitter courtroom exchanges and a long, drawn-out process. This can cause the cost of your divorce to rise significantly. Choosing the collaborative process can help both sides avoid getting caught in the win-lose mentality while keeping the cost of divorce much lower.
The collaborative divorce process offers a welcoming environment and a team of neutral professionals to help couples navigate this complex process. From experienced mediators to financial specialists, the collaborative process works to create a “win-win” outcome.
Avoid Common Divorce Mistakes with the Help of a Collaborative Divorce Professional
Perhaps the biggest divorce mistake people can make is failing to work with an experienced professional. That’s where we come in!
We understand how easy it is to make a mistake during this highly stressful, emotional time. These mistakes can ultimately impact much more than your monetary situation.
Ogborne Law is here to help you avoid common divorce mistakes and keep the cost of divorce to a minimum. If you would like to know more about the collaborative divorce process or how it can help you lower the cost of your divorce, contact us today.
Engaging with an attorney to protect your family is never an easy step. Whether you need to protect your family from the unthinkable or restructure your family through collaborative divorce, we’re here to help. When you’re ready to schedule a consultation with Michelle Ogborne, please visit the scheduling page to get started.