There are numerous reasons to play nice throughout a divorce, not the least of which makes it easier on your children. But it goes far beyond your offspring and can be a excellent way to save money and keep you sane.
Terminating a marriage is not always easy and can be both financially and emotionally exhausting. It’s even harder if there is animosity between you and your spouse, making it very enticing to take revenge using the legal system. Nevertheless, there are tons reasons to play nice throughout a divorce, and it reaches far beyond what’s best for the children.
Below are 5 reasons for taking the high road throughout your divorce, from alleviating your conscience to safeguarding your finances.
Even though its challenging, divorce needs to be about planning for your future, not reliving your past. If both are on good terms, think about an uncontested divorce. This can be a much less costly option than continual battles through attorneys. Working with one another to determine marital assets and shared debts can be more equitable and more effective. Together you are able to avoid acquiring more shared debt, close any jointly held accounts and make copies of all important financial documents.
Additionally, each of you should open separate bank and credit card accounts prior to your divorce being finalized, since it’s usually easier to open an individual bank account and get a credit card your own name while you’re still married.
Safeguarding Your Credit
Both of you should pull your credit reports and together challenge anything that can be resolved. Get in contact with the three big credit reporting agencies – TransUnion, Equifax and, Experian– and get copies of your credit report from each of those agencies. Cancel any shared credit cards and give the credit agencies notice. Don’t forget that if those cards stay open, each of you continues to share the obligation of any outstanding debt.
Playing Fair to Collect Your Share
One of the initial steps in divorce is taking a home catalog and deciding how assets are going to be divided. Along with your spouse, jot down all information concerning assets and debts, and take photos of property. Any assets you brought into the marriage on your own, regardless of if it is a car, an inheritance, or real estate, should continue to be owned by you. On the other hand, joint asset distribution needs to be decided upon prior to a divorce being finalized.
One huge asset that can be tumultuous when you and your spouse are not getting along is the marital home. Unless there are children living in the home, you might want to work alongside your spouse to sell it and divide the proceeds appropriately. Doing that can also be a great way of starting fresh for both of you.
Combining Forces on Joint Tax Returns
Both of you are responsible for taxes on joint returns. Working through taxes is a lot easier if you can work with each other. This can assist in decreasing the amount of taxes you and your spouse might owe.
Yes…It is Better for Your Children
You are going to need to safeguard your children both emotionally and financially; be sure to verify the beneficiaries of your will, trusts, pension plan, IRA’s and life insurance to safeguard your children. If your spouse remains the primary benefactor, they could end up receiving a windfall should something happen to you, and there isn’t guarantee the money is going to make it into the hands of your children. Safeguarding children goes beyond child support: it begins with their parents playing nice. Every state has regulations for calculating child support for children.
A lot of states have varying divorce laws and guidelines, so you are going need state-specific information to make sure you’re following the appropriate steps. Use google to search for “divorce [and your state]” to find out more.
Morrow, S. (2022, May 2). Divorce the nice way. LegalZoom. Retrieved July 29, 2022, from https://www.legalzoom.com/articles/divorce-the-nice-way
Choose the Right Divorce Lawyer in Arizona
Regardless of the choice you make, it’s important you make the best choice for you when hiring a divorce attorney. Remember: The decisions you make now can affect your future. Ultimately, choosing the best lawyer will depend on which lawyer feels best for you and your situation.