One mistake many divorcing people make is to give the ex-spouse more than their share of the assets in an effort to make the divorce go smoother, more amiably, quicker, or all of the above. This is something that can cause you great regret later. It may seem like anything would be better than the fighting over the house or the $5000 credit card but you should not talk yourself into taking the brunt of the financial damage.
Conversely, however, remember that your lawyer is costly. Don’t spend 3 hours of the lawyer’s time on a $400 piece of furniture. Focus on the big ticket financial items such as the primary residence, retirement accounts, investment accounts, alimony, unsecured debts (credit cards), and other significant property.
If you are interested in additional information related to this topic or additional strategies, please download our eBook: The Financial Divorce – Your Guide to Financial Divorce Knowledge.
