Divorce is all over the news. From celebrities getting one, to T.V. personalities opining on its effect, divorce discussions are never far away. It shouldn’t be a surprise, then, that there are a whole host of people offering advice to those considering or in the midst of a divorce.
A recent column, for example, offers some advice on divorce settlements. The writer suggests too many people are being hurt financially by avoidable pitfalls. Talk to enough people in Minneapolis and St. Paul who have split up and one can see how these pitfalls can sneak in and disrupt the financial well-being of a divorcee. Fortunately, there are just as many, if not more, examples of successful settlements which promote financial health after the end of a marriage.
Some of the pitfalls mentioned in the article are going to trial when litigation is unnecessary, ignoring tax implications and allowing emotions to take over. Local St. Paul attorneys know how each one of these can be the turning point in coming to an effective resolution. They also know how to avoid problems and steer a split towards a healthy compromise.
Those considering a divorce are encouraged to contact a local attorney early in the process. These individuals can analyze an individual’s current financial position and strategize a cost-effective plan. Too often, divorcees wait until they are mired in a litigation dispute to get serious about their legal representation. This can cost more money in the end, as settlement oversights and protracted litigation can deplete assets. A well thought out and well executed divorce strategy, however, can help ensure that a divorcee secures that which is most important to them in a split.
Source: CNBC.com, “Avoid divorce settlement blunders,” Elizabeth MacBride, November 3, 2013