Continued from Part 1
Don’t fight for assets that you know you cannot pay after your divorce is finalized. You might really want to make sure your ex spouse doesn’t get the house, boat or vacation home in the settlement, but you have to be realistic when requesting these things. If you can’t afford to maintain an asset, fighting for it will only cause more stress in the long run than if you were to let it go and understand that you cannot keep up with those expenses.
Even if your child is paying for their education with financial aid and part-time jobs, there will still be out of pocket expenses that need to be paid on time. It would be best to negotiate these expenses at your initial settlement agreement. Even if your child is too young to be thinking about college expenses, it would never hurt to prepare ahead of time and take care of these issues as soon as possible so you don’t find yourself back in court when college is about to begin.
Make sure you name is removed from any joint accounts that you share with your spouse. Do this before the divorce is final to avoid any impact on your credit should your spouse refuse to pay after the decree is finalized.
Maintaining your financial and emotional security comes hand-in-hand with making very important considerations when you are going through the divorce process. For more assistance on negotiating the best possible settlement agreement, look to the Glendale divorce lawyers at The Sampair Group. Contact us today for a free consultation.