Divorce is a stressful situation that often requires one to make many life-changing decisions. When one is in the middle of a divorce, it can be difficult to know how best to navigate the process. Georgia residents who are planning to divorce their spouse should be aware of some of the common mistakes made during a divorce to better prepare themselves for the road ahead.
Make the right decisions
Financial circumstances often change post-divorce, which can mean that one must make significant changes to one’s lifestyle. This may include finding a better job, budgeting to make ends meet, and selling the family home. The family home is often one of the most complex assets to settle. Both parties may have emotional attachments to the home, which can cause hesitation in selling the home, even when it makes financial sense.
After a divorce, one should be prepared for changes in the way they pay their taxes in relation to any assets gained or lost in the divorce. Some divorcing couples don’t realize that retirement accounts must be dealt with differently than other assets and this is usually completed once the divorce is final. Another mistake is delaying updating one’s estate plan after a divorce. Beneficiaries and other estate planning documents should be updated as soon as one’s financial situation changes.
Don’t get overwhelmed
Going through a divorce is often a very emotional experience and making decisions can prove difficult when one feels overwhelmed. It’s important to know that legal help is available to provide guidance on how best to settle divorce matters. Georgians who are considering divorce can speak with a family law attorney to understand how best to navigate the upcoming changes related to the divorce.
