MyDivorcePapers Blog

The most common reason people decide to file for divorce is financial, so it should really come as no surprise that they make a lot of financial mistakes when they’re going through the process. Money matters can grow even more common during divorce because the situation too often becomes emotionally driven rather than logically. To help navigate this tricky financial time, we’ve listed some of the most common financial mistakes. Do your best to ensure you’re not making them.

1. Using Money As A Weapon.

The most common example given of this mistake is the philandering husband, who knows he’s about to be divorced, so he starts hiding assets to make sure his soon-to-be-ex walks away with nothing. It’s a mistake, not only because it’s illegal, but also because if you get caught doing it, you could end up in worse shape as a means of punishment. Furthermore, it gives way to greater vindictiveness and higher conflict, which keeps the divorce papers in limbo and the legal bill running.

2. Giving Up Too Much.

Some people are so heartbroken by the terms of their divorce that they fail to protect their own interests. Considering that 80 percent of the divorce forms that are filed, are done so to the objection of the non-filing party — meaning they don’t want a divorce — it’s easy to see how a lot of people will put themselves in an emotionally vulnerable state when they should be thinking with their heads instead of their hearts. Don’t be that person. You may not care now, but you will definitely care later, and by then, it’s too late.

3. They’re Too Quick To ‘Lawyer Up.’

Don’t get us wrong. Attorneys do a lot of good in high conflict divorce cases. But there are also a great deal of couples who could resolve their cases without going to trial. For example, if you and your spouse are in agreement on financial and custody matters, you have less need for an attorney. You could handle such a matter through our website, by letting our guided Q-and-A process compile the necessary forms, all for a minimum of one-fifth what you would pay to hire an attorney (and possibly less). The process couldn’t be less intimidating than it is. Our suggestion: before hiring an attorney, discuss the issue with your spouse. If you’re both in agreement and the conflict is low to non-existent, then an attorney may not be necessary.

---