Getting a divorce can be emotionally draining or liberating, depending on your marital experiences. Yet, one thing is constant: you’ll want to get the best settlement possible. This can mean different things for different people. In addition to hiring a competent divorce lawyer, you’ll need to know and do some things.
Pre-nuptial Agreements are Important
Few new couples ever expect to get divorced. The excitement of marriage might be great, but you should be able to secure a prenup agreement with your spouse before getting legally joined. Prenups define the settlement that you and your partner will receive. The best part is that you both agree to it, have legal cover for it, and can ask for a review if you become dissatisfied with the terms. All US States recognize prenups, but the specific requirements may differ from state to state. With a prenup, you can negotiate the best settlement for yourself way before a divorce happens.
Never Hide Your Assets
The law frowns at dishonesty in asset declarations. Don’t hide your assets in a bid to save some for yourself. When your action is discovered, you might lose it anyway. Declare your assets as they are and trust your divorce lawyer to negotiate the best for you.
Learn Basic Divorce Finance
Learn some basic finance as it affects divorce. Learn how a divorce can impact your taxes, what assets can be shared, and what legal financial cover you can have. For example, if you have to share your stock portfolio with your divorced partner, you might not be liable to pay taxes on the gains. But if you don’t know this, you might lose a lot of money to taxes for years.
Get Property Valuation
Hire a proprietor valuer to get the true value of every property before you divorce. In that way, you can negotiate a favorable settlement. If you don’t know the item’s true value, you might be handicapped in negotiating your settlement.
Make Big Purchases Before Divorce
Most state laws prohibit divorced couples from spending big on properties after the divorce. You should, therefore, make big purchases before you get a divorce. Don’t worry about having to share the properties; your divorce lawyer can help you negotiate a favorable settlement. In that way, you have no confinement to certain property limits.
It is always a great idea to hire a competent lawyer to handle the negotiation. Lawyers are experienced and can help you to get the best settlement.