The divorce process is often stressful. And although divorce can get you out of an unhappy marriage, it can also take you for all that you're worth if you don't know your rights.
Secrets You Should Know About Divorce In South Dakota
Don't Let Emotions Guide Your Financial Decisions
People often want to take out their feelings on their soon-to-be ex; however, it’s important not to let emotions interfere with the business at hand. In the long run, being spiteful could harm your own finances. For instance, in most cases, asking your lawyer to write a letter to your ex over who gets a $25 cookbook is nonsensical.
Don't Hide Assets
Don't try to deceive your spouse by hiding or concealing assets - you're messing with the law. If what you’re hiding is discovered, you’ll lose your credibility in court. There could also be stiff penalties - including monetary sanctions. Declare all assets up front.
Know Your Finances
In most households one person manages the finances. However, this arrangement can create a “power imbalance" when it comes time to negotiate divorce settlements. You may want to consider seeking professional help to guide you in making informed decisions about your finances before filing for divorce.
Don't Forget About Beneficiary Designations
Many people forget to remove their former spouse from insurance or retirement account beneficiary designations. If you fail to remove these designations these amounts may end up being paid out to a former spouse. Make sure to handle beneficiary designations and other tedious paperwork as soon as possible.
Design A Practical Parenting Plan
If you and your ex have children, try to design a parenting plan that is practical and in your child's best interests.
Speak With An Experienced Family Law Attorney Today
If you need the guidance of an experienced Family Law attorney please feel free to contact us online or call our office directly at 888.864.9981 to schedule your free consultation.