THE TOP 12 MISTAKES A WOMAN SHOULD AVOID WHEN IT COMES TO DIVORCE PLANNING AND FINANCIAL SETTLEMENTS

Excerpt : A matrimonial divorce settlement is NOT an exact science. If a financial divorce settlement was a straight mathematical equation, we wouldn't need courts and lawyers to resolve matters. Courts


A matrimonial divorce settlement is NOT an exact science. If a financial divorce settlement was a straight mathematical equation, we wouldn't need courts and lawyers to resolve matters. Courts are usually required, under Family Law legislation, to take into account a range of factors in deciding who gets what. Too many women settle for a 50% split of the matrimonial property WITHOUT taking into account matters such as significant disparities between what your husband earns and your own weekly /monthly income and any restrictions your age or health might have on your capacity to earn income.

Another mistake is letting the other spouse retain the matrimonial home EVEN IF you have the ability to buy him out. Real estate property

Practical Solutions To Divorce & Custody Concerns Also see : Divorce Doesn't Have To Ruin Your Credit Rating In 1996, I divorced my wife and with that divorce came the normal dividing of property and assets. There also was the discussion regarding our credit card debt. We were married for 5 years and used the credit cards as a couple, but the...read more What Parents Should Do For Children To Do Their Best After Divorce? Why do some children still do best after divorce and separation? Is there divorce parenting approaches that really work? Read and learn the divorce parenting approaches that really work. Going through the process of divorce is a challenging...read more

has a habit of increasing in value without you having to do anything. If you pass this up and your spouse pays you out then the problem often is that you don't then have enough money to purchase a property of your own. Deposits, stamp duty, legal fees etc. can put buying another home out of your reach. You're left paying out dead money in rent.

While not as common a mistake, some women will seek to keep the matrimonial home when they really CAN'T afford to financially. If buying out your husband's share in the house is going to involve you taking out a big loan, you need to factor in the monthly loan repayments PLUS outgoings such as rates, building insurance, public liability insurance and general maintenance costs. Only then will you know whether or not

Also see : Arrangements After Divorce Maintenance. After a divorce there is an obligation to maintain one’s spouse. This applies to both women and men. The less well-off partner can demand a financial settlement from the other. It can be an immediate payment of capital or the...read more Divorce, Taxes, and the IRS Copyright 2006 The Divorce Center P.A. In Divorce, potential tax liability can frequently become the tool for one spouse to use against the other spouse. If improperly used, this tool can destroy all of the marital assets. In the worst case,...read more

you can actually afford to keep the house.

Failing to take other matters such as alimony and child support into consideration BEFORE agreeing on a division of the matrimonial property is another problem. These are NOT matters that should be dealt with in isolation.

It is the current value of property that is taken into account - not replacement value. This means that if the family car is worth $10,000, it is often better to keep it. Too many women find themselves needing a vehicle to get the kids to and from school, football training etc. and having to spend twice what the family car was worth just to replace it. The same mistake is sometimes made when it comes to the marital furniture and effects. They are usually secondhand

Also see : DYI Divorce Papers DYI Divorce Papers are easy to be filled. It is a sole responsibility of the parties involved to fill up the papers in such divorces. You can always get the necessary packet of DYI Divorce Papers by going to a bookstore or office supply store, or by...read more Potty Training After a Divorce or Separation Many parents share custody of their children, which presents a unique problem when it comes to potty training. It’s best to discuss potty training and agree on a strategy before you start. Both parents need to be informed about potty training...read more

(even if only recently purchased) and therefore are not worth a lot of money. For example, the fridge that you paid $1,000 for new may now only worth a few hundred dollars. Keeing the bulk of the furniture (if it is in good condition) will avoid you having to pay a lot more money to replace it.

Property settlements may sometimes be amicable but this does not mean they are fair. Do not accept the inflated financial values your husband is likely to put on property that you want to keep and the low value he's likely to put on any property he actually wants to keep.

It is surprising to find women (and sometimes men) arguing over the little things. By this I mean, fighting for items of little financial worth. It's pointless

Also see : Are You Heading For Divorce? Marriage is one of the most sacred institutions in life. It should be respected and given importance. But it is sad to say that nowadays, a lot of couples tend to forget the sanctity of marriage. More And more couples opt for divorce instead of...read more Helping Children to Cope with Divorce If you are a responsible parent facing the minefield of divorce, a prime concern will be helping your child cope with the process. If, on the other hand you are a parent who believes that old chestnut, "My child isn't bothered” or "kids take things...read more

paying hundreds of dollars in legal fees disputing who is going to get a $50 wedding vase or a $150 stamp collection.

Another mistake is overlooking other assets such as boats, trailers, machinery, pensions, retirement funds, stocks, shares and life insurance as matrimonial property and/or financial resources.

Too many women believe that if they go "soft" on their property settlement entitlements, their husband will be easier to deal with as regards the children. This approach rarely produces the desired result. The only real outcome usually is that your spouse perceives you to be weak.

Another very common mistake is seeking divorce financial planning advice from a lawyer instead of a financial

Also see : Marriage - Divorce - Separation - How to handle the split loyalties after separation. We have all most probably encountered it at some stage in our lives - who do we stay friends with after a couple divorces or separates? The text book answer is to stay friends with both parties of course but that’s a mighty tall order to fulfil as...read more Stop Dirty Divorce Tricks From Being Played On You. We all kind of laugh about dirty divorce tricks that you hear are played. It is always kinda funny when you are not the one the trick is played on. ------------------------------------ It still amazes me that this stuff happens....read more

planner. What do lawyers know about financial planning?

Some women get sucked into believing that by reaching an informal agreement with their husband that is legally binding. It isn't - even if it's written down and both parties have signed it.

Finally, too many women simply give in to their husband because that's what they've always done. Now is the time to stand up for yourself as you now need to be primarily concerned with your financial future!


Copyright Barry Roche - http://www.divorceandwomen.com

Now You Can Stop Your Indecision & Pain About Whether to Stay Married or Get a Divorce!

More Divorce Articles

Divorce Advice | sitemap
copyright www.seekdivorceadvices.com 2006