Avoiding Financial Missteps In A North Carolina Divorce

Avoiding Financial Missteps In A North Carolina Divorce

For couples in North Carolina who are dealing with the end of a marriage, it is always important to bear in mind the potential financial ramifications. Errors made during a divorce can have substantial costs over the long term. Those who pay strict attention to their finances are more likely to avoid some common mistakes.

One of the issues that arises in almost every divorce is the division of assets, and this matter can sometimes be easily negotiated. However, if a spouse does not have a grasp on the household finances, it can lead to agreeing to stipulations as part of the settlement that are not in their best interests. Trying to have a handle on the finances during the marriage is one step, but in some cases a spouse might try to hide assets. Simply trying to get the case over with and worrying about the consequences later is a poor strategy.

Another wise step is to ensure that all agreements and concessions that are made are reduced to writing and made a part of the final divorce decree. In many instances, there may be negative emotions and even vindictiveness. A spouse may in some cases orally agree to do something in the future but then never follow through. Such an agreement would likely be difficult to enforce if not in writing and signed by both parties.

The division of assets is just one of the many issues that can arise as part of the divorce process. A family law attorney might help a divorcing client negotiate a comprehensive settlement agreement that covers not only marital property but which extends to other matters such as spousal support and child custody


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