Understand the Numbers When Getting a Divorce

There is a lot to consider if you have an upcoming Charlotte divorce. Staying financially focused can help you come out with the results you need. It does not mean you need to take your partner for all they are worth. It just means you need to have a realistic understanding of the situation and an eye toward your future stability.

These tips can help you:

  • Understand your finances: Little things add up. It can be easy to focus on real estate — but you do not want to forget the value in investments, life insurance policies, furniture, cars, and other assets.
  • Consider the cost: The expense involved in divorce litigation can soon rack up. Do you really want to spend so much on legal fees? Mediation could save you both a lot of money, which you could use for other purposes.
  • Don’t let your emotions carry you away: Your wife loves the little red car, so to hurt her, you decide to do everything you can to keep it in the divorce. Bear in mind, if things are split equitably, getting the car may mean losing something else.
  • Think of the future: The better your understanding of how your financial future will be after divorce, the more prepared you are to negotiate or fight for what you need. Overlooking the real cost of moving to single life may mean you give away assets too easily and leave yourself short.
  • Don’t forget the kids: Children can cost more at certain ages. For instance, when they are a teenager, you will need to spend more on food. When they go through growth spurts, you will spend more on clothes. At some point, they may need orthodontic treatment. As they get older, they will need money to go out, go to college, and so on. Ensure you consider their long-term needs, not just their present ones.
  • Do it once, do it well: If you have to return to court to dispute support payments you will waste money and time. Get it right the first time.

Seek legal help to ensure you protect your financial interests in your Charlotte divorce. The divorce process can be emotional and confusing, so experienced advocacy is a must.

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