Avoiding The Financial Pitfalls Of Divorce

April 14, 2016

If you’ve arrived at a place in your marriage where you’re certain continuing is just not possible, then it’s time to do some preparation—the key to safely navigating this life transition.

Michael F. Kay writes that when emotions typically take center stage when a relationship has deteriorated beyond repair—and it’s safe to say that good financial decision-making and emotions rarely mix well. So while it’s challenging to deal with money issues rationally when you’re blanketed in pain, you want to give it your best shot.

Some couples (usually seething with anger and hurt), seek to hire the toughest and most aggressive “shark” attorney who will look to pound their adversary into pulp. At the end of this lengthy and expensive process, their private lives are laid open to public scrutiny.

A more sensible is when each party decides that the best possible outcome is not punishment, but the preservation of as much wealth as possible. In this case, there are better and more rational approaches available, such as mediation.

 

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