Divorce is a financially complex process, and the final agreement will have implications that will matter for months and years down the road. There is a lot at stake, and for this reason, many couples in Colorado decide to settle their divorce out of court. If you choose this option, you will find it beneficial to keep your focus on a strong future as you negotiate a final divorce order.
One of the primary concerns in most divorces is money. Regardless of your income and the value of your marital assets, you will experience some financial change after your marriage is over. Negotiating carefully can ensure that you do not find yourself with unreasonable financial obligations or lack of sufficient income to cover your basic needs.
Where should you start?
One important place to start is seeking a better understanding of your financial situation. This is especially critical if you did not work outside of the home or you allowed the other spouse to manage financial matters over the course of the marriage. Familiarize yourself with the types of accounts you have, your retirement savings, all sources of income and more. This will give you a better idea of what you’re pursing in your settlement negotiations. Other helpful things include:
- Take your time to consider your choices. Deciding on terms too quickly can result in a final order that doesn’t make sense for you long-term.
- Avoid making emotional decisions at all costs. How you feel in the moment does not necessarily reflect what will make sense down the road.
- It can be beneficial to discuss your concerns and your financial situation with experienced financial experts who are concerned with your success.
- Stay calm, even if it seems impossible that you will get all of the things you want in your agreement. Panic can cause you to act irrationally.
One of the most important steps you can take in your effort to negotiate a reasonable and satisfactory divorce settlement is to work with an experienced family law attorney. There is a lot on the line, but with the right help, you can secure terms that allow you to look to the future with confidence.
Divorce is hard, no matter how amicable the two parties may be, but you do not have to walk through it alone. It is helpful to have knowledgeable guidance throughout negotiations and the drafting of a final divorce order.