Petrelli Previtera are expert divorce attorneys in Highland Ranch. With over 30 years of experience, we have helped hundreds of clients obtain the best possible outcome in their divorce settlements. Our team has dedicated our lives to helping those whose marriages are broken move on. We help with child custody issues and child support, as well as division of property and mediation.
In our last blog post, we discussed some common financial mistakes people make when going through a divorce that can have far-reaching implications. In this blog post, we’ll continue our look at common financial mistakes so you don’t make those as well. A good divorce attorney can help you avoid these pitfalls. Contact us today for free consultation!
MORE COMMON FINANCIAL MISTAKES TO AVOID IN A DIVORCE
Spending Money Out of Spite
Just like your spouse may fail to make your car payment out of spite, someone may decide to go out and spend money before the divorce is settled just so the other person does not get it. This is very common, especially at the very beginning of a divorce before anything really gets moving. Buying a new home, a new car, new clothes, or a new boat may sound like a good idea, but in the end, it will become part of the divorce since you are still legally married. Hence, you’ll end up splitting whatever your splurge on anyways. Petrelli Previtera recommends to hold off on spending until the divorce is final.
Not Having a Safety Net
Due to the nature of the courts and the nature of disagreements, and possibly the nature of assets you may have, divorces can take months, and in the worst cases of disagreements, years. At the beginning of your divorce proceedings, Petrelli Previtera in Highlands Ranch recommends that you put away some money in a separate fund to be your safety net. Alimony may not start for a while, and if you don’t work or you make considerably less than your spouse, you need money to survive. Note that this is not hidden money; when it comes time to report all assets for your divorce, you have to report this money as well. This is just money you have earmarked for you.
Misunderstanding Marital Debt
Just like all assets that you’ve accumulated together during the marriage is yours, so is all debt, which people often forget or they choose to ignore. All debt will be divided during the divorce process in the same way all assets will be divided. However, your ex spouse may choose to not follow up on their portion of the debt responsibility. This is how many people end up in financial ruin and with horrible credit after a divorce. For example, if your ex spouse fails to pay a bill that he or she is responsible for and your name is on that loan, you are financially responsible. Your credit will take a hit. Sometimes your spouse does this on purpose out of spite to cause you financial trouble, especially if it’s a car loan and you have the car.
Petrelli Previtera in Highlands Ranch recommends that in order to avoid this financial headache altogether that you make your best effort to pay off all joint debt before your divorce is finalized.
Not Working on Negotiating in Your Divorce
Some people are so hurt by the divorce process that they refuse to negotiate at all with their future ex spouse, choosing litigation (or court) instead. When you choose a court, you are handing all decisions over to a judge who often is so impartial you won’t end up with anything you want. Going to court is also expensive since now you have court fees as well you’ll have to pay. Choosing mediation or negotiation in your divorce is not only faster, but you’ll also end up with much more favorable terms and more of what you want. Petrelli Previtera in Highlands Ranch are experts at negotiating during divorce proceedings. Call for a free consultation today!
Choosing the Wrong Divorce Attorney or Choosing No Divorce Attorney
Divorce law in most states is complicated. Trying to navigate the law yourself in a possibly distraught state of mind is not the best idea. After all, you’ll probably just be trying to hold it all together, and if you have kids, you’ll be focusing on them. Undoubtedly, you are stressed and trying to DIY your divorce and get the best possible outcome for you is not the best idea. An experienced divorce attorney like Petrelli Previtera has access to many resources to help you, as well as knows what to look for when helping to settle your divorce. We’ve seen all of the tricks in the book. One thing that you forgot about without a guiding hand could cost you thousands of dollars in the long run. Let an expert help. Call us today.
While having an aggressive divorce lawyer is a good thing, having an overzealous divorce attorney may not be. An overzealous lawyer can ruin the divorce negotiations by instigating a fight or just being overbearing, unreasonable, and unwilling to compromise. You need an advocate like Petrelli Previtera, who can keep their cool under pressure to get the best outcome for you.
HOW PETRELLI PREVITERA CAN HELP IN YOUR DIVORCE
Divorce is a very trying time in your life where you just need an advocate. We all have those times in our lives where you just need someone’s help. Hiring a top-notch divorce law firm such as Petrelli Previtera to handle your divorce is the best decision you can make to not only ensure your financial soundness in the future, but to help negotiate the law that is full of nuances. With over 30 years of experience, we can put our knowledge at work for you. When so much is at stake, including your life with your children, you need the best. If you are in the greater Denver area, call us today for a confidential consultation!