While a divorce is often a very emotional process, many people are more prepared to deal with the anger, disappointment, and frustration of ending a relationship than boiling down their marriage into a list of debts and assets. However difficult it may be, the divorce settlement is one of the most important aspects of the divorce, and there are some things you can do to set yourself up for success.
Before you begin thinking about what you want out of the divorce, or even whether you want to go the traditional route or take advantage of the collaborative process, it’s important to talk with a lawyer. Realistic expectations and goals are important, and having a consultation can help ensure you are fully aware of what you are entitled to and your legal options to pursue it through the courts.
A key part of the process is to establish a team of experienced professionals who can guide you. For example, it’s common for parties going through a collaborative divorce to have financial experts who can help them better understand what their assets are worth, what a fair settlement may be and the property division options. Even though child custody and property division are separate issues, it’s important to consider the expenses related to the children in the settlement process.
Whether you are already in the midst of an adversarial divorce or curious about the collaborative process, talking with a lawyer in British Columbia is the first step. After your initial meeting, you will be more informed and better prepared to start making decisions.
Source: MoneySense, “How to get a better divorce settlement,” April 13, 2016
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