Financial challenges during divorce

On Behalf of | Sep 16, 2021 | Divorce |

Ending a marriage is often a complicated decision to make, both emotionally and financially. Untangling finances and assets during the divorce process can be tedious, and there are even times when one’s feelings about the matter can get in the way. Here are a couple things to keep in mind when hoping to preserve one’s financial stability throughout the divorce process. 

Do not let feelings interfere 

There is no denying the emotional aspects of divorce, but those emotions should not interfere with the actual process. For example, some people in Missouri rush to complete the process just to have the whole thing behind them. This approach generally leads to an inequitable division of assets, as rushing does not allow time to fully account for all marital assets and debts. 

Consider alternatives 

Heading straight to court might seem like the best option, but rarely is. Many couples find that using an alternative dispute resolution is far more effective than leaving things up to a judge. Both arbitration and mediation are examples of alternative dispute resolutions that use the help of a neutral third party to help divorcing couples create their own divorce settlements. These approaches tend to be: 

  • Cheaper 
  • Quicker 
  • More private 

There are of course other financial hurdles that one might encounter during a divorce, including possible hidden or misvalued assets. None of this is to say that a secure financial future after divorce is not possible, though. Many people find that they can face these and other challenges head on by learning as much as possible about Missouri family law as possible, often under the guidance of an experienced attorney.