Common Mistakes to Avoid During a Kentucky Divorce
When confronted with the challenging prospect of the end of a marriage, individuals often experience a wide range of fears and concerns. These can include worries about financial stability, legal complexities, and the emotional toll of the divorce process. However, before acting in these situations, it is important to carefully consider various strategies and decisions that can help mitigate these challenges.
In the guide below, we will review some common mistakes that couples make during divorce proceedings in Kentucky and provide detailed insights on how to avoid them.
Mistake 1: Not Having a Complete Picture of Your Finances
Having a thorough understanding of your financial matters is incredibly important for individuals who have delegated major financial decision-making to their spouse throughout their marriage. This includes being aware of all assets, liabilities, income, expenses, investments, and any other financial considerations that may impact your present and future financial well-being.
For these reasons, if you anticipate a divorce, it is important to start gathering specific financial information, including:
- Tax returns over the last few years
- Statements from pensions and retirement accounts
- Checking accounts
- Savings accounts
- Credit card statements
- Credit reports
Mistake 2: Using Your Children To Get Messages To The Other Parent
Before relaying messages through your child, it is important to carefully consider the potential impact these messages will have on them. Even seemingly harmless messages can have unintended consequences if delivered through your child. For instance, involving them in communication that may lead to conflict could make them feel burdened with responsibility for any resulting arguments or tension. This added stress may be particularly challenging for them to manage, especially considering any other stress they may already be experiencing. That is why take responsibility for delivering messages yourself and shield your children from unnecessary emotional strain.
Mistake 3: Taking Advice From Others and Not Your Lawyer
One significant mistake people make during a divorce is seeking legal advice from friends and family. Your spouse, especially if they have narcissistic or controlling traits, is not a reliable source of legal guidance. Moreover, it is crucial to understand that each divorce is unique and complex, so the experiences of others may not apply to your situation. Instead of relying on them, consider seeking information and advice from an experienced Kentucky divorce attorney who can help you understand the process better and explore your specific legal options.
Mistake 4: Fighting for Assets You Cannot Afford
It is not uncommon for couples to have bitter fights over ownership of the family home. These disagreements can stem from emotional ties to the house or the assumption that the primary custodial parent should retain the home for the well-being of the children. However, it is critical to have a clear financial evaluation before making these emotional decisions. For example, you will want to carefully assess whether you have the financial capacity to buy out your ex-partner’s share of the property, which may involve refinancing or exchanging other significant marital assets. Equally important is the need to realistically evaluate whether you can afford the ongoing expenses associated with homeownership.
Additionally, while some divorcing couples may contemplate continuing to co-own the family home for a period after the divorce, this option also carries financial and other inherent risks that warrant careful consideration and planning.
How Can You Avoid the Common Mistakes Made During a Divorce? Contact Hoffman Walker & Knauf Today
To learn more about the mistakes you should avoid during a divorce in Kentucky or to discuss your specific family situation in more detail, contact Hoffman Walker & Knauf today and speak with one of our skilled divorce attorneys.
