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Avoid making these costly mistakes during a divorce

On Behalf of | Oct 6, 2022 | Divorce, Family Law

It’s natural to feel overwhelmed when you are ending your Ohio marriage. In that situation, it’s easy to make certain mistakes. Unfortunately, these are things that could end up costing you.

Not considering alternatives to court

Traditional court divorces can take a significantly long time and cost you a lot of money. If you don’t consider a different means such as mediation or collaborative divorce, you could be out thousands of dollars. You will probably also have to wait a much longer time to end your marriage.

Not considering potentially hidden assets

Some divorcing spouses have hidden assets that their partner knows nothing about. In that situation, it’s easy for that person to end up cheated out of their fair share of the divorce settlement. Whether the assets are hidden in an overseas account or a trust the other spouse set up, it’s crucial to look into the possibility that this is an issue.

Having to deal with your spouse’s debt

You could be held responsible for your spouse’s debt in your divorce. If they have a bad habit of amassing debt and not paying it back, you could be in for a nasty surprise. Don’t neglect to get copies of both your credit reports and carefully review them. If your spouse has accrued high debt on accounts you don’t share, you might still be responsible for a portion of it.

Agreeing to the first settlement offer

You might want to quickly end your marriage and just accept the first settlement offer made to you. However, doing this is a bad idea as it’s possible that your spouse and their attorney are offering you far less than what you deserve. You might also be vulnerable if your marriage involved any type of abuse and want to rush through things.