How To Prepare For A Divorce To Get The Best Outcome

3rd September 2020

HOW TO PREPARE FOR A DIVORCE TO GET THE BEST OUTCOME

Money can rarely buy happiness, especially when your marriage is falling apart. It can, however, buy material comfort, solve problems and secure the right legal support.

Money isn’t without its own problems. The more you have of it, the more complicated and acrimonious your divorce may be.

This blog gives you 6 tips on how to prepare for divorce when you have wealth, both emotionally and practically. It makes no difference if you are the one holding the wealth or your ex is.

Accept your emotions and roll with them. Especially you men. Bottling them up is never a good idea.

There are 8 emotions people often feel over the course of time from the start of the breakdown of the marriage and sometimes beyond the divorce. These can be felt in any order and you can flip backwards and forwards between them

Especially if it is your decision to get divorced or you have met and become involved with another person.

Either within your marriage or now that you have separated. You may feel misunderstood or that you lack emotional and practical support. Loneliness can erode your self-esteem if left unchecked

The more wealth you have the more complicated the divorce settlement. Even if you have always managed the family finances it can be overwhelming having to prepare these as well as doing your day job or running your business.

Take time to tackle tasks in bite-size pieces rather than putting them off and letting them build-up

When there is more at stake, then naturally emotions run high. Tempers rise where one party starts to feel their efforts to build the family wealth go unnoticed or unrecognised. Acting on anger can have a negative if you end up in court.

Fear of the unknown, uncertainty. Fear of what your future may be. Ask questions of people in the know. Although, if you are asking friends and family who have gone through a divorce remember no two divorces are ever the same even if circumstances are the same or seem the same to you. Chances are they won’t be and therefore the outcomes will be different

Particularly, if it was not your decision to divorce or you are having to financially support your ex because they don’t work or only work part-time

Divorce is the end of a big chapter in your life. You are bound to feel sadness at the loss of what could have been.

Often people agree to anything just to bring the divorce to an end. Act in haste usually means you are likely to repent in leisure.

NEVER let emotions dictate your decisions. Having the right legal support can help you void this as your legal advisor will be objective

Choose your support team wisely.

Think about who you can REALLY trust in your inner circle or family. Only really share the ins and outs with your legal support

Get to grips with your numbers, especially if you let your ex take control of the finances. Getting good professional advice avoids you being taken advantage of or avoiding pitfalls such as hidden tax implications or discovering assets that your ex has tried to hide from you

Get the right legal support from someone who specialises in divorce and family law issues and has experience in complex divorces.

Someone who will have your back

Ideally they should be a member of Resolution to reduce acrimony that may exist or potentially develop later.

I am all of these!

Don’t rush the process. If you do you may be making decisions that cost you more than just money. You may be putting at risk your reputation, future happiness and future financial security.

It is crucial to have a well thought out plan and strategy. A plan starts with your vision of your life post-divorce. Knowing what you want and what your bottom line is. It is then a case of building a strategy (a path) to get to your vision.

Your plan and strategy should always be compatible with your values.

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