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Financial pitfalls to watch out for during divorce

On Behalf of | Sep 10, 2021 | High Asset Divorce |

Preserving one’s financial stability throughout every step of life is a priority for most people in Texas. However, the divorce process can create a number of hurdles that make maintaining one’s finances a challenge. Here are a few things that divorcing couples should keep in mind when going through a divorce. 

Avoiding the rush 

Divorce can be an emotional process, and many people are eager to get the whole thing over with as quickly as possible. Rushing to wrap things up can prove to be problematic, though. Pushing to end a divorce quickly is associated with unfair division of marital property, especially if one spouse is in an otherwise vulnerable position. It often takes time to untangle complex marital assets, so taking the time to fully evaluate this type of property is often essential to securing the best possible division for both partners. 

What about arbitration? 

Arbitration and mediation are both types of alternative dispute resolution. These processes give each spouse great control over the outcome of the divorce and also allows them to keep details of the settlement private. Using an alternative dispute resolution rather than heading straight to court can also minimize: 

  • Length of the divorce 
  • Expenses 
  • Stress 

Every married couple in Texas is different, so there is no such thing as a one size fits all approach to divorce. What works to preserve one person’s finances might not be appropriate for another. This is why so many divorcees choose to work closely with an experienced attorney who is well-versed in Texas family law.