The typical Tennessee divorce has a lot of legal complexities that must be dealt with — both by the spouses and the lawyers representing them. Even a fairly straightforward breakup that doesn’t involve children or a lot of assets can require many steps. Let’s take a look at a few tips that divorcing spouses can use to simplify the process:
— Consider hiring a financial advisor: At the very beginning of your divorce process, you may want to hire a financial advisor to help you. Your financial advisor can assist you with a checklist of tasks that need to be completed before, during and following your divorce. Your advisor can also create a budget and cost-flow projections.
— Keep your records clear: Even the most advanced business people can get disorganized. This wastes time, and increases the expenses involved in a divorce. Remember, if you bought an investment before your marriage, it might be classified as non-marital property. However, you’ll have to show documentation of the purchase date, and this could take time to track down.
— Don’t make a proposal until you know the probable outcome: Be sure that you are fully educated on possible outcomes before you make any decisions in your divorce. This will prevent you from having unrealistic or vague expectations that are difficult to address in your divorce negotiations.
Tennessee residents engaging in asset division negotiations can navigate the process easily if they have the right financial and legal professionals on their side. These individuals can reduce the time burden that your divorce places on your life, in addition to saving money and reducing your stress.
Source: Chicago Business, “Financial Strategies, Advice for Negotiating the Breakup,” accessed April 21, 2017