Negotiate your way to an amicable divorce settlement

| Jan 3, 2020 | Uncategorized

Coming to terms with the very fact of divorce is enough stress to handle. You may find the prospect of facing a tough courtroom battle wholly intimidating.

Negotiation is an option to consider. There are a number of benefits, starting with the location: You and your spouse can work toward an amicable divorce settlement away from the courtroom.

Financial security

For women, especially, financial security going forward is a primary consideration following divorce. There are several big items to discuss, such as who gets the family home and how to split retirement plans. Remember that the home is not a liquid asset. Along with monthly mortgage payments, there will be upkeep to consider, which may be a drag on your post-divorce budget. You must also consider the cost of healthcare. Keep in mind that if you have children, you must carry a policy that covers them; you must figure the expense into child support payments.

Daily expenses

Another consideration involving children is the cost-of-living expense. You must meet your children’s daily needs, which will include the cost of daycare, extracurricular activities and even the expense for gas to take them to their various activities.

Tuition

Perhaps you and your spouse already have a college tuition account set aside for your children. If not, you can meet the cost with low-interest loans and financial aid, and your children may help by getting part-time jobs. The point is that the cost of college tuition is something to think about and something you and your spouse should work into your divorce agreement negotiations.

Getting together

Negotiation usually begins when you and your spouse and your respective attorneys get together to work out property division details; in other words, how you will split marital assets and debts. Other major points involving child custody and parenting considerations will be high on the list of priorities as you work toward a satisfactory settlement. As compared to litigation, negotiation can help you reach an amicable divorce agreement faster, more economically and with far less stress.

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