Navigating Divorce with Fairness: Resolving Matters Fairly

Written By Alla Levin
March 07, 2024

Navigating Divorce with Fairness: Resolving Matters Fairly

Divorces are complicated processes, aren’t they? They are rarely comfortable or easy. However, things can be made a tad easier with the right advice. Here, you can discover how to make the divorce process easier and settle things fairly.

Owning a property

If you are a divorcing couple that owns a property together (in both names), the legal stuff needs to be discussed. It’ll complicate your relationship further if you try to remain the owner of the same house. You need to be adults and discuss who will take over.

If you decide, be sure to complete a Quitclaim Deed so that ownership can be passed on to the right person.

Know the finances

Part of your divorce preparations should include a comprehensive analysis of your financial situation. Items to consider for financial fairness in divorce are tracking your net worth, gathering all your financial documents that will be relevant for the divorce, verifying income streams as well as liabilities, and tracking your monthly expenses.

It might be helpful for you to bring a financial planner on board to help you analyze the financial documents, identify tax situations, and potentially project what your financial picture will look like after your divorce is finalized. Allow yourself to use the divorce process to get a solid understanding of your financial picture.

Children’s best interests

If children are involved in the divorce, prioritize their best interests. Work together to create a parenting plan that is stable, consistent, and good. Be ready to compromise and prioritize the children over things that might make you happy.

Other ways to divorce

If you don’t want to go with the traditional divorce route, some good choices would be to choose other ways to get out of the marriage, like mediation or collaborative divorce.

These options are good in that both partners have to come to terms with the decisions, and they also let each side express what they are looking for during the separation. Mediation is a good way to get together and settle the terms of separation.

Transparency in the process

Step one in navigating your divorce and reaching an amicable agreement is transparency and full disclosure of all financial information.

Both parties must provide accurate and comprehensive financial disclosure to the other party to ensure transparency and facilitate informed decision-making during negotiations. Failure to disclose all assets or income undermines trust and the potential for fairness in the process.

Take into account the emotional aspect

Don’t overlook the emotional aspect of divorce! You should recognize and accept dealing with the emotions that divorce naturally brings. It is helpful to obtain emotional support from relatives, friends, or professional mental health providers to go through the emotional aspects of a divorce.

The best approach is to take very good care of yourself and put your emotional needs first as you go your way through the turmoil of divorce.

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