Tips for a Financially Successful and Peaceful Divorce Settlement
Any divorce lawyer in the Vancouver area could tell you that divorces are emotionally charged and difficult affairs. Unfortunately, they’re also financially disruptive. Although it’s hard to let cool heads prevail, it’s not necessary for divorce settlements to get quite so challenging. If you keep your emotions under control, you will become better equipped to handle the situation and avoid financial hardships at the end of the divorce.
Our divorce lawyers in Vancouver have practiced family law collectively for over 25 years and have repeatedly seen negative situations arise that were avoidable. So if you’re planning a divorce, here are our top five tips to help the process go smoothly:
1. Don’t let anger cloud your judgment
Avoid lengthy legal battles by approaching your divorce as amicably as possible. A collaborative divorce settlement can save you both thousands of dollars, leaving you with greater financial resources when all’s said and done.
2. Keep what you’re entitled to in perspective
If you or your soon-to-be ex-spouse feels betrayed, hurt or angry by the situation that led to the divorce, irrational opinions about the person’s entitlements may occur. This can delay the settlement, leading to higher legal bills and court proceedings.
3. Get yourself organized
Don’t procrastinate about obtaining the items necessary for the divorce to proceed. Get copies of all your financial assets and liabilities, especially pertaining to joint accounts including debts, investments, bank statements, tax returns, insurance policies, deeds and so on.
4. Get the facts about your business
If you own a business together, it can further complicate matters in a divorce. Make sure you get a copy of business appraisals, tax returns, financial statements, retirement contributions and pension summaries. You will also need copies of any business related loans, bonuses, buy/sell agreements and used stock options.
5. Take inventory of valuables
You will need to take inventory of all your valuable belongings, shared or not, such as jewelry, art, collectibles, furniture, recreational and personal vehicles. Check your attic, basement, garage and storage facility for any forgotten items. Take photographs to document as proof.
Assemble a skilled divorce team
To get through the divorce process amicably and as quickly as possible you will need a top-notch team experienced in family law, especially when there are children involved.
If you need a divorce lawyer in Vancouver, look to the Donald B. Phelps Corporation. Our family law practice can help you through the following:
- Custody and access disputes
- Asset division
- Restraining orders
- Spousal and child support
- Separation agreements
- Common-law relationships
To learn more about our services or to meet with one of our divorce lawyers, contact us today.