Many people may still have the image of a divorce as a court proceeding in which lawyers duke it out to see how much of the marital property their client can take at the other person’s expense. In real life, much of a family lawyer’s best work is done behind the scenes, helping his or her client make smart legal decisions in the midst of what is no doubt a very stressful time.
With that in mind, there are some common legal errors that a Colorado resident may make during their divorce or legal separation. These errors frequently prove to be costly. For example, some people make the mistake of trying to ignore the fact that splitting up has profound financial consequences for which they will need to adjust.
For instance, some people try not to think about their own financial situation, meaning they will have little to no idea about what sort of property division would be fair and in their best interest. Others simply do not plan for the inevitable loss of income and net worth, while still others may delay in separating out their own finances from those of their spouse.
On the other hand, making big financial changes, like buying a new vehicle or taking a lower-paying job, are often a bad idea during a divorce. These activities can lead to an accusation that a person has mis-used marital property or is trying to avoid paying support. Of course, actually trying to hide assets or mislead the other side is a no-no.
Finally, it is important that someone going through a divorce make sure he or she updates his or her estate planning documents as well as the beneficiary designations on any retirement accounts.
Perhaps the biggest mistake people make is waiting to get professional legal advice or relying on an inexperienced attorney. A skilled Broomfield, Colorado, divorce and family law firm can help a Colorado resident evaluate his or her legal options and determine the most affordable course of action. This course of action may not always involve litigation.