For many in Arizona, the legal end of a marriage comes long after the partnership has dissipated. Spouses in this scenario are often emotionally exhausted by the time the legal proceedings begin, and simply ready to move on with their lives. This can lead to a lack of care when it comes to the financial aspects of divorce, and a failure to properly appreciate the gravity of the decision that are made during this tumultuous time.
The impulse to move on and get past a difficult marriage is understandable, especially in cases where a couple has lived unhappily for many years. However, simply throwing in the towel and not actively pursuing a fair division of marital wealth is never a wise decision. The end result can be a long period of financial instability as a divorced spouse works to rebuild his or her financial foundation.
There is nothing spiteful or bitter about seeking a fair division of assets. In fact, this is an area of divorce that should strictly follow the numbers, not the emotions of either party. Both sides are entitled to a share of what was accumulated during the marriage, and both sides will need those funds in order to move on toward separate lives.
For those in Arizona who are overwhelmed at the prospect of dividing marital assets, it may be helpful to work with a financial planner. A professional will look at one’s current level of income, assets and debt, as well as future financial needs and goals. Using that information, he or she can create a guideline of which assets are best suited to meet those goals. From that point forward, a negotiation strategy can be crafted that will ensure that both sides can move beyond a divorce with the proper degree of financial stability.
Source: thefiscaltimes.com, “Divorce: 3 Mistakes That Will Crush Your Financial Future“, Kathryn Tuggle, May 28, 2015