Divorce and Separation , these are the top 12 mistakes a woman should avoid

The settlement of a marriage divorce is not a precise science. We wouldn't need courts or attorneys to handle financial divorce settlements if it were a simple mathematical calculation. Under Family Law legislation, courts are normally compelled to consider a variety of considerations when deciding who receives what. Too many women accept a 50/50 split of the marital estate without considering factors such as major differences between what your spouse makes and your own weekly/monthly income, as well as any limitations imposed by your age or health on your ability to earn money.

Another blunder is allowing the other spouse to keep the marital house, even if you have the financial means to do so. Property in the real estate market has a tendency to appreciate in value without you needing to do anything. If you decline and your husband pays you out, the problem is that you will likely not have enough money to buy a home on your own. Deposits, stamp duty, legal fees, and other costs can make buying a new house too expensive. You're stuck paying rent on borrowed money.

While it is not a widespread blunder, some women will attempt to preserve the marital home when they can no longer afford it financially. If you're intending to take out a large loan to buy out your husband's part of the house, you'll need to account for the monthly loan repayments as well as outgoings like rates, building insurance, public liability insurance, and general maintenance expenditures. Only then will you be able to determine whether you can afford to keep the residence.

Another issue is failing to examine other issues such as alimony and child support BEFORE settling on a distribution of the spousal property. These are not issues that should be handled separately.

The present worth of the property is considered, not the replacement value. This means that if the family automobile is worth $10,000, keeping it is usually the best option. Too many women find themselves in the position of needing a vehicle to transport their children to and from school, football practice, and other activities, and having to spend twice as much to replace the family car. When it comes to marital furniture and effects, the same mistake is sometimes made. They are usually secondhand (even if very recently purchased) and hence do not have a high monetary value.For example, the $1,000 refrigerator you bought new may only be worth a few hundred dollars now. Keeping the majority of the furniture (if it is in good condition) will save you a lot of money in the long run.

Property settlements may be cordial at times, but that does not imply that they are equitable. Accept the inflated financial valuations that your spouse is likely to place on property that you want to keep, as well as the low value that he is likely to place on any property that he wants to keep.

It's startling to see women (and occasionally men) squabbling over trivial matters. This refers to squabbling over insignificant financial matters. Paying hundreds of dollars in legal fees to argue about who gets a $50 wedding vase or a $150 stamp collection is foolish.

Another blunder is failing to consider other marital property and/or financial resources, such as boats, trailers, machinery, pensions, retirement funds, stocks, shares, and life insurance.

Too many women feel that if they "give in" to their property settlement rights, their spouse will be easier to cope with when it comes to the kids. This method rarely yields the desired outcome. The only actual consequence is that your spouse views you as weak.

Another common blunder is consulting a lawyer instead of a financial planner for divorce financial planning. What financial planning knowledge do lawyers have?

Some women fall into the trap of thinking that an informal arrangement with their husband is legally binding. Even if it's written down and both parties have signed it, it's not true.

Finally, because it's what they've always done, too many women simply give in to their husbands. It's time to take a stand for yourself. You're going through a separation or divorce, which means you need to be more concerned than ever about your financial future!