A Michigan divorce is difficult under ideal circumstances. Even if spouses can amicably resolve the issues, there are still stresses and uncertainties. This is compounded when the two spouses make mistakes that escalate hostilities or harm themselves financially by making the following mistakes.
Failing to account for taxes
When you negotiate to receive a particular piece of property, you may assume a capital gains tax obligation. You need to factor this into the value of the property. For example, if you assume ownership of stock, remember to reduce the value by the potential capital gains tax that you would owe.
Being needlessly adversarial
When it comes to divorce, not everything needs to be a fight. Some things can be negotiated through compromise and discussion. Even if you are angry due to the circumstances of the divorce, you need to put it behind you long enough to negotiate the settlement without going to court.
Being unreasonable financially
Spouses need to understand that the other spouse is entitled to their share of the marital estate. Your spouse may even be able to get more than you based on equitable distribution factors. At a certain point, you must compromise and be reasonable in your expectations. Divorce does not automatically mean that all the marital property is split exactly down the middle; there can be variations based on the circumstances.
Your divorce attorney may put you in the right position for negotiations by giving you a realistic appraisal of where you stand in the process. They might help prevent you from inflaming tensions by handling important parts of the settlement process on your behalf. Your attorney may understand that the best possible outcome is a divorce that settles as opposed to one that results in costly and lengthy litigation.
