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4 considerations when negotiating your divorce settlement

Your marriage dissolution may be emotionally charged, but it’s also a major financial transaction. The outcome of your property division dispute could affect your financial stability for years or even decades to come, which is why it’s imperative that you adequately prepare to address these matters, whether through negotiation or litigation.

Although most divorces result in settlement, you shouldn’t sit down at the negotiation table without first formulating a strategy. Here are some things to keep in mind as you do that:

  • Know what you need out of your divorce: There are probably some assets that are crucial to your post-divorce life. You may need a vehicle, for example, to ensure that you can continue to get to work and take your kids to school. These are your non-negotiables and can set the parameters of your negotiations.
  • Know what your spouse wants out of the divorce: If you can identify the assets that your spouse wants, then you may be able to develop a strategy that uses those assets as leverage to get what you want.
  • Think longterm: It’s easy to get wrapped up in the immediacy of divorce. But you have to remember that some marital assets provide more long-term stability than others. Retirement accounts, for example, may not provide you with immediate financial relief, but they can secure your financial stability in the future. Therefore, you’ll want to develop a strategy that strikes a balance between your immediate needs and your long-term well-being.
  • Be mindful of tone: If you hope to wrap your divorce up as quickly and efficiently as possible without having to air your marital grievances before a judge, then both parties need to be careful about what they say and how they say it. Coming across too aggressively can stall negotiations and lead to more costs and stress. You shouldn’t be a pushover, either though. So, do your best to be direct, firm, and respectful.

Competently navigate your divorce issues

We know that going through divorce is tough. And trying to figure out legal maneuvers can be stressful when you’re trying to recover from the emotional blow. But that’s why competent legal professional like those at our firm stand ready to assist you. If you’d like to learn more about how an attorney can help you navigate your marriage dissolution, then now may be the time to reach out to one for guidance.