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Mark Abzug

Detach from emotions during property division

On Behalf of | Oct 4, 2019 | High Asset Divorce

High asset divorces are often challenging because of the value and number of assets that have to go through the property division process. There is a chance that it is going to take multiple sessions to get things in order for the divorce to reach the final stage. When you are going through this, there is one major thing that you need to avoid – allowing your emotions to govern your choices.

When you let your emotions take the lead, you might end up with a settlement that makes you feel good at first. As time goes on, you may find that it is such a financial strain that you can’t enjoy the assets that you received. You have to try to emotionally detach from material goods, so you can do what’s truly in your best interests.

To combat this, you need to look at the practical side of things. For example, find out if there are any expenses related to the asset. This could include things like loan payments, insurance, taxes and upkeep costs. If there are any, find out if you can realistically afford to keep the asset. You might find that some just aren’t affordable with your budget.

You also have to remember that you might be liable for a portion of the marital debts. You must factor these into your budget so that you know where you stand with it.

As you are working on the negotiations, remember that you have to protect your own rights. You can’t let your ex rule what you get. Be prepared to stand up for yourself and have a legal representative who can do this too.