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Advice: Tap the brakes on divorce haste for just a second

On Behalf of | May 5, 2017 | Firm News, High Asset Divorce

Rest easy, this family law blog isn’t counseling you to totally reconsider your fundamental decision to get divorced with the above post headline. After all, we know — as does every reasonable person in Arkansas and elsewhere across the country — that the decision to untie the marital knot is hardly casually arrived at and without painstaking contemplation beforehand.

No, people who know and care about you fully believe that you understand what you’re doing and are acting in your best interests.

The brake-tap suggestion above pertains, rather, more to your full appreciation of some of the key financial variables involved in many divorces, which — if applicable in your case – should never be glossed over simply because you are in a hurry to get things done.

“[G]et your house in order.”

That is bottom-line advice offered up by the publication Forbes in a recent focus on certain things you should definitely be looking at “to protect your assets and shore up your retirement plan.”

Here are a few of those, which are often especially relevant to comparatively older baby boomer couples:

  • Delve into your Social Security options, noting that divorcing parties in marriages that endured more than a decade could be eligible for some enhanced benefits (and detriment, too, if they remarry before the age of 60)
  • Peruse those beneficiary designations on insurance and retirement accounts (here’s a downer scenario: you remarry but forget to remove your ex as the beneficiary, leaving him/her with money intended for others after your death)
  • Understand and act accordingly with QDRO (If you don’t know what that means, definitely ask your divorce attorney)
  • Reset financial goals, thoroughly reviewing where you’re at, what you’ve got and the measures that can be taken to further protect yourself

A seasoned family law advocate will anticipate all these and additional matters, ensuring that you address and act upon important considerations.

Of course you want to act with purpose and dispatch in your divorce.

Just don’t act in haste.

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