Small mistakes in a divorce settlement can have huge consequences

On behalf of Stange Law Firm, PC posted in Property Division on Saturday, April 16, 2016.

Reaching a divorce settlement can be a very complicated process. It can require compromise, negotiation, patience and a commitment to finding a solution that is in your best interests. On top of all the emotional and financial changes you are already adjusting to, the actual logistics of getting divorced can prove to be quite overwhelming.

In some cases this process can be so taxing and elaborate that you lose track of all the things you are supposed to do just to get that settlement finalized. You might misplace receipts, forget about a deadline or, as was the case for one man recently, neglect to sign a single piece of paper. Unfortunately, these seemingly small oversights can have considerable consequences.

For example, if you forget to include income, debt or a marital asset in your financial affidavit, you could be accused of fraud or misconduct. This could ultimately have a negative impact on your end of the settlement in terms of property division.

If you fail to submit paperwork by a particular deadline, you could end up drawing out the divorce process. Avoidable delays like this can make people tense, frustrated and angry, which only makes the situation that much more upsetting.

Failure to sign a legal document can also have catastrophic consequences. For instance, a man in another state failed to sign his divorce papers and ended up having to comply with an older agreement. According to reports, that mistake cost him millions of dollars and could lead to bankruptcy.

These types of mistakes are not unheard of, but they are preventable. With the help of your attorney, you can make sure you, your paperwork and all the other details of your divorce are on track. Without legal support, things can fall through the cracks and ultimately put your settlement in jeopardy.

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