It is all too easy to focus on the emotional aspects of a divorce and forget about some of the more logical points. This can be financially devastating. Even if you don't immediately notice the impact, you might realize it a year or more down the road.

1. AVOID COSTLY MISTAKES IN YOUR PROPERLY DIVISION
SETTLEMENT

2. It is all too easy to focus on the emotional aspects of a divorce and forget about
some of the more logical points.This can be financially devastating. Even if you don't
immediately notice the impact, you might realize it a year or more down the road.
For anyone who is going through a divorce, making sure that you protect your
financial interests is imperative.When you are working on the property division
settlement, avoid making these critical mistakes so that you can start your single life
off on the best footing possible.
Emotional attachment
You can't let your emotions get in the way of making a sound decision.When it
comes to some assets, such as the marital home, there might be a strong emotional
connection. Instead of thinking about this, you should sit down and determine how
keeping the asset might affect you in the future.
Some assets, including real estate, have ongoing costs associated with them.Think
about things like insurance, taxes, upkeep, repairs and similar factors when you are
trying to determine what is worth keeping.

3. As you think about these costs, remember that you are going to be relying solely on
your own income to pay the bills. Even if you do receive child support or alimony,
there is always a chance that something will happen to your ex and those payments
would stop. Being able to plan your budget for your income only can help you
become more financially stable.
Retirement accounts
Your retirement accounts need to be addressed in the settlement. Make sure that
you get a Qualified Domestic Relations Order for these so that they can be divided
up as intended.You must also ensure that they are valuated properly because the
current worth of the account might not actually reflect the value that you need to
consider for property division purposes.
Discounting debts
The property division settlement isn't only about dividing assets.You and your ex
will also have to divide the marital debts.This can make a big dent in what you walk
away with if your marriage was debt laden.You should remember that your credit
score can be impacted if your ex is supposed to pay an account but doesn't because
creditors don't have to abide by the terms of the divorce.

4. There are some cases in which the debts can be used to balance out a situation
where the assets are divided equitably or equally. Just make sure that you don't
get stuck with the majority of the debts and minority of the assets.
Article Resource - https://www.attorneys-arizonablog.com/2018/04/avoid-costly-
mistakes-in-your-property-division-settlement.shtml