Avoiding Bad Divorce Settlements

You probably already know that the vast majority of family law issues are settled before trial. Sometimes that is a fairly quick process when the issues or assets are limited, and on the other hand, it could be a multi-year process assisted by attorneys, mediators, financial advisors, accountants, and other professionals.

It is quite common for one or both of the spouses to wonder if they reached the elusive “good deal.”  It is also common to have regrets, whether well-founded or simply “buyer’s remorse.” However, it is extremely difficult and unlikely to have an agreement set aside.

Here are my suggestions and traps for the unwary:

  1. You are entitled to information about your spouse’s assets, but the time to pursue that is before you sign the agreement. If you choose to skip that part, you may end up regretting it!
  2. Many people forget to address gains and losses for retirement accounts between the valuation date and the date the account is actually segregated. Be sure you understand how this will be addressed.
  3. Remember that provisions regarding children (child support, custody, visitation) can always be modified by the court if it is warranted. The court is always the last word when children are involved.
  4. Typically, your agreement is final once signed, even if you aren’t divorced yet. Take your time and carefully consider the provisions.
  5. ALWAYS talk to an attorney experienced in family law before signing an agreement!

For more information on family law, please contact Heather L. Sunderman at (301) 664-7710 or hlsunderman@mirskylawgroup.com.

 Disclaimer: The content of this blog is intended for informational purposes only. It is not intended to solicit business or to provide legal advice. Laws differ by state and jurisdiction. The information on this blog may not apply to every reader. You should not take any legal action based upon the information contained on this blog without first seeking professional counsel. Your use of the blog does not create an attorney-client relationship between you and Mirsky Law Group, LLC.