Even though women in British Columbia are healthier, wealthier and more educated than any other generation at age 50 and older, those whose marriages end later in life tend to make the same three mistakes. A divorce is a life-changing event, and decisions and choices made at that time can determine post-divorce financial stability. One thing that could be extremely valuable would be a team to provide professional support along with helpful input.
This team can include an experienced lawyer who can explain responsibilities and legal rights while identifying the documents and other information that will be necessary. After assessing the circumstances, the lawyer can devise plans to deal with estimates of property values, child and spousal support, along with child custody issues and potential safety concerns. Therapists or counsellors can help a divorcing woman cope with emotions, and other members of the team could include an accountant, financial planner, insurance agent, realtor and mortgage broker to provide guidance and support.
Another mistake to avoid is delaying important child custody negotiations. Advisors often suggest divorcing couples prevent bitter and costly court battles by negotiating parenting and custody agreements before one party moves out. The third error may be the failure to identify and value all debts and assets. Locating all assets — including titled property — will be beneficial when settlement negotiations get underway. These financial preparations may as well include determining the financial need for spousal support discussions.
Of all the members of the support team, the lawyer might be the most important. An experienced British Columbia divorce lawyer can provide skilled advocacy throughout. Even if it is not a contested divorce, a lawyer can provide valuable suggestions and advice — even during mediation. Also, he or she can review all documents before they are signed.