Thinking About Divorce in the New Year? Don’t Make These Mistakes:

While some people are going into the new year with hopes of shedding some unwanted pounds, others are considering shedding that unwanted spouse. The holiday season is a very busy time for everyone with family gatherings and celebrations, shopping and wrapping, and most people want to simply keep the peace and the status quo through the holiday season, especially when there are children involved. However, when the dust of the holiday season has settled, people often make the difficult decision to move forward with a fresh start for the new year, solo. It is actually so common for people to initiate divorce after the new year that January is nicknamed “Divorce Month”. Both law firms and courts report a dramatic uptick of filings in January every year.

Whether you are the one contemplating separation or divorce, or you received the difficult news from your spouse that they are thinking about separation or divorce, it is really important not to panic and act in an impulsive manner. Generally, the first two things that pop into people’s heads in these complex moments are their children and finances. “How will we afford to live in two different homes?” “What do we do with our joint bank account?” “Who will the children live with?”. It is normal for a ton of questions and concerns to immediately flood your brain. However, it is important not to allow this new uncertainty to lead to impulsive decisions when it comes to your property, finances, or children. It is only natural for you to want to protect your assets and of course, your children. While it’s often beneficial to reflect on your own plans or talk through future options with your spouse, making major life decisions in anticipation of a divorce is ill-advised. Actions such as quitting your job, transferring money to undisclosed accounts, taking out new loans, transferring your children to a new school, listing your marital home, etc. can not only cause significant issues when you finally start the divorce process, resulting in drastic increases in court costs and attorney fees, but in some cases the damage caused by these changes simply cannot be later retracted or fixed, even by the best attorney.

That is why at Bloom Peters, we always advise prospective clients to consult with us prior to making any significant modifications to your life and allow us to advise you on what you can legally do and how to do it properly.

Even if you and your spouse are cordial and are anticipating an amicable divorce, it is money well spent to consult with an attorney on how to begin the process of separating property and finances before making any changes that can have lasting negative consequences. Unfortunately, it is quite often the case that separations start off amicable and harmonious but later become confrontational. At that point it is often too late to untangle the financial mess that has been made.

If you are contemplating a divorce in the new year, it is never too soon to ask for professional advice.