A common mistake people make when preparing for a divorce is a failure to consider the state of their finances moving forward and what sort of budget they should realistically be working with while the case is pending.
Before your divorce begins, it’s hard to predict with a great deal of certainty what your financial future will look like. You’ll work through those issues and get a better sense of your financial state in the ensuing months after starting the case, but in the meantime it is critical that you are careful with your money.
Perhaps most importantly, you should avoid purchasing anything excessive or expensive. Here are just a few reasons why:
- You are burning marital funds: It will reflect poorly on you if you start dissipating marital funds knowing a divorce is in progress. Your spouse might ask the judge to hold you in contempt of court. Even if they don’t, you’re still making matters financially harder on yourself than needed.
- You could prompt an emotional response: Your spouse may, understandably, have an emotional response to you suddenly using marital funds for excessive purchases while the divorce is pending. This could result in them no longer be willing to collaborate in mediation, or play nice with their demands. Part of being cordial in the divorce process is being financially respectful.
- You could give a wrong impression of your income: If you start spending large amounts of money, it could signal that you have more money than you actually do, which could draw out the discovery process or hurt you in your ultimate divorce decree.
For more information about how you should conduct yourself financially leading up to a divorce, contact an experienced Minnesota divorce lawyer at Appelhof, Pfeifer & Hart, P.A.
