There some common mistakes that happen at the end of a relationship (if one can even call them that) which most resident of White Plains, New York, would recognize right off the bat.
For instance, no matter how angry one is about a divorce or separation, violence and other criminal behavior is certainly prohibited. It should also go without saying that actions such as flagrantly emptying jointly-held bank accounts, hiding assets, or other endeavors to hoarde or disguise marital holdings are serious lapses in judgment that will paint you in a negative light once they have been discovered and brought before a court.
While perhaps a more common mistake, by now most people probably know that posting derogatory remarks on Twitter, Facebook and the like can come back to haunt them, as can poorly thought-out emails or text messages.
However, there are some more subtle financial mistakes that happen during a divorce that can trap even well-intentioned people who may be suffering some stress or who may just not be aware of the consequences of their actions.
For instance, someone might be tempted to draw a hard line with regard to retaining the marital residence, even if doing so will place a great financial burden on that person, or will be an investment that offers little if any return. A person can find oneself trading a lot for what amounts to little if any benefit.
Likewise, a person may go through the process of divorce or separation without ever thinking about the long-term financial consequences and tax implications of their decisions. As one example, a person may be willing to assume a bunch of debt with the thought that they can just use cash from a 401(k) to pay them off without considering that this will likely lead to a substantial tax penalty.
On the whole, a person needs to approach a divorce or separation as calmly as possible and with a concrete legal and financial strategy that can be formulated with the help of a New York divorce and family law attorney.