Mistakes to Avoid When Negotiating Your Maryland Divorce Settlement Agreement

Negotiating a settlement agreement in your divorce is, for most people, one of the hardest parts of the entire process. It is a scary time, and emotions tend to run high as you are trying to divide everything from your family vehicle to the family home. It is important to have someone on your side who can remain objective. Consider retaining a Maryland divorce attorney who can help you achieve a fair and equitable settlement.

Here is a look at some of the potential mistakes you need to avoid when negotiating property division.

Not Understanding Your Own Finances Before Negotiating

While you may be eager to fight for the home and other high-value assets, you need to understand what the potential financial obligations are if you receive them in the divorce. You may not want to move out of the family home, but can you realistically cover the expenses, maintenance, taxes, etc. that sole ownership would bring? This is one of the biggest mistakes a spouse can make when negotiating in a divorce.

Letting Your Emotions Rule the Negotiations

It is understandable that you will be emotional, but it is imperative that you check your emotions at the door. Your attorney can handle the negotiations, but you need to watch your body language and facial expressions and not have any outbursts when meeting with your ex and his or her attorney. They will be watching for you to react, and if you show emotion and let yourself get riled up, they may use that against you later in the case.

Refusal to Compromise

When you are emotional, you are also far less likely to be willing to compromise, which can seriously hurt negotiations. Holding out because you are not willing to compromise can delay the overall process and cost you more in legal fees. Property settlement agreements are designed to be fair and equitable. While both sides may have a winner-takes-all mentality, it is not going to work out that one spouse gets everything and the other spouse walks away with nothing, unless there are extenuating circumstances like a valid prenuptial agreement in place.

Hiding Assets

One of the biggest mistakes any spouse can make is trying to withhold financial information or hide assets to keep the other side from getting something of value. If you hide assets, it will come out anyway, as the other side will employ experts to uncover what you are hiding; that will not put you in the judge’s good graces. The judge may factor that information in when choosing to approve the property settlement agreement and may even opt to award your spouse more in alimony to make up for the difference.

Retain a Maryland Family Law Attorney

You may think it is smarter to handle the negotiations on your own, without the assistance of a lawyer, but it can only hurt your case in the long run. Without the guidance of a knowledgeable Maryland family law attorney, you are not protecting your legal rights. There may be assets you were not aware were marital property, or you may get too emotional in the negotiation process and subsequently get taken advantage of.

If you are preparing for a Maryland divorce, do not go at it alone. Contact the Law Office of Robert R. Castro today at 301-8701-200 to schedule an initial consultation.