Divorce Settlement Mistakes to Avoid Insights from a Bangalore Family Lawyer
Introduction Divorce is not only emotionally challenging but also financially complex. When dealing with finances, taxes, property, and long-term obligations, navigating through the financial aspects of a divorce settlement requires careful consideration. Having practiced family law in Bangalore for nearly two decades, I have witnessed firsthand how financial mistakes during divorce settlements can have significant long-term consequences. Listed below are the top 15 financial mistakes to avoid in your divorce settlement, together with practical tips to safeguard your financial future. The Full Scope of Finances Ignored Having an incomplete accounting of your assets, liabilities, income, and expenses could result in an unfair settlement. Make sure you have an accurate list of all assets, bank accounts, investments, and debts. Ignoring tax implications You should be aware that divorce settlements may negatively affect your tax liability. If you are contemplating divorce, you should thi...