Hi! I am Lee Rosen of the Rosen Law Firm. Thanks for watching today. Should you hire an attorney for your divorce? Now, I am sure you expect me to say, yes. I am an attorney after all and guess what, you are going to be right. Lots of people hesitate to hire an attorney because they feel that we make things worst not better. That we add conflict.
Sometimes that's true, but generally I think we bring a lot to the table. We have the training and the skills to make things go more smoothly. Most importantly, we know the danger zones and can help you avoid making expensive mistakes.
Here are some of the most common mistakes that people make when they don't have a lawyer.
Mistake number one: They forget to divide assets. They may not even realize there is an asset to divide. The most commonly overlooked asset is the retirement plan, especially pension plans that don't have an account balance and that won't pay any money out for a long time in the future. Some times these are the most valuable things that family owns and when they are overlooked, they simply don't get divided. People forget they exist.
Mistake number two: Some assets require a special process in order to be divided. For instance, with the pension plans I mentioned earlier, I have seen a lot of mistakes. Some people for example suggest that they will divide the plan by borrowing against it and paying off the other spouse. Big mistake, there are much better ways to divide the plan using special federal laws that make the division a tax free transfer. That's just one example of an asset with a special process or special rules for division. There are lots of others.
Mistake number three: You may draft a document, if you do it yourself that proves to be unenforceable. Some people promise to do things but they don't do, they fail to do what they agree to do and when that happens, the document that you drafted needs to be binding and enforceable if you are going to make them do what they said they were going to do. Now there are right ways and wrong ways to draft these documents and you need to be sure it's done properly. Lots of mistakes are made when drafting is part of the process.
Mistake number four: You may assume that property division is required to be 50-50, that's not always the case. In many instances, property can be divided in some way other than equally and you might have been the beneficiary in one of those situations.
Finally mistake number five, and to me anyway this is the biggie. When you don't have an attorney, you fail to take advantage of years of experience from someone that has done this many times before. You get divorced once, your lawyer has been through a divorce hundreds of times. There is a sense of security in knowing that you have some one on your team that can guide you and can help you to be objected and rationale.
Having that person on board and trusting their advise helps you reach agreement faster and with less stress and less anxiety. I always like to ask for help from someone that has done it before no matter what I am doing. If I am going bag packing, I like to get help. When I buy a house, I like to get help. When I make decisions about raising my kids, I like to get help. Divorce is difficult, this is the right time to get some help.
Now you may be worried about your lawyer taking things in the direction you don't like. Remember who is the boss. You are the one hiring the lawyer, you get to make the calls. You are the decision maker because when all is said and done, you are the one that's going to have to live with this divorce settlement after its over. You are the decision maker not your lawyer.
Get the help and advice you need and manage your lawyer, so that things are handled in the manner you wish to have them handled. Again, you are the boss after all you are the one paying the bills. Speaking of paying the bills you may have some anxiety about legal fees. You may not have cash available right now because of the expensive separation and all the things that you have to pay as you go through this process. This is the time to be willing to seek help. I have had clients go to parents, brothers, sisters, relatives, friends to get financial help. I have had clients go and get bank loans, credit card advances, 401k loans, there are options your lawyer will be familiar with them. Talk them through with the lawyer.
This is a tough time and it might be the toughest thing you will ever go through. Get a lawyer on your team, someone you can trust, someone you can count on to help you through this process. I am Lee Rosen for the Rosen Law Firm.
Transcription by:
Scribe4you Transcription Services