Negotiating your separation agreement can be one of the most trying, costly, and long-lasting events in your lifetime. Just like our transition to colder weather, a change in attitude and mindset can enhance your chances of a faster and financially positive divorce settlement.

To be better informed and able to make the tough decisions that come along in the process, take a step back and avoid these common mistakes.

Assuming your divorce will be fast and not costly

Depending upon your selection of a divorce attorney or mediator, the amount of assets at stake, the amiability of the partners, etc., your divorce can cost more money and take longer to settle than you may think. For most couples, the whole process can take one to two years. The cost can range from several hundred dollars to several thousand, even if you do not go to court (which can cost at least $30,00 plus for each spouse).

At first blush, splitting the family financial pie would appear to be a fairly simple task. An equitable property division and each spouse’s divorce rights would lead you to believe that each partner would walk away with half of what was shared by two.

This mathematical formula does not consistently work in divorce. Spouses have unequal salaries and income potential. Many times, families live beyond their means; there may not be enough money to go around. These factors, along with the typical “hanging on to each dollar” can elongate the process, which leads to additional time and mounting costs.

Selling out your future

Your final decisions concerning which assets you are keeping will have an impact on your immediate future and long-term goals. What are the hidden expenses (maintenance, income taxes, etc) of the assets you may want? Will you have enough money to pay your bills? What financial assets will you have to face unexpected costs and meet long-term goals (e.g. college costs, retirement, etc.)?

Trading away long-term options (e.g. retirement accounts) for short-term needs (desires) may not be in your best interest, and may lead you to sacrifice tomorrow for what you may want today.

Ignoring Income Taxes

Income taxes will affect most of the major financial aspects of the divorce settlement. Generally speaking, the transfer of property pursuant to a divorce is a nontaxable event. But that changes if you subsequently sell the property; and you will be solely responsible for paying the tax on all of the gain (profit) earned from the time you and your spouse originally purchased it.

Consider carefully how you will file you tax returns while you are in the process of creating a separation agreement. Although there are non-financial considerations, the Married Filing Separate filing status normally yields the highest overall tax rate. Filing Head of Household usually produces the least amount of tax.

You will also want to review the tax implications of alimony and child support, dependency exemptions, and various tax credits that are associated with the custody of the child.

There are ways to minimize the income tax affect and take advantage of tax laws, so you need to be aware of the tax consequences of these transactions.

Not protecting your financial interests

Maybe you’ve been married for 10, 15, 20, years or more. It’s difficult to think about separate accounts or removing your spouse’s name from charge cards. The reality is you are at risk any time you hold a joint interest in, or have responsibility with, or are financially dependent upon your ex-spouse.

What happens in the future if your former spouse defaults on payments, becomes disabled, goes bankrupt, or dies? You should consider these possibilities that could have a significant impact on your financial position, and take appropriate measures to protect your interest (and that of your children).

Not recognizing “A bird in hand…”

You may have to weigh decisions like this: What do you want, the Lexus worth $35,000 or the mutual fund worth $30,000? Do you want lifetime payments that begin at age 65 (or if and when your spouse retires) or $300,000 today?

Keep the phase in mind, “a bird in the hand is worth two in the bush.” In divorce situations, this axiom usually holds true. Let’s take a look at the Lexus. Sure it may be worth $35,000 now, but what will it be worth next year? If you really need cash, how much could it be sold for? The mutual fund is liquid now, will most likely increase in value, and provides a cushion for those unexpected expenses.

What about that retirement income? It sounds secure, but you may have to wait 20 or 30 years to receive the payments. It may be wiser to take the cash now, make prudent investment decisions, and build your own retirement nest egg.

In my experience, it is difficult for divorcing partners to see beyond the day in front of them. Avoiding these mistakes by obtaining the divorce advice of a Certified Divorce Financial Analyst can help you maintain your financial status and minimize the risk of financial loss.

Click Here for more divorce information about how to protect yourself and your family.

Marriage is a sacred thing. You must commit to your partner only if you are very sure that you have found the right person you can spend your lifetime with. But that is only the ideal setting. As the relationship last and as you get to know each other better, both the positive and negative sides, you have two ways to go. You either go on with the flow, singing a happy tune all along. Or you look for tips to save a marriage to try a quick fix with your problems because if nothing is going to be done, you might end up separate ways.

If you are serious about finding tips to save a marriage, you are on the right track. You are having a rough time, but you won’t easily give up. You are still willing to try what others would say about the matter and apply it on your relationship. And that is a very good thing. You have to try to work things out before you start calling your lawyers to start the divorce proceedings. Some people would hastily get out of the relationship for simple reasons that can still be fixed. Think about what you have gone through together. If you have kids, think about them and how they would feel if ever the separation will push through.

Here are some more tips to save a marriage that you can include on your agenda to finding peace amidst the hurdles that your relationship may be faced with.

1. Keep your promises. Whether you are the husband or wife, if you have said something that you know is very important to your partner, keep it. Regardless of how petty or small the promise seems to be, you must make sure that you abide by what you said. This way, you won’t easily lose the trust that your partner has on you. Trust is everything when it comes to relationship. And this is one base that you can enhance such factor, by keeping your promises and staying true to your words.

2. Avoid getting jealous and judgmental. When jealousy strikes you, you will be enveloped by a negative feeling and thoughts that may lead for you to become judgmental. This is something that must be avoided as much as possible when you are in a relationship, especially in marriage. If you can’t help but be jealous, do not try to analyze things that you don’t understand by yourself. You might only create impressions based on what you have seen. Instead, try to talk it out, but make sure that you keep an open mind while doing so.

3. Talk things out before you start lashing into one another. You have to talk matters with your partner in a very diplomatic way at all times. Your conflict won’t be resolved if you will say hurtful words to one another.

4. It is better to be quiet if you are angry to make sure that you don’t say too much hurtful words that you might later regret saying.

5. Do not ever resort to any types of abuse.