Amidst the chaos of divorce, it's easy to get caught up in worries about your children, your future, and the unknown. However, rest assured that these concerns will find resolution over time. What's irreplaceable is the money slipping away during a lengthy legal battle, diminishing your resources that are vital for your safety and security today, as well as the wealth you'll need tomorrow.

For those of us approaching retirement, these financial considerations become even more crucial. As you near this milestone, the dynamics of your finances will shift significantly. Anticipate changes in cash flow, as alimony, spousal support, and child support may no longer provide the same level of financial cushion. It's imperative to safeguard your net worth, family income, and assets to ensure financial stability both now and in the years to come.

5 Risks with Inefficient Divorce Settlement Processes:

1. Asset Devaluation and Hiding Assets:
Former partners may reduce asset values by increasing debt, selling off equity, shares, or assets, and hiding assets, impacting the overall asset distribution.

2. Income Manipulation:
They might decrease documented annual income to lower alimony or spousal support payments, affecting the financial support owed post-divorce.

3. Health or Career Changes:
Critical illness or career changes can lead to a decrease in future earning potential, potentially reducing the support payments owed.

4. Avoiding Financial Responsibilities:
They may exit the country, drain assets, retire early, default on payments, or engage in other tactics to avoid financial responsibilities post-divorce.

5. Unforeseen Circumstances:
In worst-case scenarios, unexpected events like early death could impact financial settlements and support agreements, leading to uncertainty and potential financial strain.

This is just one element we can cover in your complementary consult call with Lemonade Life. To learn more about this support click here.