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Mistakes made when addressing property division can be costly

During the divorce process in New Hampshire, oversharing on social media remains a common mistake that can affect a person financially. However, several other mistakes can also have significant financial consequences for those going through divorce and dealing with issues such as property division. Here are a couple of them.

The first mistake involves not collecting all applicable financial documents as soon as possible upon deciding to get a divorce. These documents range from statements with bank balances to receipts that document home improvements. Other important documents to collect include paperwork showing what was paid for key assets -- for example, cars and homes. The more information that a person has at the outset, the more capable he or she is of making informed decisions related to property division.

The second mistake is assuming that issues like property division cannot be settled outside of court. The truth is, resolving these matters through mediation or informal negotiations can save both time and money. In addition, if the two parties have young children, it can help to preserve their relationship so that their co-parenting experience can be as amicable as possible.

Sometimes, though, certain aspects of property division may seem impossible to resolve in an out-of-court setting. For instance, maybe two spouses cannot agree on who gets to keep the family home, or how to divide other pieces of real estate. In this scenario, a judge must step in to make these decisions for the couple. Nonetheless, an attorney in New Hampshire can help someone who is getting divorced to fight for the most personally favorable outcome either out of court or at trial.

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