smart spending

Negotiating a divorce settlement

Lust
Lust © stefanolunardi/Shutterstock.com

Lust of the sexual type has ended many marriages, but the lust for power or control is a deadly sin of divorce proceedings. Many individuals negotiating a divorce settlement believe they can manipulate the process by withholding information or refusing to cooperate.

"When one of the parties, or worse, if both parties, in their lust for control, hide assets from their spouse, this is almost always discovered," says Joe Heider, regional managing principal of Rehmann Financial in Westlake, Ohio, who has helped many clients navigate a divorce. "This results in prolonging the proceedings, which dissipates assets through increased legal fees, lengthening the process, and it also heightens animosity between the former spouses."

Individuals should enter divorce proceedings with all financial data on the table and a level playing field to avoid a power struggle, Heider says.

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