In a divorce, there will always be times when it seems like you aren’t getting everything you want or need to move forward. Your spouse might be arguing that they want assets that you feel belong to you, or you might want something that they covet as well.
There are times when fighting for assets can be beneficial. There are also times when doing so will simply drain you of money and time, which is detrimental overall.
Knowing when to negotiate and settle is key
It’s important that you know when to agree to give up an asset versus when you should fight for it. Understanding when you should negotiate for specific assets can only happen when you set up a budget and write out what you need out of the marriage to sustain yourself after the divorce.
For example, you may know that the only way you will be able to manage after your divorce is to sell your marital home. If your spouse doesn’t want to give it up, then you may need to fight for your fair share.
On the other hand, if you have a vehicle and are trying to negotiate for a second, you may want to settle for less if the fight is dragging on and costing you a significant amount of time and money. If it’s not something you need to move forward, then it may be worth negotiating it away in exchange for something else.
People sometimes fight tooth and nail for assets that they feel connected with or that they believe they need, but spending hours at the negotiating table over a $10 trinket or even a $1,000 item may not be worth it after you pay the legal fees, appraisal fees and other expenses.
Your divorce is a business arrangement
Approach your divorce from a business-minded standpoint, so you can make good financial decisions while negotiating on how to divide your property. Even though you may want to negotiate for more, it’s responsible to know when to settle and to cut your losses in order to save more money and time overall.