When I look at divorce settlement proposals for clients as part of my Strategy Sessions, there’s one thing I consider above everything else. I’d encourage you to do the same. In evaluating your divorce settlement, think of this first and foremost: Are you able to uphold this agreement?
Oftentimes, people want the maximum child and/or spousal support possible — and I get that. However, if someone is making a promise they can’t uphold yet they’re signing a legal, binding document saying they will, it could land everyone in hot water (or, at the very least, lead to unnecessary drama and possible post-decree issues).
It’s important for you and the other person signing the divorce agreement not to make promises you can’t keep. Consider these three things when evaluating your divorce settlement to ensure you're not forgetting the cardinal rule of “don’t make promises you can’t keep.”
Like I wrote in Refinance...