Divorce in Florida: Avoid common missteps

With almost one in two marriages ending in divorce, legal and financial experts are beginning to notice some common and costly mistakes. Missteps include: not seeking the right professional assistance during the divorce process, a focus on finalizing the divorce as soon as possible and not properly reviewing and adjust estate plans after the divorce is finalized.

It may seem counterintuitive, but those who hire professionals to help with a divorce can actually save money. The two professionals most likely to benefit those going through a divorce are legal and professional experts. Lawyers can provide assistance in developing a fair divorce settlement, making sure all assets are taken into consideration while a financial expert like a forensic accountant may be needed to help ensure assets divided in the divorce settlement are valued correctly.

When dividing these assets, it is also important to avoid rushing through the process. Focusing on the finish line during a divorce can be dangerous. It can lead to hasty decisions that may negatively impact life after divorce. Take the time to seriously consider large decisions like whether or not to keep the family home. Carefully consider the pros and cons so the decision is not just an emotional response to this difficult process.

Once the divorce is finalized, make sure to update estate plans and insurance beneficiaries. These documents do not automatically adjust to reflect a divorce. This can lead to an ex-spouse remaining as the primary beneficiary. Reach out to insurance providers and change this designation. Review any wills or additional estate planning documents to make sure they are updated.

Florida divorce law basics

Dissolution of marriage in Florida, more commonly known as divorce, requires only that the marriage be "irretrievably broken." The process begins by filing a petition for dissolution of marriage with the court. If both members of the marriage can agree on property distribution issues, they can put together a written agreement and present it to the court.

Often, the most difficult portion of the written agreement is the distribution of property. A divorce settlement deals with the distribution of all marital assets, including cars, houses, retirement plans and bank accounts. Liabilities like mortgages and credit card bills are also subject to distribution.

Under state law, property is distributed equitably, meaning assets and liabilities are divided fairly, but not necessarily equally. This allows the court to take various factors into consideration when making its determination. Such factors can include:
- Length of marriage
- Whether one member supported the other's advancement in his or her career or educational opportunities
- Any intentional waste after the filing for divorce or two years before filing

Property division determinations may also address issues of alimony payments, child support and child custody agreements.

Those who have minor disagreements on how the property should be split may consider mediation. Mediation is a process that allows the couple to meet with a neutral third party to assist in developing a divorce settlement without the use of a trial. Couples that are unable to reach an agreement are involved in a contested divorce. In these cases, a trial may be needed to reach a final decision.

Determining the best path for a successful divorce can be difficult. If you are considering filing for a divorce or have recently submitted a petition with the court, contact an experienced Florida divorce attorney to better ensure a favorable outcome.

Article provided by Braverman & Hymowitz, Attorneys at Law
Visit us at www.abravermanlaw.com

Contact Information: FL Web Advantage

Source:
Divorce in Florida: Avoid common missteps

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