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Avoiding costly divorce mistakes

| Sep 21, 2020 | divorce

Going through a divorce is an extremely emotional time for most spouses. It can be difficult to maintain your equilibrium and keep a level head during a time when it feels like your life is coming apart at the seams. However, Florida residents should be careful not to make some common mistakes that could lead to a bad outcome during a divorce.

It’s important that you do some number crunching. Figuring out what your finances will look like is crucial to your post-divorce well-being. The budget that supported one household is not going to magically stretch to support two in the same manner. By researching your finances right away, you’ll avoid any budget cut surprises later on. You should also understand what an “equitable distribution” may look like for you. Unlike community property states, equitable distribution states attempt to divide up marital property fairly, which may mean that one spouse gets more of the marital assets than the other.

Part of looking at your finances is going to involve communicating with your soon-to-be ex-partner. Obviously, you’re getting divorced for a reason, and while it might be difficult to communicate effectively, it’s worth the effort. The more conflict and animosity involved in a divorce, the costlier it’s going to be for both of you. If at all possible, work with your spouse and a mediator to settle issues. It will save you money in the long run. Some states even require that divorcing couples go through a mediator before a judge will hear their case. A good mediator will ensure that you and your spouse feel heard and might help you come to an agreement.

If you’re going through a divorce and wondering how it may affect your financial future, consider consulting with a family law attorney. Divorce laws can be complex, so having someone on your side to help you understand it all might ensure a better outcome.

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