CORONAVIRUS (COVID-19) NOTICE LEARN MORE

Articles Posted in Divorce

Post-Divorce-Checklist-FL-blog-300x200For most couples, the divorce process starts the moment they realize their marriage is beyond repair, long before they get attorneys involved and start the legal process. It can be months, and in some cases years, between the time a couple decides to dissolve their marriage and the time the divorce is finalized by the court. So, it’s no wonder that once they do have their divorce decree in hand, they want nothing more than to sit back and heave a sigh of relief. But there’s still work to be done.

Once a divorce is finalized, there are loose ends to tie up, some of which are time sensitive. To make sure you don’t miss important deadlines or forget to update important documents, it’s a good idea to create a post-divorce to-do list. For help on what such a list should include, read “Post-Divorce Checklist: Exactly What You Must Do After Divorce.”

Divorce-Credit-Score-FL-blog-300x200There’s no question that divorce impacts many areas of your life: family dynamics, social relationships, even your credit score. In fact, 54% of women and 42% of men reported their divorce negatively impacted their credit scores.

Why is that? Divorce can change your financial habits and obligations. Joint debt accumulated during the marriage—mortgages, credit cards, car loans—is considered by creditors to be the obligation of both parties to which the credit was extended. In a divorce, the court may decide which party is responsible for which debt, but that doesn’t change the creditor’s expectations. When the responsible party misses a payment either by accident or out of spite, the lender to whom the payment is owed still considers both parties responsible. Closing all joint accounts is not necessarily the answer as that can lower your credit score as well.

There are ways you can minimize the impact your divorce may have on your credit rating, however. To learn how read, “Does getting a divorce affect your credit score?

Understand-Child-Support-FL-blog-300x200When parents are seeking a divorce, some of the biggest issues they will need to resolve involve their children, specifically custody arrangements and child support.

On the most basic level, child support is intended to cover the essential, daily needs of the children: food, clothing, and shelter. But support payments can also extend to cover additional expenses, including those related to education, healthcare, employment-related childcare, and extra-curricular activities. These additional expenses can often be a source of conflict between divorcing parties. If the parents cannot come to an agreement on how to divide these expenses, the court will intervene.

To prepare yourself to negotiate an equitable child support agreement or to better understand the court’s ruling, read “The Ultimate Guide to Child Support.”

Rushing-Divorce-FL-Blog-300x200For most couples, divorce isn’t a decision arrived at overnight. Usually, the decision to divorce comes after long periods of living with irreconcilable differences and numerous attempts to resolve conflicts. It is understandable then why, once the decision to divorce is finally reached, couples just want it to be over with so they can get on with their lives. Rushing through the divorce process, however, can be a bad idea.

No matter the reasons behind a couple’s decision, divorce can be a very emotional process. Those emotions can hamper a couple’s ability to make good, sound decisions. Agreeing to something for the sake of getting the divorce over with can negatively impact life post-divorce. To learn more about why rushing through a divorce is never a good idea, read “How Long Will My Divorce Take?

Settlement_Agreement_AdobeStock_236389547-300x200When negotiating your divorce settlement, it is important to carefully review every detail. Once a settlement agreement is reviewed and signed by both parties, the divorce is considered finalized. What happens then if it is discovered that something has been left out of the agreement? What recourse, if any, do you have?

The answer depends, in part, on whether the oversight is discovered by both spouses who then agree on the distribution of the assets involved, or if only one spouse realizes that an oversight has been made and seeks to amend it. To learn more, read “Steps to Take When an Issue in a Divorce Settlement Is Overlooked.”

Retirement-plans-FL-blog-300x200The distribution of assets can be one of the most complicated and contentious aspects of any divorce. That applies to the division of retirement accounts, too. Failure to correctly identify the type of retirement plan involved can lead to tax complications down the line.

Distributions from IRAs and Qualified Retirement Accounts are subject to different tax treatments. Understanding the rules that apply to the division of assets from each type of account can help assure that any applicable tax burden is attributed to the correct party. To better understand these differences and their potential tax liabilities, read “How to Split IRAs and Other Retirement Plans During a Divorce.”

Divorce__Tax_Status_AdobeStock_406052896-300x198
If you are recently divorced or currently going through the process, even routine matters like filing your annual tax return raises questions.

Can we still file jointly?

Must I add spousal or child support payments to my adjusted gross income?

co-parenting_AdobeStock_215648138-300x200

For many divorcing couples, co-parenting arrangements offer viable solutions to less-than-ideal situations by allowing each parent to maintain an active role in the parent/child relationship. These arrangements, however, are not without their challenges, and that was never more true than during the current pandemic.

Thanks to COVID-19. such questions as whether to send your child to school, allow him or her to participate in team sports, or attend an event can now elicit polarizing responses. What can parents do when strongly opposing viewpoints toward the pandemic threaten to impede their ability to honor the terms of their parenting arrangement? Read ”Co-Parenting Through COVID-19: Putting Your Children First” for some inspiration.

before_hiring_divorce_attorney_AdobeStock_121654723-300x200The past year brought unprecedented challenges that caused many of us to reassess various aspects of our lives – our jobs, our lifestyles, our relationships. For many couples, the challenges proved too much, leading them to contemplate divorce.

Terminating a relationship is a big step not to be entered into rashly. Before you hire a lawyer and sign your divorce papers, there are several things you should do to make sure the decision to divorce is right for you and your family. And, if it is, these steps can help ease your transition to your post-divorce life. To learn more, read “Decided to Divorce? Here’s Where to Start.”

divorce_transition_AdobeStock_232818797-300x200Transitioning from married life back to single life can be unsettling, especially when there are children involved. Nothing about your everyday life in the time leading up to your divorce is quite the same yet, for the sake of your children – and your own emotional health – it is important to move forward with a positive attitude.

Navigating the unknown is difficult in the best of times, let alone when you are feeling confused and emotional. But relationship experts say there are steps to focus on that can lead you on the path of making the best decisions for both you and your children. To learn more read, “5 Things Parents Should Do After Separating From a Partner.”

Contact Information