Planning and preparation can ease property division in divorce

The exchanging of wedding vows is usually intended to last until death. Unfortunately, with a divorce rate still estimated to be around 50 percent, the odds of a couple eventually divorcing may make planning for such a possibility a prudent measure. Florida residents who are anticipating filing for divorce may make property division easier by doing as much preparation ahead of time as possible.

Once the decision to file for a divorce has been made, the next step is to become familiar with Florida state laws regarding the process and time lines for completing the average dissolution. It is suggested that one work to set both personal and financial goals in order to have a vision for post-divorce life. Those with children are encouraged to try and arrive at the custody plan that will provide the best solutions for their family.

In order to facilitate the division of assets, it is helpful to gather all pertinent financial information regarding bank and savings accounts, retirement plans, insurance information and income verifications. Likewise, compiling a list of all the liabilities, including mortgage or rent, credit cards and other loan obligations, gives one a complete financial picture. Once all of the marital financial information has been assembled, developing a budget may enable one to determine what will be needed for financial security after the divorce.

Other steps that may help speed the process are closing all joint accounts and requesting credit reports from the major credit reporting agencies. Once all of the information has been collected and a budget has been developed, the support provided by the right professionals can help make all aspects of a divorce less tedious, including working out the best property division agreement. Florida residents who are seeking a dissolution may feel overwhelmed by the process; however, an experienced and knowledgeable family law attorney can ensure that all legal aspects are handled in the manner that will best serve one’s future interest.

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