Those who are on the verge of filing for a divorce will face many difficult decisions. The entire process can leave one hurting, not just emotionally but financially as well. Florida residents who are beginning the divorce process may wish to consider whether a collaborative law approach would be a viable option.
There are common mistakes that can complicate the divorce process. While many people share events on social media sites, it may be better if those who are going through a divorce refrain from posting any personal news during the proceedings. If one is claiming financial difficulties, it may be counterproductive to boast about bonuses or costly expenditures. Another potentially costly error is neglecting to compile all relevant financial information. Though one may not see a need to keep paperwork relating to a home improvement project or some other expense, not doing so could affect a settlement agreement.
Retaining records that contain information about a spouse's future Social Security benefits is beneficial if the marriage lasted for 10 or more years because one could be eligible to receive benefits based on a former spouse's earnings. In addition, opting for certain assets in a settlement could prove to be costly if there will be tax consequences related to those assets. One other mistake is overlooking joint credit accounts. If these are not closed and the balances transferred to the responsible spouse, then the other spouse could face unexpected debt.
Lastly, another costly mistake could be assuming that one must pursue a conventional divorce. A collaborative law approach could potentially reduce the cost if the spouses can work together to reach an agreement outside of the courtroom. Florida residents who are seeking a divorce but are able to work with their former spouse could choose the services of an attorney who offers a collaborative approach for a less contentious and less costly dissolution.