A Few Tips To Help You Get The Most Out Of Your Divorce Settlement

While it can seem almost impossible to put a value on the effort and sacrifices that a couple invests in building a life around a marriage, that is basically what a judge will attempt to do when coming up with a divorce settlement agreement. When determining how to divide assets, for instance, courts will assess what type of arrangement would be most equitable based on the parties’ incomes and contributions to the marriage. Fortunately, there are a few things that couples can do to help them get the most out of their divorce settlements.

Hiring a Forensic Accountant

Hiring a forensic accountant, especially in a high asset divorce, is especially important, as it is much more likely that assets will be hidden, concealed, or even merely forgotten. A forensic accountant can track down all separate and shared assets, accounting for and valuing them ahead of time, making it more likely that any property settlement will be fair to both parties. They are also specialists in discovering suspicious activity, like attempts to sell assets at below-market prices.

Working with an Accountant

While a forensic accountant can play a critical role in tracking down a couple’s assets, a personal accountant can help couples get a better idea of how much they will need each month to meet their needs and to maintain their standard of living. This information is particularly important when it comes to questions about alimony and child support.

Documenting Your Needs

Spouses with special needs, like medical conditions, will likely incur additional expenses that could make it difficult, or even impossible to return to work on a full-time basis. These needs will need to be weighed and considered when determining a person’s share of assets and alimony. Any needs related to the care of underage children should also be noted, as these costs will be extremely relevant to the eventual divorce settlement.

Negotiating Carefully

It can be tempting, especially in acrimonious divorces, where tempers and emotions are high, to pick a point of view and stick to it. It’s best, however, for couples to let their attorneys lead negotiations, so the parties can keep their emotions out of the mix, which in turn will help them reach a resolution more quickly. Couples can even try mediation or collaborative divorce, which can help keep costs down, preserve marital assets, and result in a more amicable and speedy resolution.

Speaking with a Divorce Lawyer

Some people may not feel like they need to talk to a lawyer until they have already informed their partner of their intentions. There are, however, benefits to speaking with an attorney even earlier. By consulting with an attorney, for instance, a person will have a better chance of stopping their partner from hiding or disposing of assets in an effort to avoid dividing them.

A Dedicated Florida Divorce Lawyer Can Help

If you are thinking about filing for divorce, experienced and compassionate Florida divorce lawyer Sandra Bonfiglio, P.A. is here to help. Contact us today to set up a free consultation and take the first step towards reaching a beneficial divorce settlement.

Sources:

forbes.com/advisor/legal/divorce/divorce-settlement-agreement/

leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0000-0099/0061/Sections/0061.075.html