Avoid These Common Divorce Mistakes

The decisions that a couple makes during divorce proceedings will have long-term repercussions for all of the parties involved. This is why it is so important for divorcing couples to stay calm, remain focused on compromise and negotiation, and retain an experienced attorney who can help them navigate the ins and outs of the divorce process. Read on to learn more about some of the most common divorce mistakes couples make and how you can avoid them during your own proceedings.

Hiding Assets 

When a couple divorces, both spouses must make a full and accurate disclosure of their incomes, assets, and debts. The parties will then need to reach an agreement dividing their marital property, or assets acquired by either spouse during the marriage. Unfortunately, some individuals try to hide certain assets by failing to disclose them, giving them away, or even selling them, all in an effort to avoid dividing them with a soon-to-be former spouse. This type of conduct is not only unethical, but can result in significant legal consequences for the spouse who tried to hide the assets. Someone who attempted to do so, for instance, could end up losing the asset entirely or even be held in contempt of court.

Overlooking Tax Implications 

How assets are divided during divorce can have important tax-related repercussions. Some assets, for instance, could have hidden tax liabilities, while others could be subject to capital gains taxes if they are sold. Paying or receiving alimony and child support will also need to be reflected on a yearly tax return and could affect the types of deductions and credits for which a couple could qualify. Working with an attorney can go a long way towards helping couples understand the potential tax consequences of a divorce settlement.

Failing to Comply with a Court Order 

It is not uncommon, during divorce, for courts to issue temporary orders regarding matters like child custody, alimony, and payment of household expenses. These orders, although temporary, are still legally binding, as is the final divorce decree entered by the court. This means that couples must abide by the terms of those orders or risk fines and court sanctions.

Failing to Retain a Divorce Lawyer 

Legally ending a marriage is a complicated process, so couples who don’t hire an attorney to help them could end up making costly legal mistakes that could affect their lives for years to come. An experienced Florida divorce attorney can help couples navigate the divorce process, negotiate a divorce settlement, and if necessary, litigate a case in court.

Are You Planning on Filing for Divorce? 

We understand that ending a marriage is challenging and will do all we can to make the process go as smoothly as possible for you and your family. Call dedicated Fort Lauderdale divorce lawyer Sandra Bonfiglio, P.A. at 954-945-7591 today to get started. You can also set up a free consultation with a member of our legal team by completing one of our online contact forms.

Sources:

 floridabar.org/public/consumer/pamphlet010/

forbes.com/advisor/legal/divorce/florida-divorce/