Things To Keep In Mind When Negotiating A Divorce Settlement
Often, when people think of divorce, they imagine going up against a spouse in a courtroom and in the presence of a judge. While some divorces do need to be resolved through litigation, this isn’t the only way to obtain a divorce. In fact, many couples are able to avoid the courtroom entirely by reaching an out-of-court settlement agreement with the help of an experienced Fort Lauderdale divorce lawyer.
The Importance of Organization
To minimize disagreements and the potential for tension during negotiations, divorcing couples should be sure to go in to the proceedings with proper organization and planning. This includes taking peremptory steps, such as:
- Identifying and addressing the type and value of marital and separate assets;
- Learning about the rules of dividing retirement accounts and pension plans;
- Taking note of more complex assets, like digital currency, which can be more difficult to value;
- Taking note of the couple’s income and expenses; and
- Clarifying the goals and hopes of the negotiation, including a potential custody arrangement if necessary.
To learn more about the steps that you can take to help prepare you for settlement proceedings during your own divorce, don’t hesitate to reach out to our dedicated legal team today.
Carefully Consider the Fate of the Family Home
The family home is often one of the most valuable assets that a family has, so a lot of consideration should go into the fate of this property upon divorce. While one party may have a sentimental wish to stay in the home, whether this is the proper route will depend on the wishes of the other spouse, the parties’ financial situation, and whether the couple has children. During divorce, couples should be sure to familiarize themselves with all of the potential options for the fate of the family home, which could include:
- Selling the property and splitting the proceeds equitably;
- Keeping the home for a certain amount of time, while preparing to sell at a later date;
- Having one person buy out the other spouse’s share of ownership in the home;
- Retaining the home, renting it, and dividing the proceeds; or
- Taking a smaller portion of other marital property in exchange for sole ownership of the home.
By preparing for these options ahead of time, a couple can avoid being taken by surprise by a spouse’s suggestion during settlement negotiations.
Look to the Future
It can be easy to forget to look towards the future when going through a divorce. Doing so, however, is of the utmost importance for the parties involved. Couples should, for instance, be sure to familiarize themselves with the tax implications of selling and transferring their assets, or of paying or receiving alimony. If a couple has children, then it is important for the parties to think about the workability of the custody arrangement in the long-term and to prepare themselves for potential financial changes as the children grow older.
An Experienced Divorce Attorney in Fort Lauderdale
For help negotiating a divorce settlement in an out-of-court setting, please call dedicated Fort Lauderdale divorce lawyer Sandra Bonfiglio, P.A. at 954-945-7591 today.