Financial Preparation Critical During Divorce Process

Some people who are filing for divorce aren’t ending their marriage because they hate their spouse. Instead, they realize that they have grown apart and that it is time to part ways. If you are in this position, you might find that a collaborative divorce can help you end the marriage in a faster manner.

If you decide to divorce, you won’t be at a loss for things to do. Every decision you make will affect your future, so it’s critical that you keep a clear mind and move forward as efficiently as possible.

Some people dismiss prenuptial agreements as a couple planning to fail in their marriage. In reality, creating a prenuptial agreement prior to marriage or agreeing to terms in a postnuptial agreement during a marriage can protect the marriage and benefit the spouses, as well as protect you in the event of a divorce.

Social media has made it easier than ever for people to remain in close contact with family, friends, colleagues and other acquaintances. It can also put a lot of strain on marriages, including airing spouses’ dirty laundry or facilitating extramarital affairs.

People get divorced for a variety of reasons, such as growing apart, infidelity or disputes over money and children. But a common theme is the loss of trust between the two partners.

According to an old adage, home is where the heart is. This is true in many divorce cases, where the spouses cannot agree on who gets to keep the family home. Understanding all options related to the marital home is critical when dealing with property division during divorce in Bronxville and other parts of New York.

Divorce is hardly an easy process to navigate, both emotionally and financially. Making matters more complicated is the presence of many assets that are subject to property division , or the existence of high-value assets. However, collaborative divorce may offer a viable option for couples in Bronxville who wish to avoid the acrimony that usually characterizes divorce proceedings. In a traditional divorce proceeding, the discovery process often involves gamesmanship. This ends up increasing the length of the litigation as well as the financial cost of the proceeding. It can also take an emotional toll on both parties. However, collaborative divorce is a totally transparent process, which means that formal discovery does not exist. The two spouses agree that information and documents will be retrieved by the spouse who has the easiest access to them. Then, this information will be circulated between the two spouses and a team of professionals, including their separate attorneys, a neutral financial expert and a neutral mental health expert. In collaborative divorce, every team meeting is dictated by an agenda that all parties receive ahead of time so that there are no surprises. In addition, at the end of each meeting, the discussions are summarized in the form of minutes, and the parties reach agreements. Then, the spouses are given particular assignments to complete before their next meeting, during which additional agreements related to matters such as property division can be reached. An attorney in Bronxville can provide guidance on how to navigate a collaborative divorce proceeding in a manner that will be personally favorable in the long term. Source: jaxdailyrecord.com, “ The collaborative process can lead to divorce without drama “, Laura Giovannetti, May 22, 2017