Two Decades Of Florida Family Law Experience

Finances and divorce negotiations

On Behalf of | Jul 29, 2022 | Divorce

Filing for divorce could represent a way to end a troubled marriage. Safety concerns may drive some partners to separate. While personal safety and psychological health are important, spouses involved in divorce proceedings in Florida must also look at financial matters. Distributing assets and seeking support reflect two critical elements of a divorce.

Financial matters and organization

Proper and thorough organizational skills could help both parties tremendously during the process. Compiling all financial statements and information could eliminate confusion by painting a definitive picture of everyone’s assets. Bank and investment statements, both personal and joint, represent typical examples. There are others.

Other documents may include ones related to life insurance and retirement accounts. Even documents related to debts, such as credit card and mortgage statements, will enter into the process. Both parties could expect tax documents to gain scrutiny.

Reviewing a full picture of assets and liabilities may guide the court to divide things equitably. However, it could be better for both spouses to negotiate an amicable settlement.

Divorce negotiations and settlements

The divorce negotiation process could allow both spouses to determine who receives what. Perhaps one spouse wants the house, and the other agrees to relinquish it in exchange for something else. Or, both could decide to sell the house and divide the proceeds.

Negotiations may focus heavily on support amounts. One spouse might have limited earnings potential, driving the spouse to ask for a higher temporary maintenance amount. For couples with children, questions may arise bout how much child support is necessary.

Parties that work out their differences may find an agreeable settlement is less costly and stressful than a trial. If stumbling blocks arise, mediation could be another option.