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Miami Divorce Law Blog

What are the biggest financial divorce mistakes?

There is a lot to think about when going through a divorce. Like many, you'll want to keep a close eye on your finances.

While you may not get everything you want out of your divorce settlement, there are mistakes you can avoid to tilt the scales in your favor. Here are several to keep in mind:

  • House poor. There's nothing wrong with wanting to stay in your home, but you don't want to do so if it will lead to financial difficulties in the future.
  • A focus on the short term. You need to think about the long-term impact of your divorce, as to ensure that you set yourself up for financial success in the future.
  • Overlooking how your financial situation will change. For example, you are now part of a single income family. This may make it more difficult for you to handle all your monthly expenses.
  • Forgetting about tax issues. There is a lot to think about in regards to taxes, so you need to keep these details in mind as you negotiate your divorce settlement. If you don't think about the tax implications upfront, it could cost you in the end.

It's time to address these child support modification questions

Paying child support can lead to a variety of feelings. On the plus side, you know that the money you pay is helping your child live a better life. On the downside, you may have some frustration regarding the impact on your personal finances.

Generally speaking, you are required to pay the amount of child support ordered by the court. However, if there comes a time when your financial situation changes, you may be able to request a modification.

Tips for explaining shared custody to your children

After your divorce is finalized, you may find yourself faced with a shared custody situation in regards to your children.

Despite the fact that this arrangement is common, it won't make things any easier on you. At the same time, it's your job, along with the other parent, to ensure that your children are in the best possible position to succeed in the future.

Divorce and the family home: Things to know

Going through the divorce process is one of the biggest challenges of your life. This is even more so the case if you have a lot of property to divide, such as a family home.

While some people are able to work through this detail in a relatively efficient manner, others find that it's a major sticking point. For example, if you have at least one child with the other person, who gets the family home is even more important.

Is divorce mediation the right approach for you?

If you've come to the conclusion that divorce is in your future, you need to decide how to move forward with the process.

While you may have reason to believe that your case will eventually end up in court, you don't want to head down this path until you first understand the benefits of mediation.

You can take many steps to financially prepare for divorce

When you finally make the big decision to move forward with divorce, you'll be faced with more questions and challenges than you know what to do with.

For example, you'll want to turn your immediate attention to the steps you can take to financially prepare for divorce. The longer you wait to do this, the more challenges you will run into down the road.

Preparing for a divorce

Divorce can be an ugly business. It causes emotional turmoil that can result in depression, confusion and an entire rollercoaster of other feelings. A divorce may also cause your finances to take a hit. This is why starting to prepare can be so important when you are heading for divorce.

As a result of your divorce, you will have to start over. Even if alimony is part of your divorce, you may still have to manage your expenses with a lower income. However, you can take steps to protect your finances.

Do you know how to create a visitation schedule?

If you are going through the divorce process and have at least one child with the other person, you'll want to learn more about creating a formal visitation schedule.

With this in hand, you, the other parent and your child will know exactly what to expect in regards to visitation.

Do you understand the details of parenting coordination?

If you're going through a divorce or find yourself dealing with matters of child custody, you'll want to learn more about parenting coordination.

Last year (2016), the Florida State Legislature approved a statute regarding the use of parenting coordination to settle disputes. The purpose of this approach is to ensure that both individuals make decisions based on the best interests of the child.

Have you answered these child custody questions?

At some point, such as if you are going through a divorce, you may come to find that you have questions and concerns regarding child custody.

While you hope to win custody of your child, you never know what will happen as the process moves forward. This is why it's so important to understand the ins and outs of the legal system, while also knowing where you fit in.

Contact Our Miami Divorce Lawyers — Let Us Evaluate Your Legal Matter

To make an appointment for a consultation with one of our experienced family law attorneys, call 305-742-0063 or fill out our simple intake form today.

From our law offices in Miami, Florida, we represent clients in North Miami, Miami-Dade County and throughout the South Beach area.

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