Schwam-Wilcox & Associates, Attorneys and Counselors at Law
While You're Going Through Your Worst, We Are At Our Best
407-982-2714 | 888-337-5886
Se Habla Espanol
Evening appointments available for Clients
from 9:00pm to 11:00 pm

Cooperation between divorcing Florida couples helps bottom line

Divorce is difficult even under the best of circumstances. It can be even more stressful when both parties refuse to cooperate with each other and their lawyers, often making the situation even worse.

When you know it's over and divorce is imminent, resolving to cooperate with the details of the split can make for a better financial future. Though it is next to impossible to put differences aside, and emotions become responsible for initial decisions, waiting just long enough to take a breath and step back may work very well in favor of a more amicable dissolution.

Where investments, retirement accounts and other financial issues are concerned, it might be wise to include the assistance of a financial planner if you have one. Divorce decrees set up the future concerns of both parties and aren't just about what's happening at the moment. Because there may be animosity felt by one or both at the time of mediation doesn't mean that those strong feelings will always be there. Making decisions in such an emotional state can have devastating long-lasting effects. Enlisting the help of objective financial planners and attorneys when you divorce might help to reduce tax liabilities that will hurt the entire family on both sides.

Using an approach of respect and logical thinking can save both from losing a larger portion of what they have accumulated to Uncle Sam, for example. Let those who understand the implications of early cash-ins and splitting of assets guide your decisions instead of acting purely from an emotional standpoint. It is common for couples to wish that a divorce end as soon as possible, but a bit of patience can mean a much better outcome.

Source: Financial Planning, "Divorce Ahead? Help Clients Get a Fair Deal", Elliot M. Kass, November 21, 2013

No Comments

Leave a comment
Comment Information