Don’t be in the Dark about Finances in Divorce - Men's Divorce Law

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Don’t be in the Dark about Finances in Divorce

Don’t be in the Dark about Finances in Divorce

One of the biggest mistakes you can make in your divorce is to not have a full understanding of your marital finances. In many cases, there is one spouse that handles the majority of the financial decisions. This gives that spouse an advantage over the other spouse that does not have a complete picture of the marital income, assets and other financial matters.

As soon as you believe divorce is a possibility, you should start collecting as much financial information as you can. This means copying financial records such as account statements, tax returns, credit card bills and any other information that relates to your marital wealth.

You should also determine how your assets are held or titled. If you believe that your spouse may attempt to sell certain assets or retitle assets into her name only, it is important to inform us immediately so we can obtain a court order restraining her from taking any such action. You should monitor your joint accounts and if your spouse takes action to transfer funds without your consent, it may be necessary to retain forensic accountants to assist you with locating or valuing the assets.

Another way to save money in a divorce is to consider mediation to resolve any disputes between you and your spouse. Reaching a fair settlement outside of court can significantly lower your legal fees as well as save you time and heartache. During the mediation process, a neutral third-party will confer with you and your spouse and help you reach an agreement regarding child custody, spousal support, child support and the division of property. Mediation provides you with a lot of flexibility and allows you more control over the decisions that are being made for your family. If you take your disputes before a divorce judge, he or she will make all of the decisions and they will be binding on you.

Finally, it is important to mention that hiring a “pit-bull” attorney to punish your spouse is not a wise financial decision. A judge is unlikely to penalize your spouse financially for the mistakes she has made. Additionally, hiring a lawyer to go after your spouse will only result in higher legal fees. Remember, the best revenge you can get on your spouse is to live a healthy and wealthy life once the divorce is over.

Contact the knowledgeable attorneys at the Men’s Divorce Law Firm. Our office is located in Orlando, Florida, but we proudly serve husbands and fathers across the State.

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