The process of getting divorced is understandably an emotional one, but it is also a major financial process. This is especially true for couples who have amassed a high volume of assets, particularly high-value assets, over the years. A couple of tips may help with navigating the financial aspect of a divorce in Arizona.
Divorce does not have to ruin financial situation
Divorce timeline involves several steps
Making the decision to get divorced is the first step in dissolving a marriage in Arizona. Several other steps follow this decision. Although a divorce proceeding can be unpredictable, knowing what to expect can help to make dealing with unpleasant surprises a little easier.
Being prepared critical when embarking on divorce process
The emotional, financial and legal aspects of an Arizona divorce proceeding can make this type of family law proceeding complicated. This is true whether the division of assets involves just a few items or many. It is especially true if the divorce also involves minor-aged children of the parties.
Legal separation has similarities to divorce proceeding
When two spouses in Arizona are having trouble getting along, they may naturally look for the best immediate solution. In some cases, the spouses go straight to getting a divorce, whereas in other cases, separation is a viable option. A legal separation is not as common but may be helpful when the spouses wish to work through those financial or personal issues that are impacting their marriage.
Collaborative divorce can be easier than litigated divorce
Getting divorced in Arizona can be tricky when the two spouses are at odds about how financial matters should be handled. For instance, perhaps one spouse feels that the other one is demanding too much in alimony, or maybe they cannot agree on how to handle the marital home. Collaborative divorce can make it possible to tackle these issues without further court intrusion.
Protecting business from divorce is possible by giving up assets
Companies have to continue to live on beyond the dissolution of a marriage to make money. After business owners in Arizona have poured all of their energy into their companies, it only makes sense for them to do all they possibly can to protect their businesses during divorce. They must also consider that, if their spouses played any role in the operations of the businesses or put their own careers on hold to raise the children, they might have stakes in the businesses, too.
Financial tips may help those who have recently gotten a divorce
The period following the dissolution of a marriage is one of transition, where some serious financial decisions have to be made. These decisions can affect an for the rest of his or her life. A couple of tips may be helpful for making the best financial decisions during and immediately following an Arizona divorce proceeding.
How to go through divorce and emerge as a stronger person
People who have experienced divorce and emerged as strong, confident individuals have something in common: they relied on the support of others.
Postnuptial agreement can protect interests during divorce
Prenuptial agreements, which are signed before two people get married, are not the only legal contracts that can be helpful during the dissolution of a marriage. Postnuptial agreements, which are signed after the marriage, may also prove beneficial during a divorce. In some cases, couples in Arizona draft these documents while separated in an effort to make the divorce process easier.
Addressing the feelings of children during divorce
For most parents, the most difficult conversation that they will have with their children involves the end of a marriage. Suddenly faced with a life-changing transition, sons and daughters of divorce feel torn between two people they love the most. Far too many take the blame for the dissolution of the marriage.
