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Tips may help with navigating financial aspect of divorce

During the dissolution of a marriage, one of a spouse's biggest areas of concern may understandably be money. After all, transitioning from one household to two households with the same pot of money can be challenging. Here are a couple of tips for navigating the financial aspect of divorce in Florida.

First, it may behoove a divorcing spouse to seek out the guidance of a financial planner early on in the divorce proceeding. A financial planner can help with matters such as the management of joint debts -- a major issue during marital breakups. He or she may also provide financial advice related to other aspects of the divorce, such as spousal support or child support.

Second, closing joint credit accounts as soon as possible may be a smart move during a divorce proceeding. It is critical for two divorcing parties to stop accumulating debt in both of their names. By racking up more joint debt as the divorce progresses, the two future exes may cause more damage to their credit reports and scores and unnecessarily complicate the marital breakup process.

Finances remain a major area of conflict during divorce proceedings in Florida. However, if two spouses going through divorce can find common ground regarding matters such as property division at the negotiation table, they may be able to avoid further court intrusion. An attorney can provide a divorcing spouse with the guidance he or she needs to pursue the most personally beneficial outcome possible given the circumstances surrounding the divorce.

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