Divorce legal issues

 

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• 2Divorce legal issues
  • 2.1Divorce FAQ
  • 2.2Divorce Discussion Forum
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[top]Divorce FAQ

What documents should I update after I get divorced?

When you get a divorce, you need to update everything related to your beneficiaries, your power of attorney and your will.

Make a list of the people you want to name as heirs and what you want them to inherit. Then update your will.

Decide who you want to have power of attorney and handle your health care decisions when necessary, and who should handle your affairs when you die.

Designate new beneficiaries for your insurance policies and retirement plans.

An attorney can help you make sure you cover these steps properly.


What kinds of legal and other costs do I face in a contested divorce?

It depends. Getting a contested divorce can be a costly proposition -- not just emotionally, but financially as well -- especially if you have a lot of assets. You will have to pay legal fees and other expenses, from property appraisers to accountants. The fees are higher in some areas; in New York, for example, the costs for one affluent party of a contested divorce can easily run $100,000 or more. Many couples have considered the cost of a contested divorce and then managed to come to a settlement on their own.

Before signing a final agreement, each spouse should have a divorce attorney review the proposed settlement. You may need a tax lawyer or accountant to review the document and analyze its tax ramifications.


Can we use mediation as an alternative to hiring a divorce lawyer?

Mediation generally costs a fraction of the thousands or even tens of thousands of dollars that former couples can spend on legal fees in a contentious divorce.

Getting a divorce can be an expensive proposition. Divorce lawyers charge anywhere from $75 to $350 an hour. Additional fees can be incurred if other professionals are needed, such as an appraiser to estimate the value of the couple’s property or an accountant who must be consulted to assess the settlement’s tax ramifications.

Fortunately, not all divorces must be handled by a lawyer from start to finish. The most common alternative is a professional divorce mediator. You might not want to try mediation with a spouse who is unreasonable and hostile, but, if both sides realize that it’s in their best interests, they often can work through the process.

However, each spouse should consult an attorney before signing the final agreements.


Can we negotiate our divorce settlement without using lawyers?

Amenable couples, especially if those with no dependent children, can often negotiate a settlement and file for divorce themselves, without paying high-priced lawyers to fight for them. And it’s not an all-or-nothing deal. You can negotiate yourselves or hire a mediator.

Some good do-it-yourself divorce books are available, as is inexpensive computer software. Consider consulting with a lawyer before filing the final agreement, so nothing egregious is overlooked.


Can I deduct the legal fees for my divorce?

You can’t deduct the cost of personal legal expenses, including legal fees for a divorce. However, after the divorce, you can deduct any expenses for collecting alimony under your divorce decree.

[top]Divorce Discussion Forum

Latest threads from the forum Divorce, Separation, Annulment

All issues concerning dissolution of a recognized relationship.

 

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