Although the troubled economy may have divorcing couples trying to work out their separation, many note that this tactic is ultimately costly. Craig Seldin, Texas-based attorney agrees and offers more insight on how to handle divorce proceedings.
When it comes to divorce, money is often the issue. Who is entitled to what and how much is the divorce trial going to cost? While many couples may opt to work out their problems through mediation to avoid costs, a recent Reuters article notes that being “too friendly” can cost individuals more. The story claims that although divorcees believe that working out issues prior to separation will cut back on costs, there are many hidden elements that may not be realized until later. Respected divorce attorney, Craig Seldin provides further advice on how to handle divorces without comprising individual interest.
The article offers five tips to those planning or going through a divorce that will help each party keep finances in tact. Such suggestions include assessing housing costs, tax implications, finding a professional attorney and staying open-minded. While these issues can be addressed through mediation it is important to find an attorney that understands they are solely working for one party and not both spouses.
Craig Seldin adds, “One of the biggest mistakes a spouse can make is to sign a mediated settlement agreement without making sure that the agreement actually reflects what the spouse agreed to. When such an error occurs, there is little that can be done, as the parties will be held to what is stated in the agreement, not what they intended. This can result in the loss of thousands of dollars to a spouse, such as retirement benefits.”
The article pays particular attention to the importance of observing taxes and how these numbers could affect each individual in the future. Some individuals may fear that asking for full financial information from their spouse may cause a sense of distrust that could impact amicable attempts at divorce. Reuters suggests analyzing everything from how filing taxes separately will impact the family to existing retirement funds.
However, Seldin suggests that paying too much attention to taxes could end up costing individuals more money than necessary. He explains, “Another mistake is to spend a great deal of legal fees in federal income issues, as most of these issues will be dealt with by the IRS regardless of what is stated in the divorce decree.”
While divorce is certainly an emotional process, it is important for those involved to keep the facts straight and not let feelings hamper decisions. Seldin concludes with similar sentiments, “Sometimes a party is motivated by guilt or manipulation by the other party, resulting in a capitulation to the other party’s demands in the division of property. The effects of these decisions can last for the rest of that spouse’s life.”
Skilled in Texas State Law and respected by his legal colleagues, Craig Seldin is an exceptional and versatile attorney serving the Houston area. He maintains close focus on his client’s needs and while he works to achieve results in a progressive manner, he strives to avoid costly practices. He has vast experience in family law and divorce, in addition to bankruptcy, business law, immigration law, criminal defense and several other practice areas.
To learn more about Craig Seldin’s practice visit www.craigseldin.net.
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