DivorceMag: Arizona FAQs

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Frequently Asked Questions About Divorce

"After 20 years together, my husband and I have decided to divorce. We have a joint bank account and joint credit cards. When should we separate these? And when should I get my own credit card? And what about unpaid balances on joint credit cards, if one of us runs up the balance? Do both spouses have to pay, even if they aren’t together anymore? "

The initial stage of your divorce is critical, and will play a major influence on how the entire process will unfold. If issues are mishandled, your divorce can become excessively costly, prolonged, and confrontational…

"Is it essential that I hire a divorce lawyer? "

Yes and no. If you haven’t been married for long, you don’t have kids, you don’t have much debt or many assets to distribute, and you and your spouse are able to work everything out on our own, then…

"Can you tell me some of the benefits of Collaborative Divorce? "

Collaborative Divorce has several benefits compared to traditional litigation.

To begin with, a key benefit of Collaborative Divorce, and probably the most obvious one as well, is that it can help reduce…

"When should we separate our joint bank and credit-card accounts?"

CDFA and financial planner Carl Palatnik answers: "The way the two of you interact during the earliest stages of your divorce will set the tone for the entire process. Handled improperly, your divorce can be unnecessarily contentious, prolonged and costly, and settlements can be unfair or unworkable. Aside from your major economic goal -- to financially survive your divorce -- you and your husband will most likely need to continue to interact once your divorce has been finalized. Unnecessary emotional scarring during the divorce process can make this much more difficult.

Too often clients come to me after their divorces have been finalized. This is a major mistake. Working with a financial planner in the earliest stages of divorce can help you focus on your long-term situation, and empower you to make better and more informed decisions during the process..."

"What are some of the advantages of Collaborative Divorce?"

DivorceMagazine.com answers: " The most obvious benefit of a Collaborative Divorce is the reduction in stress and emotional trauma. It's an alternative to the traditional, adversarial method of resolving divorce in which two sides fight each other in court. Instead of trying to demolish each other through character attacks and public humiliation, both sides in Collaborative Divorce work together in a private setting to come up with a mutually beneficial resolution. Unlike in a long, drawn-out court battle rife with personal conflict, participants in a collaborative settlement walk away with dignity and self-respect.

Another important advantage is the power and control that Collaborative Divorce affords you. In litigation, the final decisions rest with a court-appointed judge, who only knows you through the trial testimony and whose range of options is limited..."

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