It has been almost two years since the U.S. Supreme Court ruled in favor of same-sex marriage. And, as with all couples, legal marriage also comes with the right to divorce.

Although the same general divorce laws apply to same-sex couples, there are more complex issues to consider regarding legal decision-making, parenting time, and the division of property.

When you are going through a divorce, seemingly minor financial decisions regarding property division and support can result in tax implications – both now and in the future. It is important to consult your attorney regarding taking steps now to prevent tax penalties and future financial complications.

After a divorce, it is important to plan your finances wisely. Your situation has most likely changed dramatically, so it it vital to account for you and your children’s needs both now and in the future.

Unfortunately, many people do not take steps to ensure a more positive financial future. And, according to a recent survey of certified public accountants (CPAs), women are more likely to up their financial planning efforts after a divorce compared to men.

Last month’s U.S. Supreme Court decision solidified same-sex couples’ right to marry. Of course, the right to marry also brings the right to divorce. Research shows that the LGBT community has approximately the same divorce rate as the heterosexual population, so there will be a need for family law attorneys who understand the unique issues that sometimes arise in same-sex divorces.

Divorce can be overwhelming, making it easy to lose sight of important issues. One issue you should not forget about is the beneficiary designations on your life insurance policies, retirement plans, bank accounts, annuities and other instruments.

Whether you are contemplating divorce, initiated the divorce proceedings or finalized them, it is crucial to be mindful of your beneficiary designations, as well as those of your spouse or ex-spouse.

While all divorces are emotionally draining, Arizona households with high net worth have unique issues that must be addressed carefully. If your attorney does not give these issues proper consideration, your divorce may squander the financial resources of one or both parties.

If you or your spouse is a high-income earner or owns valuable assets, ensure that your lawyer carefully focuses on these aspects of your divorce.

In collaborative divorce, each spouse and his or her attorney are trying to pull together to reach amicable agreements. This can be especially helpful when one of the spouses is a businessperson or financial expert and the other has little experience or knowledge in those areas. As we discussed in difference #3, outside specialists can also help level the playing field.

In mediation, if there is a sizable imbalance of power it is not quite as easy to fix. The mediator will do his or her best to help the parties negotiate.

As a law firm that provides both mediation and collaborative divorce, we are frequently asked what the differences are. The two methods are similar in many aspects, as both aims to resolve divorce issues without litigation.

We have outlined some of the differences between mediation and collaborative divorce below. Of course, we are happy to help you better understand how each may apply to your unique situation when you partner with us.

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