Not all marriages last as long as the couple may have hoped for and when they make the decision to divorce, the mortgage on their house remains a silent partner in the proceedings. In effect, one is not just divorcing a spouse — one must also divorce the mortgage.

The housing market today is slow and with even tighter lending requirements, divorcing couples face an uphill battle to get divorced. Before the housing bubble burst, it was relatively simple to divorce, sell the marital home, split the proceeds (equity) and each buy another home. With the market the way it is now, this rarely happens. The home, once an asset, has turned into a liability — one that is increasingly difficult to discharge.

From the point of view of the bank financing the mortgage for a home, a couple will stay married and keep paying the monthly debt unless the home is sold or refinanced. However, when things happens and a couple can no longer stay together, they need to consider other options, and check them out with a great deal of care.  This means attempting to put aside all the emotions involved in a divorce in order to make logical and informed decisions, often with the assistance of an experienced Brandon divorce lawyer.

The main goal is to keep an eye on the long-term results, and move past the short-term pain of the divorce and losing the house. If a couple cannot move past the immediate issues and focus on the future, things are likely to be bleaker for them as they try to deal with financial issues. The main focus needs to be selling the house, as it still remains the easiest way to put a joint debt, like a mortgage, behind you.

Although selling the home may be the best solution, it is not always what happens, because the market is so unpredictable. At this point, the couple needs to look at their situation from a different point of view, by considering other ideas. For instance, could one of them refinance the home? Does one spouse have sufficient credit and income to remain in the home and continue with the payments? Is there another arrangement a spouse could make with a roommate to share the mortgage payment?

Nothing should be off the table when it comes to determining a way to settle the mortgage issue. Just because the house might not sell right now does not mean it will not sell later, when the economy begins to recover to a point where the housing market starts to pick up once again. Considering all options will make the divorce process easier to navigate. Getting stuck on what to do with the house should not be regarded as a stumbling block, but rather a chance to be creative in solving the problem. If you’re hung up on how to deal with the mortgage, ask your Brandon divorce lawyer for advice.

Joshua Law is a Tampa divorce lawyer and Brandon family law attorney with the Osenton Law Offices, P.A. To learn more, visit http://www.brandonlawoffice.com/

The United States already leads the world in divorce rates, with approximately 50 percent of marriages ending in divorce. Now baby boomers are divorcing at a much greater rate, accounting for one out of every four divorces in 2009, the last year for which data is available. That represents a 15 percent increase since 1990. Florida is particularly affected by the increase, as many people retire to the state.

Researchers have found that people who have already been divorced once are 2.5 times more likely to be divorced again than people in first-time marriages.

The reasons for the increase in divorce among older couples are not entirely clear, but researchers have speculated that they include greater social acceptance of divorce and greater financial independence among women.

Any divorce is difficult, but seniors have particular life circumstances that affect them differently than younger couples. For one thing, older people are often planning carefully for retirement and expecting to rely on two sets of assets and income. This type of planning often involves a balance of retirees’ own assets, including a 401(k), combined with Social Security benefits and health care savings from Medicare. When those resources are split instead of combined, and either or both spouses has reached the end of a working career, serious financial hardship can result.

Divorce can be one of the most trying emotional experiences, and it is important to be sure that both parties take a clear-headed approach to financial planning, including creating a budget that takes into account reduced funds. Of course, each party should have the counsel of an experienced family law attorney to be sure that assets are divided fairly.

When people have been married for a longer period, there are often more assets to divide in a divorce. This may include savings, real estate, stocks and other investments.

In the state of Florida, property in a divorce is assigned according to “equitable distribution,” which calls for assets to be divided proportionally. A divorce settlement can include alimony, which may be more appropriate in some cases than a lump sum payment.

In addition to the financial aspects, a qualified family law attorney can assist in the preparation and review of new legal documents such as wills, insurance policies and healthcare directives.

O. Reginald (“Reggie”) Osenton is the Owner and President of Osenton Law Offices, P.A. If you need a Brandon divorce lawyer, Tampa divorce lawyer, or Tampa divorce attorney, call 813.654.5777 or visit Brandonlawoffice.com.

Once an agreement has been reached and a time-sharing plan is in place, there are important reasons to stick to the plan and do so with thick skin.

• The kids. First and foremost, the children have to be the priority in the process. If they are in their diapers or in their teens, the children are the first priority of the court and it is in each parent’s interest to keep what is best for the children in mind. If the answer to all questions starts with asking ‘what is going to be best for the children?’ then the questions will be easier to answer.

• Money. Disagreeing about a co-parenting agreement can lead to a return to court. Refusing to comply with an agreed-upon time-sharing arrangement will lead to expensive litigation while the other parent tries to get everyone to live up to their end of the deal. Many parents say they wish they had avoided going back to court by simply getting along better during the process.

• Stability. By sticking to the parenting plan directed by the court in the divorce proceedings, each of the time-sharing parents can secure stability not only for the children but also for themselves. Late pick up times, missed phone calls and miscommunication about test scores or doctor’s visits all can create tension and frustration for the parents and for the children. Stability is good for the children and it is good for each parent.

Because sticking with a parenting plan is good for the kids, good for the checkbook and good for everyone’s sanity, it is important to be a great co-parent.

Being a great co-parent can often be a function of looking at this new arrangement like a business partnership. Most successful business partners can put their personal differences aside to do what is best for the company. Many former spouses with shared parenting responsibilities have had success looking at their arrangement this same way – like a business.

Looking past personal differences often means finding a way to not feel hurt when the other parent says something nasty or does something out of character. It means having thick skin. Removing personal animosity toward the former spouse and concentrating on the business at hand – raising the child – can help make everyone’s experience less stressful.

Joshua Law is a family law attorney at Osenton Law Offices, P.A. If you need a Brandon family lawyer, Tampa family lawyer, or Tampa divorce attorney, call 813.654.5777 or visit http://www.brandonlawoffice.com/

If you find yourself getting emotional or stuck, it helps to get the support of your family and friends to keep you from being stalled. Read every part of the petition thoroughly and be sure to fully understand what it all means. Remember that the next chapter will be all about focusing on yourself and your kids, so do what it takes to muster the courage to face the reality of what is happening and not close yourself off to your kids and their needs.

Ignoring the petition will only leave you with more heartbreak and stress. It can create a default divorce, where you could also end up having your wages garnished for child or spousal support. And chances are high that you will not receive a notice of the final hearing date either if you do not respond.

The best advice after finding the right divorce attorney to represent you is to get your finances organized and game plan together. Get the records of assets, property deeds, and any mutual businesses so that you are aware of what your share is. It is also smart to review all credit cards and bank accounts that are in both names. In the event that your spouse is prone to go on a spending spree, you will want to remove their name from key accounts or cards. Dedicating some time to analyze your true monthly bills is also helpful. Many divorces lead to an individual needing to cut spending habits and building a fund worth of six month’s reserves for any future, unexpected events that might come up.

As hard as receiving a divorce petition is, you owe it to yourself to find a skilled divorce attorney to help you through all the steps. An attorney can assist you with effective legal advice to set the foundation for a better stage of your life. In Florida, Brandon family law attorney Joshua Law counsels individuals to achieve their divorce goals. As part of Osenton Law Offices, the firm stands by its commitment to high-quality client service and the latest in technology to help secure the best outcome in every divorce case. To learn more, call 813.654.5777 or visit http://www.brandonlawoffice.com/

O. Reginald (“Reggie”) Osenton is the Owner and President of Osenton Law Offices, P.A. If you need a Brandon family law attorney, Tampa family law attorney, or Brandon divorce attorney, call 813.654.5777 or visit Brandonlawoffice.com.