Going through a divorce isn't easy. According to LegalJobs, the number of divorces fell by 12% during the peak of the COVID-19 pandemic. As the world opens up, the divorce rate may once again return to normal. When it happens, it's important to have the legal help of the right law firm that can navigate the process. A divorce involves couples, children, pets, financial assets, and more. In this case, a family law firm can provide the professional guidance needed to settle assets during this time.

They Specialize in Family Matters

A family law firm specializes in divorce, meaning they possess the expertise and understanding of state laws that govern divorce proceedings, allowing them to help their clients reach a fair agreement. This ensures that both parties get what is owed to them, which can help make the process go smoother. A family law firm has the resources and personnel to handle a variety of divorce-related cases.

They Provide Expert Advice

A family law firm can provide expert advice for clients looking to settle assets during a divorce. These firms employ experienced attorneys who can inform on the best options for settling assets. The attorneys will explain the process and provide insight into how to reach an agreement that's fair for both parties. These experts will also ensure that the process is carried out as smoothly and quickly as possible.

They Help Divide Marital Property

One of the most important assets to consider during a divorce is real estate. The property includes the main residence, vacation homes, and rentals used for income. A family law firm can help divide marital property by providing advice on how to divide these assets fairly and equitably. A lawyer can help couples decide if selling these assets is best or if one party should buy out the other. They can also help in negotiating a settlement that's best for both parties.

They Help Negotiate Child Support

Child support, when necessary, needs to be negotiated in a divorce. A family attorney can help negotiate the amount of child support and ensure that both parties agree to the terms. The lawyer will look at the assets and income of the couple to determine what is fair. These attorneys will also provide guidance on how tax credits and deductions may affect the amount.

They Assist With Alimony Negotiation

Alimony is a payment typically made to the lower-earning spouse during and after a divorce. A family law firm will help negotiate the terms of alimony and ensure that both parties agree to the amount. They will look at factors such as the length of the marriage, age, income, and assets to determine what is fair.

They Review Investments, Debts, and Other Assets

A couple's investments and outstanding debts can be tricky to handle in a divorce. Some investments are in constant flux, such as stocks and bonds, while others may be more stable, like real estate. The type of investment couples have will be under review during negotiations. The legal team must also take debts into consideration to ensure that each party agrees on how to dissolve them. A family lawyer can help negotiate these items.

They Help Divide Retirement Accounts Fairly

Retirement accounts are another important asset to consider during a divorce. These include 401Ks, IRAs, pensions, and more. A family law pro can help divide these accounts fairly between both parties such that each will get their due share. The lawyers can help clients decide how to split these assets without incurring hefty taxes or losses.

They Assist With Division of Personal Assets

Dividing personal assets such as jewelry, cars, and other items can be challenging during a divorce. Usually, spouses are allowed to keep their personal belongings. However, if there is an item of significant value that both parties used equally or want to keep, a family law firm can help negotiate and reach a fair conclusion.

Divorce can be a difficult and stressful process. However, family attorneys who are experienced and trained to handle different aspects of divorce asset division can help ease this burden. If you're in need of professional assistance with divorce or another family law matter, contact Jolein A Harro PC today to learn how our Colorado family law firm can help you.