Law Office of Dennis R. Wallace, P.A.

Free No Obligation Consultations

Local 941-621-2996

Toll Free 800-753-6252

Menu

dedicated to counseling clients with professionalism and experience

Practice Areas

How can Florida residents afford a divorce?

The end of a marriage brings about a multitude of changes in the lives of all involved. This is nowhere more apparent than in matters of money. The financial landscape of both spouses will change following a Florida divorce. For many in the state, even coming up with the money to process the end of the marriage can be a challenge.

In order to receive the best possible settlement, spouses need to retain the services of a professional divorce attorney. That requires funding, which can be a challenge for some. In many cases, one spouse has fulfilled the role of breadwinner while the other assumed responsibility for raising children and caring for the home. When the marriage encounters trouble, the spouse who brings in most of the money sometimes feels justified in cutting off the other party's access to those funds. That can make it difficult to hire an attorney and begin the process of divorce, leaving many spouses feeling stuck.

Some entrepreneurs have found a way to address this issue, and offer to finance a client's divorce. In some cases, the funding party will earn a percentage of the assets obtained during the divorce. Others charge interest, similar to that earned on any other type of investment. In addition to paying for legal services, those funds can be used to hire professionals, such as forensic accountants or family evaluators.

Divorce funding may not be a necessity for every Florida family, but it is important for spouses to know that this type of lending is available in some circumstances. One of the pressing truths about any divorce is the fact that it is impossible to predict how one's spouse will react to news of the end of the marriage. If he or she decides to take steps to limit the other party's access to marital funds, divorce lending could provide the means to move forward and achieve a fair settlement.  

Source: Fortune, "These 3 People Will Fund Your Divorce", Daniel Bukszpan, April 23, 2016

No Comments

Leave a comment
Comment Information