Divorce leads to changes for virtually every member of the family, and both parties are likely to experience a significant shift in their financial resources. The property division process is high-stakes, as the terms of the final court order will determine a person's financial future for years to come. For Florida stay-at-home moms who do not earn an income, there is a lot on the line during a divorce.
With divorce such a common way of life, many people have chosen not to marry. According to the United States Census Bureau, marital rates are decreasing among young adults, whereas cohabitation rates are increasing. Reasons are numerous, from changes in social expectations to the desire for a clean break when a relationship ends.
When a Florida couple decides to end their marriage, there are significant financial decisions they must make or have a court decide for them. The choices made during divorce will have an impact for years to come, and it is prudent for a person to consider how to pursue a strong financial future during this process. There are certain tax strategies that may make it easier to resolve divorce disputes and reach a reasonable settlement.
Making the choice to end a Florida marriage is not easy. This decision likely comes after careful thought and consideration, and no matter how amicable the two parties may be, divorce is never easy. Before moving forward with divorce, it makes sense to take the time to prepare for what is ahead. Preparation can help a person avoid having unreasonable expectations regarding divorce and avoid unnecessary legal disputes.
There is no way to predict the future, but there are certain steps a person can take to protect his or her interests before walking down the aisle. A Florida couple may find it beneficial to draft a prenuptial agreement in order to reduce the chance of complications in the event of a divorce in the future. Even more than previous generations, many millennials prefer to draft this type of contract before getting married.
The end of a marriage involves many complex decisions, including addressing valuable assets jointly owned by both spouses. This includes the family home, which can be a difficult and emotional issue for many Florida families. Divorce means that a couple will have to decide who stays and who moves out or whether it is most prudent to sell.