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Without careful planning, divorce can come at a steep cost

by | Sep 16, 2019 | Property Division

When a Florida couple decides to move forward with ending their marriage, they understand there are significant financial implications that come with this decision. There are always financial adjustments that have to be made after this process, even when couples are amicable and willing to come to an out-of-court agreement. Without careful planning and consideration for the future, a divorce can come at a steep cost to some.

One woman who is a financial analyst specializing in divorce says that her divorce dealt her a severe financial blow. She estimates that her divorce cost her around $1 million in retirement savings, partly because of a lack of planning on her part. Her situation serves as a reminder of why it is important to think about the future even before getting married.

After marrying, she and her husband moved into a home that she already owned. She assumed that state laws would protect her property interests in a divorce, but she lost a significant amount of money to her ex-husband. She states that having a premarital agreement would have served her well. When the divorce came and they went to court, the ultimate ruling was that the house would be sold and the couple would share the proceeds, even though the house was hers before marriage.

This situation serves as a reminder of the benefits of being cautious and prudent when getting married, as well as why it’s smart to be careful and cautious during divorce. The choices made during this time will have a significant impact for years to come. There is a lot at stake, even when there are not millions on the line, which is my many Florida readers will find it beneficial to speak with a legal advocate before making any important family law decisions.

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