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property division Archives

Fair property division and its impact on retirement security

Divorce changes many things about a person's life, including his or her financial stability. The impact of a property division order can be felt for years to come, which is why it is important for a person nearing retirement to seek terms that are fair and reasonable. Divorce near the time of retirement is costly, and a reader will want to look for ways that he or she can secure a strong future.

Without careful planning, divorce can come at a steep cost

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.

Property division and the financial implications of gray divorce

When a Florida couple decides that it is appropriate to end their marriage, there are certain consequences that come with that decision. The financial implications that come with a gray divorce are significant, and an older individual will want to be diligent about protecting his or her long-term interests during the property division process. Gray divorce, which is a divorce between two people age 50 and up, is on the rise.

Income structure affects how property division will work

Divorce is a remarkably complicated process of untangling two financial lives. This process can be emotionally challenging and there is a lot at stake, as the terms of the final property division order will impact a Florida resident for years to come. One important factor to consider during divorce is how the pay structure of each party could affect financial support and other aspects of the final settlement.

The property division process can negatively impact retirement

Divorce requires the division of all assets and property accumulated over the course of the marriage, including long-term savings and retirement accounts. No matter the age of a Florida couple or how much they've been able to save for their golden years, the end of a marriage can be detrimental for retirement. It's especially critical for a person to strive for a fair property division order for both physical assets and financial accounts. 

How the property division process affects retirement savings

When a Florida couple makes the decision to move forward with divorce, it will eventually lead to financial adjustments that will impact various areas of their lives. This includes retirement savings. Money and assets earned acquired over the course of the marriage is likely considered marital property, which means it is subject to equitable division. A person may want to learn more about what the property division process will entail for one’s specific situation.

Never assume ownership in property division proceedings

When a Florida couple files for divorce, they must resolve numerous issues before the judge overseeing the case can issue a final decree. If the couple has children, matters of custody, child support and visitation may be in question. In all divorce cases, property division proceedings take place to determine who gets what and who will be held financially responsible for any debts in existence at the time.

Property division, a family business and making the best choices

A family-owned business is one of the most important and valuable assets that a Florida couple may own. For one or both parties, it may be the primary source of income. When a couple decides to divorce, one of the main concerns is over what will happen to the business. These types of closely held assets can be the most complex aspect of the property division process in divorce proceedings. 

Seeking fair property division in divorce for stay-at-home moms

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. 

How will the property division process affect a small business?

For a Florida business owner, the end of a marriage can be a frightening prospect. There is a lot of uncertainty regarding what will happen to a small business. It can help to understand how equitable distribution of assets works, as well as options for negotiating a property division settlement and the various possibilities regarding business assets.