Avoiding a Damaging Divorce
Divorce is often considered one of the biggest destroyers of wealth. Although divorce has become increasingly prevalent in today’s society, a divorcee’s finances are seldom discussed by personal financial advisors. Approximately half of all marriages end in divorce; however, divorce is often still considered a taboo subject.
Most believe that decades of hard work, saving and investing can easily be completely wiped out, in the blink of an eye, during a bad divorce. It is often thought that divorce leaves divorcees in financial ruins. Furthermore, since divorce is not commonly discussed, many divorcees feel alone and without any guidance.
It is crucial not to let any divorce horror stories frighten you into accepting an unfair divorce settlement. An experienced Orlando divorce attorney can assist you with any financial issues and obtain the best possible divorce settlement.
Advice Prior to Your Marriage
It is very important to find a spouse that shares the same financial expectations. If you tend to save your money, while your future spouse enjoys spending money, this is likely to cause conflict. You should be on the same financial page as your spouse.
Experienced attorneys typically suggest at least considering a prenuptial agreement, especially in situations where one partner has a majority of the assets prior to the marriage. Prenuptial agreements are also favorable in marriages where children from prior relationships are involved.
Financial counseling prior to marriage can assist both parties in addressing all of their financial concerns. Additionally, it allows couples to decide the best way to combine their finances.
Since you and your spouse are the ones spending everyday together, it is crucial not to cave into cultural expectations or familial pressures. If you try too hard to appease others, you will most likely be unhappy. It is vital to consider what is most important to you and your partner without worrying about others.
Situations to Avoid in Divorces
While most people are worried about losing everything in a divorce, under Florida law, property is divided based on an equitable distribution of assets. Thus, the judge will work hard to decide what he or she believes is fair under your unique set of circumstances. Although most judges are thoughtful and calculated in reaching their decisions, having an experienced attorney on your side will be extremely beneficial.
Any property acquired during the course of the marriage will be considered marital property and divided fairly. It is important not to think that just because an account only has your name on it that you can keep it all.
Be transparent about all of your assets, because willfully failing to disclose any assets can greatly complicate your divorce proceedings. The last thing you want to do is lose credibility with the judge. Further, if your ex-spouse discovers that you intentionally failed to disclose any assets, he or she will be able to take you back to court. There is no statute of limitations related to misrepresenting your financial affidavit.
Talk to an Experienced Divorce Lawyer
The importance of skilled legal representation should not be underestimated. An experienced Orlando divorce attorney can help you make your divorce as easy and uncomplicated as possible. Specific steps have to be followed to make sure that there is an equitable division of every asset and that you escape any unforeseen tax consequences.
The experienced Orlando contested divorce attorneys at the Law Offices of Steve W. Marsee will assure that you get your life back on track as soon as possible. You can count on our qualified team to inform and guide you. Contact us online or call today at 407-521-7171 to discuss your divorce in detail.