The United States has the third highest divorce rate in the world, and those who have gone through this process would agree that it is not easy. It seems to affect men and women in different ways. Florida residents may be interested in learning about the top concerns women have after divorce and how they deal with them.
A divorce can mean that Florida estranged couples may have a number of complex investments to divide. Since this can incur penalties and taxes if not done correctly, people in this situation may want to work with legal and financial professionals throughout this process. People who have not been very involved in their marital finances need to make sure they know what assets they have and how to get to them.
Every marriage in Florida involves two people who both need to make efforts to sustain the relationship and control negative personality impulses. Bad habits or personality traits if left unrecognized or uncontrolled could eventually motivate people to file for divorce.
Child support orders in Florida are typically based on the income of the non-custodial parent. However, many people experience serious changes to their financial situation after a child support order is already in place. Some believe that people fall behind on child support because they don't care about their kids, but many actually struggle to make ends meet and cannot afford the monthly payments. When people lose their jobs, become disabled or move out of state, they may face difficulties keeping up with their mandated support payments. As a result, they may face wage garnishment or even a threat of jail.
Florida spouses who are going through a divorce should think about the financial impact of separating. While ending a marriage may be necessary, it's important to go over one's current financial situation before starting the process. This is because it may be necessary to divide debt as well as positive assets such as a house or retirement account. Therefore, being proactive could make it easier to structure a settlement that's in a person's best interest.
Many Florida residents have social media accounts and frequently interact with online friends. However, an internet acquaintance is not necessarily the same thing as a personal friend. Divorce is difficult enough without getting social media involved. That's why couples headed toward divorce should take precautions when posting on social media, especially if they have young children.
Whether they grow up in Florida or any other state, children can experience both short and long-term trauma after their parents get divorced. However, parents can take steps to help their kids adjust to their new circumstances in a positive and healthy manner. For instance, parents can make time to listen to what their children have to say and validate their feelings. This is important whether those feelings are positive or negative.
Millennials are more likely to keep their finances separate and to have prenuptial agreements than previous generations, but experts say the latter is more likely than the former to protect their property in a divorce. In an equitable distribution state like Florida, what people have earned separately may still be considered their own property. However, a court still has some discretion in what it determines is shared property and how that property will be divided. There are advantages in a divorce to having individual accounts. It can allow each person to have ready access to money for use during the process.
Many people in Florida are dealing with extensive student loan debt. In some cases, people decide to delay marriage, children or major purchases because they are struggling to pay off loans that can amount to hundreds of thousands of dollars. With the costs of college rising, many people have few options but to take out student loans to pursue education for their future careers. At the same time, divorce is a major financial event. The effects of the end of a marriage on a person's finances can last for years beyond the relationship. Couples dealing with student loan debt burdens may be concerned with how their loans are handled during the property division process.
Florida business owners may have particular concerns to prioritize when they think about divorce. People who own small, closely held businesses may discover that their companies constitute the bulk of marital assets. They may be uncertain of how they can keep the business intact after the end of their marriage. After all, the financial effects of a divorce can linger long after the emotional and practical issues have been handled.