Many Floridians who are considering divorce find themselves concerned about their future financial well-being. There's good cause for concern, too. A divorce can lead to decreased income, increased expenses, and significantly reduced savings. Therefore, those who are thinking about marriage dissolution should understand how to financially protect themselves for their life after their marriage ends.
Using a prenuptial agreement to protect your business
Getting divorced is rarely easy, but it can be simplified when the parties have entered into a prenuptial agreement or a postnuptial agreement. These legally binding documents can specify not only the financial responsibilities of each party during the course of marriage, but also how property will be addressed in the event of divorce. It can also dictate how other divorce legal issues like alimony will play out. Given the impact marriage dissolution can have on one's financial stability, these considerations are of paramount importance.
A prenup may be twice as important for a second marriage
You may not have signed a prenuptial agreement before your first marriage. While this may be risky for many people, it may have worked out alright for you.
Competent attorney can advocate during property division process
Last week's post on the blog discussed the financial ramifications of a gray divorce. The truth of the matter, though, is that divorce can rock your finances regardless of your age, gender, length of marriage, or economic standing. The way that you handle the property division process can make all the difference, determining whether or not you have a firm financial foundation for life post-divorce.
