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.
Divorce is rarely easy. In fact, it can have a tremendous impact on an individual's physical, emotional, and financial well-being. This may be especially true for those who are over the age of 50 and going through what has been termed "a gray divorce." According to some reports, these individuals suffer increased rates of depression and high blood pressure. But there finances typically take a hit, too.
Child custody is one of the most highly contested divorce legal issues. It is not limited to those who are dissolving their marriages, as parents of children born out of wedlock can also face child custody disputes. Oftentimes in these situations each parent believes they know what is best for their child, but their visions don't always align. When this occurs, the matter can be challenging to negotiate and may be left in the hands of a judge.
The divorce process can be one that is filled with tension and animosity. In many cases, Floridians simply cannot come together to effectively resolve many divorce legal issues, including property division, child custody, and spousal support. A lot of the conflict found throughout marriage dissolution can be attributed to a loss of trust between the parties involved, but not all couples want to go head-to-head over every single legal issue they are forced to confront.
Floridians who find their marriages deteriorating often turn to divorce to bring their relationships to an end and to secure a fresh start. This process often involves blame, with each party accusing the other of causing marital strife. Before proceeding with marriage dissolution though, individuals need to fully understand the requirements that must be met before a court will grant a dissolution petition.
The divorce process is important for a number of reasons. Perhaps chief amongst them is the fact that the outcome of many divorce legal issues can rewrite one's financial standing. Poorly negotiated and litigated marriage dissolutions can leave individuals facing financial hardship post-divorce and, by that time, it is often too late to remedy the situation. This is why matters like property division, child support, and alimony must be aggressively dealt with when necessary. This week we'll take a quick look at the different types of alimony that can be awarded in Florida.