When getting divorced in Florida, there are some obvious things to avoid. A few of these include purchasing new assets together or taking out more shared debt. Maintaining a physical relationship may also lead to complications. But, what about the less obvious things?
According to Business Insider, the first is talking to financial advisers that do not make sense to you. Whether you are the breadwinner, the homemaker or neither, you want to ensure that whoever you work with can provide advice you understand and agree with. It should also be applicable to your specific financial goals.
Another definite no is relying on electronic copies of documents that require log-ins your partner has access to. One good example of this is credit card and bank statements for shared accounts. Always ensure you have your own printed copy or individual access. Otherwise, if you and your spouse have a serious falling out during the divorce, they might change the passwords and lock you out of the accounts.
Business Insider also cautions divorcing couples against trying to get sneaky with money. Some people may make gifts in the form of thousands of dollars to friends that they then reclaim after the divorce. Others squander away the marital assets to reduce what must be shared. This may not sit well in court.
Finally, it is important to adjust financially. Many homemakers fail to do this and land themselves in debt very quickly. No matter how much money the breadwinner decides to provide as spousal support, it will be a fraction of what you enjoyed while married and sharing assets.
Breadwinners may also believe they can carry on as before. In attempting to do so, they fail to realize the true financial cost of losing the assistance of a homemaker or the added income from a lower-paid spouse. They may also not factor in the cost of maintaining two separate households in the form of their personal expenses versus child and spousal support.
This article provides information on divorce. It should not be used in place of legal advice.