Florida couples who are undergoing divorce often make mistakes when dividing their retirement assets. These mistakes can be both costly and time-consuming. By understanding what these mistakes are, you could avoid making them. Early withdrawal penalties When you're...
divorce
What you should know about your pension in a divorce
Divorce can take a significant toll on your emotions and finances. Property division can be challenging if you have a pending pension plan. Usually, a pension is considered a joint asset, which means the value of the pension must be divided in a divorce. If you're a...
What are hidden assets?
Do you trust your estranged spouse to be honest during your divorce? Many divorcees try to hide assets so they don't have to share them with their former spouses. If you don't discover their assets until you finalize your divorce, it might be too late to take action....
Things to know about undergoing a divorce as a business owner
Owning your own business in Florida can complicate your personal financial situation in the event of a divorce. It's always a good idea to consider prenuptial or postnuptial agreements to protect your business in the event that a divorce happens. If you're not quite...
Things to consider when deciding what to do with your home during a divorce
One of the most common challenges that come with filing for divorce in Florida is deciding what to do with the home you share with your spouse. Many people have emotional ties to the property or aren't sure where they can afford to live if they move out. There are a...
Financial mistakes to avoid in Sarasota, FL divorces
Making the difficult decision to file for divorce has far a far-reaching impact on every aspect of your life. Not only are there mental and emotional effects, but your Sarasota, Florida divorce can also wreak havoc on your finances. Knowing some common mistakes to...
Be proactive about discovering assets to get a fair settlement
The road to a fair divorce settlement, as many Florida residents will discover, starts much earlier than the divorce process. Ensuring that all assets are considered during the division of property means being proactive about asset discovery. Start early Start...
How to budget after a divorce in Florida
Getting a divorce has an impact on every aspect of your life, perhaps none as significantly as your finances. Knowing how to put yourself in a position to prosper financially after a divorce is one of the most important steps you can take. Florida residents who have...
How do you divide a 401(k) in a divorce?
If you're thinking about getting married in Florida, you may want to sign a prenup first. If you don't, most of your assets will be up for grabs if you get divorced. This includes your 401(k), even if it only has your name on it, and you've been saving up for decades....
Paying for a child’s education after a divorce
A divorce may allow you to end a relationship with your spouse. However, it doesn't absolve you from paying for a portion of your child's educational expenses. For instance, you may be required to cover the cost of private high school tuition or the cost of attending...