Retirement savings are a critical asset to many people in Florida, including those going through the end of a marriage. Divorce can carry with it an array of strains, including the visible emotional and psychological stresses caused by a split. However, another important element in a divorce is the financial aspect and the division of property between the spouses. There are many types of marital property that can be subject to distribution in a divorce, from retirement savings accounts to investments or real estate.
Florida residents or others who get divorced in their 40s or 50s may face unique financial challenges. For instance, living on one income late in life may require an individual to rethink their retirement plan. It may also be necessary for those who may not have experience in the workforce or managing their own money to forge their own financial future.
Florida parents might be considering putting off their divorce because they are concerned about how it might affect their child's emotional state or even the likelihood that their child will attend college. Studies show that a child of divorced parents may also be more likely to get a divorce. However, there may be some cases in which getting a divorce is the right decision.
Many Floridians end up divorcing before they have reached age 40. Some individuals even divorce in their 20s. States with the highest divorce rates among individuals younger than 30 are primarily located in the Deep South.
Some of the most common reasons for divorce are money problems, infidelity, addictions, incompatibility and "irreconcilable differences". Florida is a no-fault state, meaning that people seeking a divorce do not have to allege a particular reason why they are doing so, only that they no longer wish to be married.
It isn't always easy to keep a marriage together, and a number of studies have found links to factors that may make divorce more likely. Florida couples might want to be aware of these risk factors, as knowledge may lead to a better understanding of the situation. People are more likely to get divorced if their parents were divorced, for example, or if they got married young.
People in Florida experiencing tension in their relationships often work out their problems, but some issues demand that a partner leave someone. Alcohol or drug addiction represents one issue that frequently drives away even devoted spouses. Emotional abuse and outright physical abuse, especially when aimed at children, is another scenario when someone needs to leave the relationship.
The divorce rate among those 50 and older is increasing while it is going down for all other age groups across the country. While older Florida residents may not have the fate of any children to worry about in a divorce settlement, they may be battling for their financial futures.
Couples get divorced throughout the year but attorneys tend to be busier during the fall, when children are back in school and family vacations are over. Although they might be anxious to get the process completed after waiting months to file, there are a few things Florida spouses should pay attention to so they can avoid negotiating a poor property settlement.
When two Florida parents decide to get a divorce but continue to share parenting duties, there may be problems when the parents attempt to establish separate house rules. For children who are already going through a major transition, trying to learn two different sets of house rules can be overwhelming.