Almost everyone who is going through a divorce has likely heard the advice that you should protect your own interests in the divorce settlement. For women who are going through a divorce, there are two ways that they might get hurt in the divorce settlement without even realizing it. Florida women who are facing the dissolution of their marriage should keep these in mind.
When women go through the property division stage of divorce, they need to pay close attention to investments. The splitting up of investments, especially in a high-asset divorce, may require the help of a financial planner, CPA, or wealth manager to ensure that the investments aren’t split in a way that hurts the woman. There are some cases that the “raw numbers” for these investments can vary from the actual worth, which can cause a lot of difficulties.
Another way that the woman might get hurt when it comes to property division is with the marital home. Many women choose to keep the family home in an effort to keep things somewhat normal for the children and for herself. When considering the house in property division, the upkeep costs of the home should be considered. This includes mortgage payments, insurance, regular maintenance, and property taxes.
Understanding how property division in Florida works can help women to better protect their interests during the divorce. Seeking answers to questions about the process and the actual worth and burden of property and investments can help to ensure that you have the best financial foundation after your divorce is final.
Source: The Wall Street Journal, “Two Ways Women Often Get Hurt in a Divorce” Manisha Thakor, Apr. 15, 2014
