If you and your wife share your family home, you'll probably want to know what's going to happen to it in your upcoming divorce proceedings. There are several ways to handle the division of a family home -- and depending on your family's circumstances -- your divorce attorney can recommend the most suitable strategy to fit your needs.
If either you or your spouse own a 401(k) account, the assets inside it will likely be divisible during your divorce proceedings. However, this certainly doesn't make it easy to divide a 401(k) between two people. Let's take a look at a few issues you need to keep in mind when dividing a 401(k) during your divorce.
Women and men deal with stress and anxiety in different ways, and divorces are full of those negative emotions. While you are both dealing with the dissolution of your marriage, the stresses of divorce may affect men differently than they do women, particularly those women who have been at home raising children and are suddenly faced with the reality of joining the workforce with no recent experience. You may have to find your own housing and start a career at a later point in your life. Statistically, men remarry before women, so even the emotional effects can be harder on women. Physical illness is also common for women going through divorce.
At Mercedes R. Wechsler, PA, one of our jobs as family law attorneys is to balance client expectations of what is fair with the cold hard reality of the law. The thing is, Florida's laws were created to be "fair," so if you don't think the judge made an appropriate ruling, there's a chance you might be correct.
If you're a baby boomer considering divorce during your golden years, there are some financial concerns you will want to keep in mind. For example, what will happen to you and your spouse's 401(k), IRAs and other retirement savings? Will you be able to enjoy the same quality of life post divorce as you did during your marriage?
After 28 years of marriage, two members of Miami "high society" -- Bob and Jody Dickinson from Miami -- have decided to bring their marriage to a close. News about the couple's breakup hit local newspapers on Valentine's Day. The dissolution of the marriage was finalized by a family court judge on Jan. 18, but the transfer of millions of dollars in divorce settlement money to Jody Dickinson didn't happen until February.