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Avoid unexpected expenses during property division planning

When preparing for divorce, Florida spouses should make every effort to become fully informed on the process and all associated expenses. That is especially true when it comes to making property division decisions. Unless an individual has a clear idea of how his or her financial landscape will look after a divorce, it is impossible to make wise property division decisions.

One of the most obvious, yet often overlooked financial matters associated with divorce involves alimony and child support. The spouse who is expected to receive support payments should create a post-divorce budget that is in line with their projected income. The spouse who will be tasked with making those payments should plan their own future financial obligations accordingly.

Another expense related to property division involves the costs associated securing new housing. In many cases, both spouses move out of the family home and into new settings. Funding the purchase of new furniture, household items and other startup costs is an important and necessary expense. For spouses who stay in the home, there may be increased costs associated with having to pay a professional to handle tasks that one's partner used to take care of.

These are just some of the issues that divorcing spouses in Florida may face. Securing new insurance, increased child care expenses and the cost of short-term counseling are a few other financial burdens that can follow a divorce. Understanding the full range of these expenses can make it far easier to negotiate a property division settlement that is in line with one's future needs and projected goals.

Source: cheatsheet.com, "Getting a Divorce? Avoid Getting Blindsided by These Unexpected Costs", Sam Becker, July 23, 2017

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