Who Loses More Financially in a Florida Divorce?

Divorce is such a difficult experience because it is associated with loss. It is true that, regardless of sex or gender, both parties will feel the impact of divorce on their emotional well-being, their social life, and their finances. But who suffers the greatest burden during and after a divorce in Florida? One of our Florida divorce attorneys explains in greater detail below.

Women Typically See a Bigger Loss of Household Income

During divorce, one household typically expands into two and this can cause both spouses to feel the financial strain. This strain is not shared equally, however. Women, especially those with children, typically see a sharper decline in their household income post-divorce. This is often because women have put their careers on pause to raise the children. After divorce, women are still also more likely to rely on child or spousal support.

When women are awarded primary custody, it also limits their flexibility with work schedules. According to the U.S. Census Bureau, women are significantly more likely to experience poverty after divorce than their male counterparts.

Men Often Incur More Long-Term Obligations

Although men do typically earn more income after divorce, they are also more likely to incur other losses. These often include alimony or child support payments, loss of the family home or other marital property, and reduced time spent with their children. These financial strains can continue for years, impacting a man’s lifestyle and retirement planning.

How to Minimize Financial Loss During Divorce

Although it may not be possible to avoid financial losses entirely, there are steps you can take to minimize the losses you sustain during divorce. They are as follows:

• Work with an attorney: As soon as you decide to file, or learn that your spouse already has, it is critical to contact a Florida divorce lawyer. A lawyer can help you avoid costly mistakes, such as going to court when unnecessary, ensure fair asset division, and negotiate a fair settlement.
• Consider mediation: An uncontested divorce is the most cost-effective way to end your marriage but if you and your spouse cannot agree to all terms, there are other options available. Mediation is much more affordable, and less time-consuming, than going to trial to resolve the terms of your case.
• Create a realistic budget: It is not easy for anyone to go from living off of two incomes to one. Creating a realistic budget will allow you to determine how much income you will have post-divorce and what you can reasonably afford to spend on daily and monthly expenses.

Call Our Divorce Lawyers in Florida

Divorce is emotionally and financially difficult for both men and women, although the two do suffer different types of monetary losses. At All Family Law Group, P.A., our Florida divorce lawyers can provide the legal guidance you need to make the path forward more manageable and help you move forward with confidence. Call us today at 813-672-1900 or fill out our online form to schedule a free consultation and to get the sound advice you need. Se Habla Espanol.

Source:

leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0000-0099/0061/0061.html