If you are considering divorce, you are probably concerned with how the split will affect you financially. You will no longer have your husband's wages to pay the bills or other living expenses. Furthermore, since you have not worked for many years so that you could focus on managing the household and raising the children, you may have difficulties finding a job that pays enough for you to support yourself. In addition, you might experience a drastic change in the lifestyle you are accustomed to living.
While a fair settlement will give you access to a substantial amount of assets, most of them are not liquid. This means that it will either take a significant amount of time to sell off the property or convert it to cash. In addition, converting some assets, such as retirement accounts, to cash come with heavy penalties and tax liabilities that you will have to pay, further reducing the amount of money you will have available to support yourself. On the bright side, you might be able to receive alimony, or spousal support, from your soon-to-be ex-husband. Read below to find out more about alimony laws in Florida.
If you or your spouse are working toward a settlement without letting a judge decide on your behalf, you may also be able to work out a sufficient alimony agreement. In order to make the alimony payments a legal part of your divorce, you will have to present the agreement to a judge so that it becomes an official part of the divorce decree. If you do not receive a court order for alimony as part of the divorce, you may have a very hard time enforcing the agreement.
Factors the court considers
If you and your husband cannot agree on spousal support terms, you can petition the court to include alimony payments as part of the decree. The judge will then look at your specific circumstances and make a decision. Some of the factors that the court will consider include your standard of living during the marriage, the length of your marriage, your age and physical condition, and even your mental and emotional state. In addition, the court will look at your individual financial resources, your respective earning potential, and how long you need to become self-sufficient.
Starting over after divorce can be difficult. This is especially true if you do not have the financial resources and support you need to reasonably take care of yourself. Your attorney will be able to help you fight a for fair settlement so that you do not suffer a financial hardship due to divorce.