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Financial Decisions To Make During Your Ft. Lauderdale Divorce (Part 2)

In the last blog, I spoke about several financial decisions that you should discuss and make with your Ft. Lauderdale divorce attorney. During your divorce, you will need to make decisions with huge financial implications. Many of these decisions you are probably not use to making. As you become concerned with child support and alimony, it become easy to lose sight of long-term financial concerns that you face during your Broward divorce case.

When a couple decides to divorce, one of the parties often desires to retain the marital residence in order to provide continuity for the minor children. However, you should sell you home if retaining it would make you house rich and cash poor. It is important to discuss with your Fort Lauderdale divorce attorney the cost of staying in your home and whether or not the alimony and child support you receive coupled with your income will make this feasible.

Your marital and family law attorney can not and should not give you tax advise. It is important that you consult an accountant to learn about the tax consequences related to alimony, retirement accounts, deferred compensation and future tax deductions related to your children.

If you have not worked during the course of the marriage, you may be interested in getting a job in Fort Lauderdale, Pembroke Pines, Cooper City or Miramar after your divorce. If you require retraining or a new degree, your Florida marital and family lawyer should consider this in determining your monthly alimony or whether rehabilitative alimony should be awarded.

As part of your time-sharing schedule and parenting plan, your Miami divorce lawyer should include who will buy clothing, computers and other items for the other parent’s residence. Other expenses for your children to consider include prom, cheerleading, sports gear, cars, car insurance, allowance, college visits, college expenses and cellular telephones.

Last but not least, do not forget that your spouse can always hire a divorce lawyer in Broward or Miami-Dade to modify child support, alimony or child custody matters such as shared parental responsibility, the time-sharing schedule or the parenting plan after the entry of the Final Judgment of Dissolution of Marriage. It is important to budget for future legal expenses.

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