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Protect your finances during a high asset divorce

Divorce is not easy for anyone, even if you acknowledge that the marriage has not been solid for quite some time. Whether you have prepared for the divorce for years or came to the realization recently, you will want to protect your finances as much as possible. Divorce is a nasty process, even if both of you agree it is time to end the marriage. Here's how you can protect your finances during a high asset divorce.

If you are over the age of 50 and headed for divorce, it's a good idea to sell the family home. If you are of this age, you likely already considered downsizing anyway since the kids are grown and living elsewhere. Why not continue that route and add some more income to your retirement by selling the home? Selling the home and living somewhere more affordable can help you save at least $500 per month on housing.

When a couple divorces, the spouses are free to discuss the division of assets and property as freely as they would like. The best way to come to an equitable division of assets is to look over the work records of each spouse, the length of the marriage and the earning power of each spouse. If you cannot come to an agreement, a judge will have no trouble making the decision for you and your spouse.

Once an agreement on finances is reached, do not delay the division of those assets. The longer you delay the division of the assets, the more difficult it can become to obtain them. You also cannot determine how the assets are invested until they have been divided and you have them in your possession.

Headed for divorce in Florida? Don't stress about the situation when you can speak with an experienced divorce attorney from our firm in Fort Lauderdale. Contact us today to discuss your case and how you can protect your finances in a high asset divorce.

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