Ending your marriage will likely have a significant impact on your finances, and this is generally true whether you dissolve your marriage through mediation or with the help of a Florida judge. You may also struggle financially even if you are entitled to alimony.
Have a plan
If you think that your marriage is going to end soon, you should gather as many financial documents as possible. Joint bank account statements, copies of recent tax documents and other forms can give you a better idea of how much your household is worth and how much you may be entitled to in a divorce settlement. You will be informed how much you’ll need to allocate for housing, transportation and other costs after your marriage comes to an end and you’re paying these expenses yourself.
Update your resume
In a divorce, you may lose funds in a bank, brokerage or retirement account. Therefore, you may need to go back into the workforce to regain a sense of financial security. Taking time to update your resume or build your network while the divorce process is ongoing may make it easier to find work quickly after your marriage comes to an end. You may also want to consider going back to school or taking other steps to make yourself more marketable to employers or as an independent consultant.
A divorce will likely mean that you have to push back your retirement date or make other adjustments to your lifestyle. However, taking proactive steps to prepare for these changes such as gathering financial records may make them easier to deal with as well as easier to recover from in a timely manner.