It should be a matter of simple math: When you divide something in half, the total amount stays the same. To use a visual metaphor, when you cut a pie in half, the total amount of the food is still there — it’s just now in two smaller, equally sized pieces. It would make sense, then, to assume the same thing when you divide assets in a divorce. The overall assets are the same as before the divorce, except they are held individually by two people — each with a piece of the pie — rather than a married couple.
The division of assets in a divorce is not as easy as cutting a pie in half, of course. But other factors can lead to people coming out considerably worse off after a divorce, particularly if they don’t have an experienced Florida divorce attorney on their side throughout the process.
Marriage is often a boon to a couple’s finances. Major purchases can be shared, and responsibilities can be divided, allowing each member of the couple to be more productive with their time. Depending on the couple, the financial benefit varies, but according to some studies, married people are able to build wealth at a rate several times higher than their single counterparts.
In a divorce, though, that work is undone — and then some. In fact, for people who anticipate a divorce in their future, wealth actually declines leading up to the actual divorce. Ultimately, for many people, the post-divorce financial picture may be considerably bleaker than expected.
Getting divorced is a big change in a person’s life, and many people fail to view their financial situation as a substantial part of that change. The last thing you want is to inhibit your life in the wake of a divorce by being financially hamstrung. Work with an attorney who can help you address all aspects of this major life realignment.
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Partner at John F. Schutz, P.L.
Representing clients exclusively in family law cases for the past 24 years, Mr. Schutz is widely regarded as a marital and family law expert. He is Board Certified in marital and family law by The Florida Bar. As a Fellow of the American Academy of Matrimonial Lawyers (AAML), Mr. Schutz is committed to elevating the standards and improving the practice of family law.
Latest posts by John Schutz (see all)
- Is a Simplified Dissolution of Marriage a Viable Option? - October 29, 2019
- What are the Types of Alimony in Florida? - October 19, 2019
- Property Division In Florida - October 8, 2019
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