Hi, How Can We Help You?

Blog

Money Secrets During Your Orlando, Florida Divorce

There was an interesting article titled “40 Money Secrets Only Divorce Attorneys Know” by Lia Sestric on Monday, November 7, 2022 on Yahoo Finance.

Here are the secrets from that article that can be applied to any Orlando, Florida area divorce:

  1. Don’t Let Emotions Dictate Your Financial Decisions. 
  2. Everything is Fair Game. 
  3. Make Big Purchases Before Filing.
  4. Take a Look at Your Spouse’s Finances. 
  5. Gather Key Evidence Before Filing. 
  6. Get Property Appraisals Before You Part Ways. 
  7. Don’t Hide Assets. 
  8. Watch Out for Hidden Tax Implications. 
  9. Get Job Training or Update Your Education Before Filing. 
  10. Consider Mediating Your Divorce. 
  11. Seek Professional Help to Guide You in Making More Informed Decisions About Finances Before Filing for Divorce. 
  12. Use QDROS to Divide Retirement Accounts. 
  13. If Your Attorney Recommends a Private Investigator, Hire One. 
  14. The Most Expensive Attorney is Not Always the Best. 
  15. Understand Debt Obligation. 
  16. Remove Your Spouse from Beneficiary Designations after the Final Judgment of Dissolution of Marriage is Entered. 
  17. Pay Court Ordered Attorney Fees. 
  18. Consider Your Income Before Asking for All Deductions. 
  19. Take Advantage of Free Legal Advice. 
  20. Be Mindful of the Date When Initiating Divorce. 
  21. Design a Joint Parenting Arrangement Wisely. 
  22. Speak to a Financial Planner Regarding Your Finances Post Divorce.  
  23. You Can’t Write Off Alimony Payments on Your Taxes. 
  24. If You Receive Alimony, You Do Not Have to Report Such Payments As Income. 
  25. Have a Paper Trail. 
  26. Division of Property Can Be Complex. 
  27. When Valuing Retirement Accounts, Take Into Consideration the Penalties or Taxes if They are Cashed. 
  28. Equitable Distribution is Used to Divide Property in Florida. 
  29. When in Doubt, Seek a Professional. 
  30. Make Sure You Actually Implement the Requirements of the Final Judgment of Dissolution of Marriage. 
  31. Compromise Could Help You. 
  32. Don’t Forget Your Health Insurance. 
  33. Belts are Always Tightened During a Divorce. 
  34. Take Action, but be Cautious When Filing for Divorce. 
  35. Avoid Underestimating Living Expenses. 
  36. Know What You Value. 
  37. Dress Appropriately for Court. 

The author spoke of other items that were not applicable in a Florida divorce. Therefore, they were not included. 

If you have more questions regarding a Marital and Family Law matter, you may call Ann Marie Giordano Gilden at Ann Marie Giordano Gilden, P.A. at 407-732-7620 and set an initial consultation.

This article is for informational purposes only and does not form an attorney client privilege. 

Share Post