Couples in Florida that experience a divorce know the emotions and associated complications that accompany that process. However, emotional trauma is not the only potential pitfall when facing the end of a marriage. Many spouses can experience financial loss as well. While the dangers of divorce are commonly discussed for women, men also are at risk during a divorce.
Divorce legal issues may include many financial factors such as property division, retirement account distribution, business valuation and more. Not only can assets be lost or split but the cost that men often pay to negotiate a settlement can be extremely high. One article discusses the wide range of the cost of divorce based upon the complexity of the property distribution in part.
It is still common for men to be responsible for paying child support or alimony yet that may not always be a palatable solution. For many ex-husbands, thought of making monthly payments to their ex-wives is the last thing they want to do. Men, however, do have options such as paying bills or expenses directly so that they can bypass giving checks directly to their former spouses. Additionally, carefully outlining what costs are included in child support can help avoid unnecessary or unplanned expenses later on.
Men should take caution to navigate the financial waters of a divorce carefully just as women should. Working with an experienced family law attorney may be a very helpful way for men in a divorce to prevent unnecessary financial or asset loss.
Source: Forbes, “What Every Man Needs To Know About The Financial Side Of Divorce,” Hayley Krischer, September 27, 2013