Five Steps To Regaining Financial Security After A Divorce In Fort Lauderdale
Getting a divorce in Fort Lauderdale is a life-changing event. In addition to the personal impacts you are dealing with, it is important to be aware of how it could impact your lifestyle now and in the future. Concerns regarding finances are common but rather than letting them fill you with fear, they can motivate you to take the steps needed to regain your financial security.
Rebuilding Financially After A Divorce
It can be unsettling to contemplate a divorce and the financial changes that it often results in. Fears about financial security should not cause you to remain in an unhappy marriage or put a damper on your new life once your divorce becomes final. The following five steps can help you overcome these fears and re-establish yourself in the months ahead:
- Rebuild your credit.
One of your top priorities should be rebuilding your credit score. Companies such as Experian can provide copies of your credit report and tips on how to improve your score, such as closing joint accounts, opening up one in your name alone, and making regular payments.
- Consider sources of income.
Making the adjustment to living on a single income can be challenging after being married. If you did not work during your marriage or make significantly less than your spouse, you may be entitled to spousal support payments. These can help you maintain your standard of living while getting the education or experience you need to reenter the workforce.
- Create a workable budget.
Create a budget based on your current income and make the effort to stick with it. While you may want to fight for the family home during your divorce, particularly if you have children, consider whether you can afford the maintenance and utility payments that go along with it.
- Make the most of marital assets.
Under the Florida Statutes, you are entitled to an equitable share of any property and assets earned or accumulated during your marriage. As mentioned above, this includes your family home, as well as cars, furniture and household belongings, shares in businesses, funds in bank accounts, and your spouse’s 401k or pension benefits. If you were married for at least ten years, you may also be able to claim a portion of their Social Security retirement benefits.
- Make sure child support orders are enforced.
If you have children from the marriage, child support can play a major role in ensuring they are provided for. If your spouse does not make these payments, our Fort Lauderdale divorce attorney can guide you in enforcement efforts.
Let Us Help You Today
Fort Lauderdale divorce attorney Vanessa L. Prieto acts as a strong legal advocate on your side during divorce proceedings. Our goal is to ensure you get the maximum amount in any settlements, which can help in reclaiming financial security in the aftermath. To request a consultation, contact our office today.
Resource:
ssa.gov/benefits/retirement/planner/applying7.html
