Florida residents who are thinking about filing for divorce might be wondering when it is permissible to withdraw funds from their joint accounts. The bottom line is that is varies from situation to situation. Of course, it is a valid concern for individuals to be worried about how they are going to fund their divorces and keep up with their living expenses, especially if they have no income of their own.
People in Florida who are considering getting a divorce often want to get the process over with as quickly as possible so they can put all the emotional baggage behind them. However, in their hurry to do so, they might make the mistake of putting off settling important issues such as splitting up retirement assets. Financial advisors say that doing so could prove to be a big mistake.
Florida MLB fans may recall that ownership of the Los Angeles Dodgers transferred hands in 2012. Recently, a judge ruled that the ex-wife of Frank McCourt, the erstwhile owner of the team, did not have a legal basis to share in the profits of his sale of the team, which occurred after the couple's divorce was final.
As home prices are rising in Florida and elsewhere, more couples are deciding to end their marriages. A decade ago, couples could count on using the profits from the sale of their property to buy and furnish their own home, but the less stable real estate market of recent years served as reason enough for some couples to delay their divorces until they were able to sell their homes for a profit. Rather than get divorced while the family home is underwater, these couples waited until they were able to sell the property and walk away with some money to start their new lives.