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Posts tagged "division of assets"

How divorce issues can hinder ability to purchase a home

Many Florida residents emerge from a divorce with an enormous sense of energy and enthusiasm about rebuilding their lives to suit their personal needs and aspirations. For some, a large step along the path toward independence is purchasing a home of their own. Even in times of economic uncertainty, buying a home remains one of the wisest financial moves that an individual can make. However, some would-be homeowners find that lingering divorce issues can have an adverse effect on their ability to finance a new home purchase.

Preparing for a divorce

According to a matrimonial attorney, March is one of the busiest times of the year for divorces. People who live in Florida may receive bonuses or tax returns during this time of year that make them decide it is time to move on. Before someone files for divorce, there are some steps that they should take to put them in a better financial situation and prepare them for the legal process. Having records of bank accounts, tax filings and credit card statements can help individuals build an argument for keeping certain assets or the need for child support and alimony. Therefore, gathering financial paperwork is one of the most important steps when someone is considering ending their marriage. Some credit companies will even break down types of spending, allowing people to show who charged what and when.

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