What to expect financially after the breakup of long term marriage?

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What to expect financially after the breakup of long term marriage?

Separated for 5 1/2 years; just turned 64. Husband works for state of FL as a wildlife officer; age 60. Need to know where I stand financially. He wants talk to me. Married 38 years. Really don’t want to divorce but need help. Live with son; get $300 a month social security.

Asked on June 18, 2011 under Family Law, Florida

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

The first thing you should consider is consulting with a good family law attorney about the desired divorce by your husband.

The laws of each State in this country are different re allocation of assets of the marital community when a divorce happens. If you have lived in a community property State for the bulk of the time you have been married, then you would be entitled to one half of all assets of the marriage except those items that are held as separate property. Items that are held in separate property belong to the person in whose name they are in.

Potentially you would be entitled to one-half of your husband's retirement accrued up to the date of separation. Many States hold that assets acquired by each party who are going to be divorced after separation are the separate property of that person.

For starters, you should start listing real properties and other assets acquired by you and your husband while living together prior to separation to get a general idea of your finances now and upon the likely divorce.

Divorce is a difficult proceeding and complicated. A good family law lawyer can make the process much easier to deal with.


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