The end of a marriage can be a difficult time in the lives of many Florida residents. Coming to terms with the fact that one's trajectory is about to change can be stressful, and the emotional reaction that many spouses have is to hold on tight to those things that seem stable. For some, retaining the family home becomes a focus within the divorce, to the exclusion of all other things. While it is understandable to want to remain living within one's home, keeping the house is often not the best possible property division move.
Property division and other financial matters are usually negotiated in divorce. Besides homes, Florida spouses often have disputes regarding who gets to keep the pet during property division. Most areas treat pets as property while others allow owners to have custody arrangements.
For most people, divorce can be a draining action, both physically and emotionally. The stress of the process combined with the emotional strain and lost relationships can be extremely hurtful to the emotions of an individual. This can sometimes lead to more pain being created, and the difficulty of the divorce being increased greatly. However, if Florida residents going through a divorce take certain steps to take care of themselves, it could help as they navigate legal issues such as property division and child custody during the divorce.
There are many Florida couples who divorce daily and are able to be financially stable not long after. For many older couples, though, it may be harder. We have previously discussed complex property division and alimony, but have yet to discuss financial protection. When a couple decides to divorce after 50, the result can be detrimental to one's financial stability. Of course, this fact likely won't make someone want to stay in a marriage they are unhappy in, and there are strategies one can use to be protected financially in the event of a divorce.
Among the chief concerns of Florida spouses who are preparing to divorce is how to handle the division of marital property. Real estate poses a particular concern, due to the large volume of uncertainties surrounding the value of a home and its likelihood of selling. For some, the challenges of dealing with the disposition of the family home are overwhelming. Couples should remember, however, that they have options when it comes to dividing property during a divorce.
When a Florida marriage is falling apart, spouses often base their decision to file for divorce on a range of financial factors. Even wealthy spouses have to consider the financial aspects of a divorce, especially in cases in which one spouse has little control over the family finances. It is not uncommon for an angry spouse to limit the ability of the other partner to access marital funds, which can cause problems when attempting to end an unhappy marriage.
For business executives or others with very high income and substantial assets, becoming married can be a problematic step that could involve severe economic repercussions should the marriage turn out to be an ill-conceived mistake. Some individuals with children from prior marriages also want to protect them from the economic vagaries of a new marriage. These are a few reasons why someone in Florida or another state might find prenuptial agreements to be a serious option prior to tying the proverbial knot.
Divorce can be a difficult time for the people involved. Sometimes, a marriage doesn't work out, and the parties have to try to agree on property division, alimony, child custody and more. This is the same whether in Florida or another state. Divorce may lead to intense discussions and strong emotions, so knowing the law behind the issues can help.
A critical part of dividing assets and determining alimony in a divorce case is determining the wealth, income and assets of both parties. Without a clear and accurate assessment of what each spouse has to work with, a judge can't make a fair decision about how assets should be distributed. In a high-profile divorce case in Seminole County, a Florida legislator is being accused of being less than honest due to his alleged use of creative accounting methods.
As some Florida residents may have heard, Mel Gibson's high-profile divorce has cost him a slice of his retirement accounts. According to court documents obtained from his 2011 case, the actor-director agreed to share his pension proceeds from both the Screen Actors Guild and the Directors Guild of America with his wife of 31 years. The initial property division is estimated to have involved more than $850 million in assets.