Divorce is one of the most upsetting events that can happen in a person's life. It is a long and expensive process that can be made even worse when there are assets, children, or other areas of contention. Floridians considering a divorce may find it interesting to know that a relatively simple divorce process may be available.
During a divorce proceeding, dividing a couple's marital property can be a complex task, particularly if the couple has substantial assets. Deciding who gets what is usually done by first segregating marital property from separate property. However, some may wonder how lottery winnings would be divided in a divorce settlement?
Two-time Oscar winner Robert De Niro's divorce fight is becoming increasingly complicated as his estranged wife Grace Hightower wants half of his fortune, which she alleges is around $500 million. According to sources, the separated couple is battling over the wordings of a prenuptial agreement they signed when they married for the second time in 2004. The couple was first married in 1997 but split in 1999.
Money and property are believed to be two of the main causes of divorce. If the couple cannot reach an agreement as to how their property and debts will be divided, the court will step in.
Are you getting married? Have you considered signing a prenuptial agreement? Prenuptial agreements are one approach to control the financial aspects of your life in the event the marriage ends in divorce.
When a Florida couple decides to part ways, they must deal with various issues. These issues include property division, child custody, child support and alimony. Most of these affect a divorcing spouse's finances, as well as the taxes they have to pay. For instance, per the guidelines of the Internal Revenue Service, child support is never tax deductible and isn't considered income; however, alimony payments do have an effect on a person's tax obligations. Now, changes under the Tax Cuts and Jobs Act have made solving disputes just a bit more complicated.
Married life has many twists and turns. We should not be disheartened at such an unexpected turn of events but should manage it with care and caution by coming to a mutually agreeable settlement, especially regarding property.
According to a number of studies, people aged 50 and above are divorcing at a historically high rate. In legal terms, these so-called gray divorces are essentially the same as divorces among younger people. However, divorce among older people, who have had more time to earn income and collect assets, can be more complex when it comes to the division of property.
Most Florida couples do not expect to find themselves experiencing divorce after 40 years of marriage. However, it is becoming more and more common, and presents its own set of unique challenges. Late-in-life divorce is also sometimes referred to as a "silver divorce" or "gray divorce." They often result from regrets, resentments, or financial issues which have accumulated over time.
The divorce announcement of Amazon founder and CEO, Jeff Bezos, and wife, MacKenzie Bezos, was made via Twitter on Wednesday, Jan. 2. And, it likely shocked many Florida residents as the couple are considered to be the richest in the world, with Jeff Bezos having an estimated worth of over $137 billion. MacKenzie Bezos was one of the first employees at Amazon. However, she and her husband met prior to the Amazon start-up at a hedge fund and technology development firm by the name of D.E. Shaw, where Jeff was her boss.