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Posts tagged "high asset divorce"

Who is responsible for debts during a divorce?

During a marriage, much of what is acquired is considered the joint property of the spouses. Throughout Florida, married couples acquire artwork, residences, cars, jewelry, business assets and a host of other tangible and intangible items that collectively make up their combined wealth. In some cases, couples may also acquire a different kind of financial obligation that they must manage: debt.

Is my inheritance considered marital property?

It is the hope of many Floridians that they will be able to leave an inheritance for their children and other loved ones. An inheritance can be a bequest of property from a deceased party's estate to another. Often in the case the case of married couples, inheritances are granted to one of the parties to the relationship. Even so, how an inheritance is structured and how it is used once it has been distributed can have significant bearing on whether it will be considered separate or marital property during a divorce.

Are your finances ready for your pending divorce?

The decision to divorce is often an emotional one and grows out of a sense of dissatisfaction that the partners have with regard to their relationship. Once they decide to end their marriage, though, the process becomes a legal one, as it is up to a court of law to undo the legal bond that the partners to the couple created when they married. But even though a divorce is a legal process, many of the important matters that must be settled between the individuals surround one particular topic: money.

Cryptocurrency can complicate divorce

When a Florida resident opens a retirement account or places money in a savings account, it is relatively easy for them to check on its value. They may call up the institution where the account is held and inquire, or they may check a recent statement that they received regarding the account's status. The openness of access to a person's financial devices makes it easy for them to stay on top of their money and to understand their accounts' value in the event they have to divide them due to a divorce.

Know the requirements for filing for divorce in Florida

Although divorces are emotional processes that require Florida residents to find new ways of living once their relationships are over, they are also highly technical legal processes that have many requirements that must be met in order to be completed. This post will look at just a few of the steps a person may have to take in order to file for divorce in the state but as always readers are reminded that this blog does not provide legal advice.

Actor files for divorce from wife

Scottish actor Ewan McGregor is well-known to Florida moviegoers for his leading roles in movies such as "Star Wars" and "Moulin Rouge!" He has also enjoyed what has seemed to be a relatively stable personal life with his wife of nearly 22 years and their four children. However, just recently, the actor filed for divorce to end his legal union amid speculation that he has begun a relationship with another woman.

Start of the year brings increase in divorces

The first month of the New Year offers many Floridians the promise of a clean slate on which to write the story of their lives. Whether through resolutions or recommitments to the things that bring them peace and joy, individuals often seek to pursue actions and activities that will better their lives. One unexpected pursuit that a number of people often begin is the process of ending their marriages.

Individual retirement accounts and your divorce

An individual retirement account, also known as an IRA, is an investment tool that many Floridians utilize to prepare for their eventual retirement. It is a tool that allows a person to channel funds into an account that will, over time, grow in size due to increases in the value of the investments contained therein. There are requirements on who may open the different types of IRAs and not all individuals may be able to use them to save for their futures.

Financial concerns can complicate a New Year divorce

Although divorces occur through the year, in Florida and other parts of the country divorces tend to increase after the holiday season. Whether they are precipitated by the togetherness that the holidays often impose upon families or because parents do not want to break up their families during a traditionally happy time of year, post-holiday divorces happen to couples who may have never expected to end their marriages.