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.
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.
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.
Florida residents often enter their marriages after working hard in their careers and earning significant income prior to walking down the aisle. As such, when they marry, they may possess significant assets and wealth separate and apart from what they may plan to own with their future spouse. If they do not safeguard the management and use of their separate property, though, those assets may be viewed as marital property and may be subject to division should the couple eventually divorce.
It is important that readers of this family law blog understand that alimony, also known as spousal support, does not apply to all Florida divorces. In some cases, the parties to the ending marriage may elect to forego spousal support and rely on their own incomes following the termination of their legal relationships. In other cases, however, one partner to an ending marriage may need financial help to start their life over on their own.
If you have not experienced divorce for yourself, then you likely know someone who has gone through the process to legally end their relationship with their spouse. Couples throughout Florida decide to break up for a number of reasons, and those reasons can range across a vast spectrum of topics.
It is a common misconception that when two people end a marriage, the property that they own will always be evenly divided and distributed to the individuals following their divorce. While in some states, the concept of community property and equal ownership are the law, this is not the case in Florida. Rather than making an exact split down the middle of a couple's shared property, a Florida court will examine a number of factors before determining how the parties' property should be handled.
Not every high asset marriage ends with the parties emerging with equal shares in their apparently vast wealth. Depending upon the presence of prenuptial agreements, the manner in which assets were held or used during the marriage and other factors a Florida resident who lived a wealthy married life may find that their financial power diminishes significantly after their relationship is over.
She is a designer for an international fashion house. He is the producer of some of modern history's greatest films. Floridians may know the names Georgina Chapman and Harvey Weinstein for their professional accomplishments, but now the pair is in the news because Chapman has decided to end their nearly decade-long marriage.
The process of separating one's life from that of their marital partner can take some time. Florida couples that choose to divorce may have to endure months of negotiations before their final decrees of divorce are issued by the courts. During that time, the partners may begin to live their separate lives even though technically they are still wed.