Whether or not an asset is “marital” or “nonmarital” is often a key issue in a divorce. Marital assets are generally considered jointly owned by both husband and wife, and it is usually up to the court to decide how those assets will be distributed. Nonmarital assets, however, are considered…
Whether or not an asset is “marital” or “nonmarital” is often a key issue in a divorce. Marital assets are generally considered jointly owned by both husband and wife, and it is usually up to the court to decide how those assets will be distributed. Nonmarital assets, however, are considered…
Florida is an equitable distribution state, meaning that marital assets are divided on an equitable basis. Or at least that is a court’s objective. Under Florida’s equitable distribution statute, marital property should be equitably divided between divorcing parties. Florida Statute § 61.075 requires that a court begin the process…
There are two situations where you might like to get back the rather expensive ring you bought your bride before your relationship ended: a broken-off engagement or a divorce. The answer to “who gets the ring?” is different in each situation. Broken-Off Engagement: engagement rings are considered “conditional gifts.” In…
Because the beneficiary designation was never updated post divorce finalization, the Supreme Court of Florida has ruled a former spouse still entitled to death benefits payable from a retirement plan. Unambiguous language in the Marital Settlement Agreement can avoid a beneficiary designation even where a spouse has neglected to remove…
The short answer to this question is, unfortunately yes. If, in a divorce, one party is granted sole exclusive use and possession of the former marital home the other party could still be held responsible in the event of a default on the mortgage. Thus, even if the former marital…
The Daily Pitch is reporting that Frank and Jamie McCourt have reached a divorce agreement that will give Frank McCourt, the Los Angeles Dodgers Owner, sole control over the Dodgers. Jamie McCourt, on the other hand, will be leaving the marriage with a hefty $130 million in her pocket. The…
When a family is going through a divorce it can be one of the toughest times in a person’s life. Concerns range from child support, alimony, and distribution of assets and liabilities. Many people find themselves so caught up in the emotion of their case that they can overlook very…
Florida is one of the many states that does not consider fault for grounds of divorce. In other words, you don’t have to show that your spouse has wronged you in any way; you just have to show that the marriage is “irretrievably broken.” The actual process is relatively straightforward.…
When deciding whether to grant alimony in a divorce case, Courts consider many factors, including the length of the marriage, the spouses’ employment prospects, the age of each party, their standard of living, their marital contributions, their available income and assets, and the fairness of the situation. Generally, the shorter…