Floridians who are separating from or divorcing their spouses need to think about the various ways they can protect themselves during the process of identifying their final settlements with their partners. One of the things that people should pay special attention to at this time is social media. While this platform has become all but ubiquitous in society today, taking a break from it when in the midst of a divorce may be in one's best interests.
As any Florida resident can attest, going through a divorce can be devastating, both emotionally and financially. However, you might not realize the full emotional impact of a divorce until you are in the middle of one. In fact, the effects can continue for months or years after your divorce, especially if you are female, as some studies have shown, and emotional stress can have physical results.
If you and your spouse in Florida have decided that you can no longer remain married to each other, you must now embark on the journey that involves figuring out the details of your divorce settlement. If you own a home, this means that the two of you must choose what to do with that property and its associated home mortgage.
Florida residents who are facing a marital separation or divorce know that they will end up having to figure out how to split their assets. However, it is important for them to remember that their debts will also need to be dealt with during the process. Spouses should learn what is involved with debt division during a divorce in order to protect themselves down the road.
If you are one of the many people in Florida who is in the midst of a divorce or who may even be recently divorced, you might naturally put a lot of your attention on getting your divorce decree completed and finalized. While an important milestone indeed, it is far from the last thing you will need to take care of.
Divorce can really take its toll on a family. This is especially true when it comes to finances, which are often negatively impacted after a marriage breaks up. Fortunately, there are steps you can take to bounce back from the financial aspects of divorce, as explained by Entrepreneur.
If you are ordered to make alimony payments in your divorce settlement, you have been able to write those payments off on your taxes in years past. Previously, alimony payments were tax deductible under federal law. However, changes to this federal law have restricted this right for people in Florida and throughout the United States. In 2019, alimony payments are no longer tax deductible, and this change may have a significant effect on your taxes, your finances and your life.
If you have recently filed for divorce or are simply considering the prospect, there are a host of issues you must tackle when creating the divorce settlement. Property division may be one of the most overwhelming issues, as it is often hard to divide the possessions that were accumulated during the marriage. Florida is an equitable division of property state, meaning all marital property is divided according to what is deemed fair and equitable. However, not all items are considered marital in some divorce cases, and you may be able to keep possession of property without dividing it in the final divorce settlement.
As one-half of a Florida high-asset couple seeking a divorce, you may fear that your spouse is hiding marital assets in order to deprive you of that which is legally yours and enhance his or her own post-divorce financial situation. Unfortunately, spousal marital asset hiding represents a rather common form of financial fraud practiced by a surprising number of vindictive and/or greedy spouses.
Divorce at any age can be emotional. Not only are you faced with the task of dividing marital property you have accumulated during the marriage, but there are financial issues that must be addressed before the final settlement is approved. This can be especially difficult if you are over the age of 50 years. Although you may believe that the longer you stay married, the less likely you are to file for divorce, a study initiated by Bowling Green University shows differently. According to researchers, the rate of people over the age of 50 who are filing for divorce is steadily increasing. While only one in ten people in this age bracket filed for divorce in 1990, one in four filed in 2009 and the numbers have risen. It is predicted that the number of post 50-year-old divorces could reach 800,000 by 2030.