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February 2013 Archives

Understanding your financial options during divorce

Many women in Florida and throughout the country have decided to take control of their financial security by opening bank accounts of their own. In some situations, these bank accounts are opened without their husband's knowledge. Women do this for a variety of reasons. With so many couples deciding to marry later in life, this is seen as a way to maintain their financial independence. For others, it is a way to avoid complex and contentious property division should the marriage fail.There are several pros and cons to opening up a secret bank account. Many women have had the unfortunate experience of their husbands draining their joint checking account, leaving them without the funds to hire legal representation. A situation like this could have been prevented if the woman had funds that their husbands did not have access to.

Understanding the need for a prenuptial agreement

A prenuptial agreement may seem appropriate for only wealthy couples to many Texas residents, but having one in place is becoming increasingly common for even couples of average income when a wedding in the works. While it may seem like an unromantic gesture, having this document in place is actually due diligence for financial stability in the future.One reason that couples may consider getting a prenup is because they have a net worth of over $100,000 or family heirlooms that they do not want to lose in a divorce. Additionally, they may have experienced costly divorce litigation in the past. Having a prenup in place can potentially save a couple both money, heartache and emotional stress should the marriage not last.

Florida man faces criminal charges for failing to pay child support

A Florida man has been charged with failure to pay court-ordered child support to his former wife. According to authorities, the man was ordered in 2002 to pay her over $2,000 a month in child support and day care costs; she claims that she never received any of these payments. As a result of his failure to comply with his legal responsibilities, the 49-year-old is being charged with nine counts of failure to pay child support. He reportedly owes his ex-wife over $165,000 for the payments not received between 2002 through 2012. If he is found guilty on all nine charges, he could face more than a dozen years in prison.

Appraisals necessary for divorcing couples with real estate

Perhaps one of the most emotional and difficult aspects of a divorce is dividing real estate acquired during the marriage. That's because a home is often more than just a property because of the many memories that have been created there. Florida couples often must decide whether one person should remain in the residence or if the property should be sold and the profits divided. Many homeowners have added unique and distinctive features to their properties. In some cases, these features can add considerable value to a home. Features such as a large garage, barn or water dock can be attractive features to future home buyers. However, an expensive addition such as a swimming pool may not add a great deal of value to a home.