Floridians may be interested to hear that after 21 years of marriage, acclaimed filmmaker Michael Moore has filed for divorce from his wife Kathleen Glynn. A complaint filed at the Antrim County Court has revealed that the high-profile couple had already been living apart for some time. The complaint also stated that there is "no reasonable likelihood that the marriage can be preserved." The two own a home together in Traverse City, Michigan, and have no children.
When people file for bankruptcy and undergo a divorce almost simultaneously, they may wonder--should the divorce or the bankruptcy come first? This is an complicated question, particularly when elements like assets, debt and property division come into play.
Florida couples contemplating getting a divorce might be interested to learn that some states are contemplating changing their alimony laws. Alimony comes into play when one spouse is ordered to make payments to the other spouse after they are divorced. Traditionally, when a spouse was ordered by the court to make payments to his or her ex, those payments lasted for the rest of his or her life. Some states are debating whether or not to change alimony laws to where lifetime alimony would be abandoned in favor of alimony calculated with special formulas that would determine how much alimony a spouse would have to pay and for how long.
A comprehensive divorce settlement agreement in Florida should include the valuation and division of all assets that were acquired during the marriage. These assets include everything from homes and bank accounts to baseball card collections and frequent flier miles. The division of marital property should be completed based on the value of the asset although, in many instances, it becomes an emotional battle between the divorcing parties.