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Property Division Archives

Dividing the Spoils of War

With nearly half of the marriages in America ending in divorce, creating a barrier between your soon to be ex and your assets is a smart precaution to take. However, most Florida individuals believe that a prenup is the only way to protect assets during a division of marital property. Actually, there are many alternatives to protect your assets, most of which do not even have to be revealed to a spouse in a legal agreement at all.

Can a spouse take half a life insurance policy?

A question that often arises in a divorce action is what is done with insurance policies. Many Florida residents may wonder whether they can claim a portion of a former spouse's life insurance policy during property division if they are listed as the beneficiary of the policy.

Mako enters patent agreement with Stanmore

Mako Surgical Corp entered into a settlement with Stanmore Implants Worldwide Ltd. over a patent dispute. The settlement denoted that Mako will receive Stanmore's robotic business assets as well as its intellectual property. Furthermore, Mako has agreed to drop its patent-infringement litigation in two federal courts and the U.S. International Trade Commission, and Stanmore will withdraw from robotics. The dispute between Mako and Stanmore revolved around computerized surgical devices and software. Mako is a Florida-based company, and Stanmore is a London-based company that received U.S. regulatory approval to market one of its products that is used for knee surgery. Stanmore's Sculptor Robotic Guidance Arm competed with Mako's RIO Robotic Arm Interactive Orthopetic system. By securing the property division of its competitor, Mako has effectively taken a potential robotic competitor off the market, says an analyst.

Concerns facing high-wage earners in a marriage

It is generally the case that men have the higher income in a marriage. However, there is a trend that shows women are sometimes equal to or passing their husband's earning power in approximately 16 percent of households. Such changing facts are creating new property division issues.If an upcoming marriage is between two high-wage earners, it might be wise to create a prenuptial agreement that spells out exactly which spouse owns certain property and assets. If the couple is already married, a postnuptial agreement may be signed as well. While some people might view this as insulting, experts say couples should take it as a sign of mutual regard between the couple. Should the marriage end in divorce, everyone involved was done a financial service.

Some real estate agencies address common divorce issues

Many sellers in the Florida real estate market make up a niche that has become a specialty for some agencies. Couples going through a divorce often face challenges beyond those experienced by other sellers. The division of marital property can be contentious, and the different types of conflicts can have an effect on home showings, offers from prospective buyers and price negotiations.

Understanding property division during divorce

Although divorce is common today, many couples who have decided to end a relationship have no idea where to begin once the decision is made. They are unsure what happens to their property and assets when the petition to divorce is filed. Those who have assets that they inherited or brought into the marriage may be worried that the division of marital property ordered by family court will force them to split assets that are solely in their name.Generally, however, a court will not consider separate assets in the division of property during divorce proceedings, so individuals will retain their rightful property. However, experts caution that many people make the mistake of putting an inheritance or assets and property acquired prior to a marriage in the names of both themselves and their spouse. If this happens, the property or assets in question become joint marital property and will be divided accordingly. This is considered transmutation of property. Be warned however, that laws vary from state to state, and in some jurisdictions, an estranged spouse living on the property is enough to consider it marital property.

How to deal with divorce after 50

As the population ages, there has been an increase in the number of divorces that occur after the age of 50, also known as gray divorces. Gray divorces carry with them a number of issues that are not associated with divorces between younger couples, especially when it comes to property division. While dividing a couple's assets is a huge point of contention in most divorces, thanks to issues related to retirement, it can have a much larger impact on older divorcing couples.Those over the age of 50 are usually thinking about retirement, and the way assets are divided during a divorce can dramatically change people's options. Retirement accounts and IRAs are considered to be marital assets that are eligible for division. When individuals are older, it is much harder for them to rebuild these accounts once depleted, meaning that they may end up needing to work longer or change their retirement plans.

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.

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.

Florida woman wants her half of estranged husband's lottery winnings

A Florida woman is finally getting her day in court to discuss her estranged husband's legal responsibilities. The woman claims that her husband was part of a lottery pool with co-workers at American Airlines where he worked in 2007. The group won a lottery valued at an estimated $19 million. According to reports, the husband kept his winnings a secret from his wife. By the time she conducted an Internet search and discovered the truth, her husband had disappeared.The woman began an arduous legal battle for the proper division of marital property. In 2008, she attempted to bring her husband to court but was unable to locate him. The court eventually dropped her case due to a lack of evidence.