Hidden assets are a possibility in any divorce, but it is often a little easier to hide funds or physical assets, such as a house or recreational vehicle, if the couple had substantial assets or incomes. In any high asset divorce it is of the utmost importance that all of the assets and income streams are reported accurately to the courts so that the divorce settlement can proceed accordingly.
By keeping track of the marriages and divorces that take place every year, the state of Florida is able to see patterns that happen over the course of one year as well as those that occur over decades. According to the Florida Vital Statistics Annual Report for 2014, the declining divorce rate continued in the state, although the number of marriages increased from 2013. In 2013, there were 137,127 marriages performed in the state of Florida, but that increased to 145,250 in 2014.
The financial issues are almost always a heated topic in every divorce. Couples often have very different ideas of what is a fair settlement, and it's not unusual for one or even both parties to attempt to get more than their fair share out of the divorce as a way to punish the other person. Divorces that include high value assets can be even more challenging.
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.
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.
When a high-profile couple files for divorce, the press has a field day reporting on every aspect of the couple's relationship and the circumstances leading to the breakup. In the case of music legend George Clinton, few members of the press and the public were even aware that he was married. According to the divorce papers filed in Florida, the marriage between George and Stephanie Clinton lasted for 22 years, but they have been separated for a long time. The grounds cited for the divorce is that the marriage is irrevocably broken.
When couples are in a dispute regarding property division, they may not be in agreement regarding real estate they own, money and liquid assets. However, many couples may not be aware that they may be entitled to future benefits, including a portion of retirement accounts and Social Security benefits. According to a spokesman of the Social Security Administration's press office, there are some situations in which a spouse can receive benefits from a spouse's Social Security benefits whom he or she divorced. In order to receive benefits, the marriage must have lasted 10 years or more. Additionally, the person must be unmarried and not be entitled to a higher amount of benefits based on his or her own employment record. The person must be at least 62 years old before he or she can collect these benefits. Furthermore, the ex-spouse must be eligible to receive their own Social Security benefits even if he or she has not yet applied for them. However, if the ex-spouse is not yet receiving his benefits, the couple must have been divorced for at least two years before the other spouse can collect on the benefits.
Marysol Patton, a star of "Real Housewives of Miami," has filed for divorce from her French husband. In spite of the dissolution of marriage, the reality star claims that she and her husband are on good terms.
The process of catching a cheating spouse isn't what it used to be. The era of the private detective with a camera staking out a cheating partner has given way to an arsenal of electronic spy gear that consumers can purchase and use to snoop on their spouse. High technology is being used to detect infidelity, monitor child visitation, and generally get the goods on the other partner for later use in court. When lots of money is at stake in settlement negotiations, investing a few thousand dollars in gadgets can be money well spent.