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Posts tagged "Property Division"

Florida law sets considerations for property division

Property division in Florida can be a difficult issue for people going through a divorce. Unlike some other states, Florida law doesn't stipulate that assets and debts have to be split down the middle. Instead, the law deems that all assets and debts must be divided equitably. This means that you and your ex won't necessarily get equal settlements when the property is divided.

Marital property in Florida is divided based on what is equitable

The assets that you acquired during your marriage have to be divided when you get a divorce. Florida is one of the states in the country that doesn't deal with the community property concept in which assets and liabilities are divided evenly. Instead, the court in Florida will look at what is fair when dividing property.

Should we sell the house?

What to do with the marital home is a major consideration in many divorce proceedings. Sometimes it's a simple matter of both parties agreeing for one person to stay in the house. However, even if it's not something you are fighting over, there still may need to be some changes, such as getting the mortgage in the name of only the person who's retaining the home.

Unemployment status increases divorce risk

Every couple has financial issues that come up from time to time, and disagreements about money and budgeting are common in most marriages. When there is significant financial strain, it can raise the stress levels of both parties, decreasing marital satisfaction and increasing the chance of divorce. However, a study set to be published in the American Sociological Review found that it may not be the actual lack of money that's the problem.

Study shows women end up farther in debt later in life

When many people think of their golden years, they envision traveling the country or spending time visiting with friends and family. However, retirement isn't always this idyllic, and many are finding that their finances and debt levels are seriously impacting their quality of life.

Protect your inheritance in the event of a divorce down the road

A loved one who leaves you with an inheritance likely expected that you would be the person to enjoy it. Ensuring that the inheritance won't be taken from you if you end up getting a divorce is crucial. Whether you received the inheritance before you were married or after, you can still take steps to keep it protected.

Property division matters can affect your new life

Throughout a marriage, couples usually accumulate possessions and assets. In many cases, both parties work hard to get the things they have together. If the marriage begins to fail, there is a chance that a divorce will occur soon. One aspect of divorce that is necessary is dividing up all those assets and possessions that you acquired during your marriage.

What happens to the marital debt during a divorce?

Understanding what happens to the marital debt during and after a divorce is an important part of being prepared for life after the divorce and ensuring you understand what financial obligations you will have to meet. In Florida, what happens to debt depends on whether it is a joint or individual account.

Pros and cons of keeping your married name after divorce

Changing your name back to your maiden name after a divorce is a surprisingly controversial subject with those on both sides having strong feelings on the matter. It's asked as part of almost every divorce settlement where one or both party changed their last names after the marriage. In the end, this is a personal choice, but there are some pros and cons to be aware of as you make this decision.

What assets are often overlooked in property division?

Divorce can really make you feel as though you're in a whirlwind. You and your soon-to-be ex have been fighting over children, child support, spousal support and property division. You may just feel as though you're ready for the whole thing to be over, so you're ready to agree to whatever property division is proposed. Unfortunately, your ex hopes you will forget about several assets that should be divided.