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Posts tagged "divorce"

Low-profile divorce for high-profile singer

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.

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.

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.

Grey divorce brings changes for retirement

A study from Bowling Green University's National Center for Family & Marriage Research revealed that more couples are divorcing later in life. As many Florida residents may already know, this can be attributed to longer life spans and a more liberal acceptance of divorce, among other factors. Regardless of when a couple decides on the dissolution of marriage, the ramifications can drastically alter the future plans of each individual. Couples who are going through a divorce later in life have different aspects to consider than younger couples deciding to separate. One of the more challenging aspects of grey divorce is the dividing up of financial assets that have been earned and co-mingled over a longer period of time. And retirement goals can be drastically altered in a grey divorce as well.

Advocates hope for Florida alimony reform

Advocates for Florida alimony reform are hoping to reintroduce a bill that would modify Florida's existing alimony laws. Advocates claim to have some sponsors in the legislature who will attempt to accomplish this goal; the bill was originally considered last year, but it languished in the Senate.The sponsors include Rep. Ritch Workman and Sen. Kelli Stargel. Workman has issued a press release in which he states that the bill seeks to clarify the law and to ensure that it is fair to all parties. Advocates are hoping to make several changes to existing alimony laws, including removing the existence of permanent alimony and establishing retirement for individuals who pay alimony at the age for federal retirement as well as for individuals of the standard retirement age in professions that are categorized as high risk.

Divorce and Social Security

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.