Money & Property Archives - Page 2 of 2 - Family Diplomacy

In Florida, Can A Husband Be Awarded Alimony?

February 20, 2013/1 Comment/in Alimony, Florida Statutes, Money & Property //Tags: alimony, bridge-the-gap alimony, durational alimony, Florida alimony, Florida alimony laws, long term alimony, lump sum alimony, permanent periodic alimony, rehabilitative alimony, spousal support, temporary alimonyby Adam B. Cordover, Attorney-at-Law

When you think of Florida alimony, you might only consider those times when a husband is ordered (or agrees) to make spousal support payments to a wife. But we no longer live in the 1950’s. I am running into more divorce situations where the wife earns significantly more than the husband, and the wife is ordered (or agrees) to pay alimony to the husband.

An award of alimony to a husband is made based on the same exact factors that an award of alimony to a wife is made. The primary consideration is the husband’s need for spousal support, and the wife’s ability to pay. Once a court has determined that there is a need and ability to pay, the court will determine the length and extent of the alimony award after considering the following factors:

(a) The standard of living established during the marriage.
(b) The duration of the marriage.
(c) The age and the physical and emotional condition of each party.

Income Withholding Order

June 17, 2012/0 Comments/in Child Support, Divorce, Money & Property //Tags: 13th Judicial Circuit, alimony, arrearages, bridge-the-gap alimony, child support, durational alimony, Florida alimony, Florida alimony laws, government, Hillsborough County, income deduction order, income withholding order, long term alimony, lump sum alimony, permanent periodic alimony, rehabilitative alimony, spousal support, support unconnected with dissolution of marriage, Tampa, Tampa Bay Family Law Attorney, temporary alimonyby Adam B. Cordover, Attorney-at-Law

For quite some time, Florida has permitted child support and alimony payments to be deducted directly from a person’s paycheck. This had been done through an income deduction order authorized by section 61.1301 of the Florida Statutes.

Recently, the federal government mandated that OMB Form 0970-0154 (Income Withholding for Support Order) be used in place of state income deduction forms. Accordingly, Hillsborough County’s Thirteenth Judicial Circuit has published a packet which includes the federal Income Withholding Order along with the Florida Addendum to the federal order and a Payment Information Sheet.

If you have a matter involving Florida alimony or child support and you are looking to schedule a consultation with a Tampa Bay family law attorney, contact The Law Firm of Adam B. Cordover, P.A., at (813) 443-0615 or by filling out our online form.

Does Florida Have Alimony Guidelines?

June 6, 2012/1 Comment/in Alimony, Florida Statutes, Money & Property //Tags: alimony, bridge-the-gap alimony, child support, child support guidelines, durational alimony, Florida alimony, Florida alimony laws, long term alimony, permanent periodic alimony, rehabilitative alimony, temporary alimonyby Adam B. Cordover, Attorney-at-Law

When judges and child support hearing officers determine what amount of child support a parent should pay, they have a formula to help guide them to a proper child support amount. These guidelines take into account each party’s income, the amount of time a child spends with each party, and the amount of money each party spends on healthcare and daycare for the child.

So does Florida have any similar guidelines to help a judge determine a proper amount of alimony?

Tax Issues for Divorcing Spouses to Look Into

April 3, 2012/0 Comments/in Divorce, Money & Property, Separate Property //Tags: alimony, dissolution of marriage, divorceby Adam B. Cordover, Attorney-at-Law

Mandi Woodruff at the Business Insider provides the following tips for divorcing spouses:

Procrastinating. If you’re newly divorced and haven’t filed taxes as you read this article, you might want to get a move on it. First of all, there’s no telling how willing your ex will be to fork over his or her tax records, which could throw a major roadblock in your way. And if you’re relying on a CPA or tax preparer to play mediator, chances are high they’ll be too swamped this late in the season to field your last-minute questions.

Setting yourself up for liability by filing jointly. Every couple has to decide whether to file as married (joint) or married (filing separately) after a divorce. There’s a big difference here, which is that filing jointly means you’re on the hook if your ex winds up in tax trouble. “You’re liable for everything on the tax return even if it’s related to your spouse,” Mindel says.

Read more →

Calculating Child Support: Net Income

September 22, 2011/1 Comment/in Divorce, Money & Property, Self-Employeed Income //Tags: child custody, child support, divorce, Florida Statutes, paternityby Adam B. Cordover, Attorney-at-Law

In a previous post, I provided a list of items which would be considered gross income for child support or alimony purposes. Florida law does allow some deductions to that gross amount prior to calculating a child support obligation. These deductions include the following: Read more →

What is Considered “Income” for Alimony and Child Support Purposes?

September 15, 2011/2 Comments/in Divorce, Money & Property, Self-Employeed Income //Tags: alimony, child support, divorce, Florida Statutes, modification of final judgment, paternity, support unconnected with dissolution of marriageby Adam B. Cordover, Attorney-at-Law

In a Florida family law case that involves a claim for alimony or child support, one of the most important preliminary considerations is how much income each party has. In child support cases, each party’s income gets plugged into a formula that tells us what the law presumes is the correct amount of child support. In alimony cases, the income of each party is important to help determine whether one spouse has the need for support and the other spouse has the ability to pay support.

You should keep in mind that the term “income” in family law cases is defined differently than how the term is used in the Federal Tax Code or in other situations. Section 61.046, Florida Statutes (2011), defines “income” for family law purposes as follows:

Read more →

Video: Basic Allowance for Housing

August 22, 2011/2 Comments/in Child Support, Divorce, Money & Property //Tags: alimony, Basic Allowance for Housing, child support, divorce, military divorce, support unconnected with dissolution of marriageby Adam B. Cordover, Attorney-at-Law

The following video from the Defense Management Travel Office describes Basic Allowance for Housing, or B.A.H.:

Servicemembers should know that Florida courts take B.A.H. into consideration when determining issues of child support and alimony. B.A.H. may even be taken into account for matters of spousal support unconnected with dissolution of marriage (such as when a military spouse is not being financially supported yet does not want to initiate a divorce).

If you have questions regarding military issues affecting your family and you wish to speak with a Florida family law attorney, you may schedule a consultation with The Law Firm of Adam B. Cordover, P.A., by calling us at (813) 443-0615 or filling out our contact form.

Equitable Distribution: How to Divide My IRA?

April 16, 2011/0 Comments/in Divorce, Money & Property, The House //Tags: divorce, equitable distribution, QDROby Adam B. Cordover, Attorney-at-Law

In a divorce proceeding, the court will divide the parties’ marital property and debts in a process called “equitable distribution.” The court starts with the presumption that property should be divided equally, but it may adjust the distribution based on various factors including (i) the relative economic circumstances of the parties, (ii) any interruption of personal careers or educational opportunities, and (iii) the intentional waste or destruction of assets.

Retirement accounts require special attention during the equitable distribution process. George Saenz at Fox Business News discusses this:

Not only are you getting separated from your spouse, but also your money. An individual retirement account, or IRA, belongs to the spouse that established it. You generally cannot transfer money from one spouse’s IRA to the other spouse’s account. An exception exists in the case of a divorce.

Read more →

Video: Divorce TV – Child Support Guidelines

March 26, 2011/0 Comments/in Child Support, Divorce //Tags: child support, divorceby Adam B. Cordover, Attorney-at-Law

The following video from Divorce TV discusses child support guidelines:

Keep in mind that each state’s child support guidelines are different. Florida’s child support guidelines are based on section 61.30, Florida Statutes.

If you have questions regarding child support and wish to set up a consultation with The Law Firm of Adam B. Cordover, P.A., call us at (813) 443-0615 or fill out our contact form.

Retroactive Child Support

March 17, 2011/0 Comments/in Child Support, Divorce, Money & Property //Tags: child support, divorce, paternityby Adam B. Cordover, Attorney-at-Law

Everyone knows that a Florida court can order a parent to pay child support up until the child is 18 years, or even beyond. But can a court order a parent to pay retroactive child support (child support that covers a period of time prior to the filing of a court action)?