Reviewing Prenuptial Postnuptial - Family Diplomacy | A Collaborative Law Firm

How We Review Your Prenuptial Or Postnuptial Agreement With You

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Your fiancé or spouse’s lawyer has provided you with a prenuptial agreement or postnuptial agreement, and it is a behemoth.  It is common for these documents to be 30 to 60 pages of dense “legalese,” sometimes with hundreds or thousands of pages of additional financial disclosure.  Don’t just sign the agreement without understanding it!  It can have a significant impact on your rights in the event of divorce or the death of your spouse.  Further, these documents are rarely “take it or leave it,” and you can negotiate terms that address your needs.

This post discusses how we review and negotiate prenuptial agreements and postnuptial agreements for our clients.

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Child Support In Florida - Family Diplomacy | A Collaborative Law Firm

Child Support in Florida

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Child support in Florida is the financial obligation aimed to provide a fair and consistent means of sharing the costs of raising a child between separated parents. There’s a Collaborative Law process that offers an alternative way to address child support matters. This approach emphasizes cooperation, open communication, and prioritizing your child’s well-being. In this post, we’ll take you through the fundamentals of child support in Florida and the benefits of pursuing child support solutions through the Collaborative Process.

CALCULATING CHILD SUPPORT

In Florida, you’ll find child support guidelines laid out in Florida Statutes §61.30. You’ll notice that the calculation takes into account key factors like your income and your partner’s income, the number of children involved, and the time each of you spends with them. It’s essential to understand that the state utilizes a specific formula incorporating these elements to calculate the exact amount of child support owed.  Though you may deviate from these calculations under certain circumstances, the child support guidelines determine the default amount you can expect to pay or be paid.

CONSIDERING YOUR INCOMES

Remember, both your incomes play a pivotal role in calculating child support. It’s worth noting that not all types of income are straightforward (for example, income from a private business). Additionally, it’s important to keep in mind that if either of you is voluntarily unemployed or not fully utilizing your earning capacity, income may be attributed to you based on your potential earning capacity.

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Florida Alimony Reform 2023

Florida Alimony Reform 2023: What is is and what does it mean?

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INTRODUCTION ON FLORIDA ALIMONY REFORM 2023

Florida alimony reform is here.  Our legislature passed, and the governor signed, a transformative overhaul to §61.08, Florida Statutes, commonly referred to as the Alimony Statute.  As of July 1, 2023, Florida has virtually eliminated new awards of permanent alimony, codified temporary alimony, and implemented limits to the length and amount of alimony a court could order.  The Alimony Statute now only refers to the following types of alimony (also known as spousal support or spousal maintenance): Temporary, Bridge-the-Gap, Rehabilitative, and Durational, each of which can be paid over time or in a lump sum. In this blog post, we explore each and highlight some of the recent significant changes.

Keep in mind that, though this is now the default law and limits what courts can order, spouses can always agree to do things differently through a private process such as Collaborative Divorce or mediation.

NEED AND ABILITY TO PAY

Before alimony can be awarded, a court must first determine whether one spouse has an actual financial need, and whether the other spouse has the ability to pay and meet that need. The burden is on the party requesting alimony to show both their need and the other party’s ability to pay.  Though determining need and ability to pay may seem straight forward, the issue becomes a lot murkier when one of the spouses has inconsistent income because they are a small business owner, executive with a unique compensation package, or a seasonal worker.

Additionally, though seemingly obvious, many people seeking alimony do not realize that the household income that once supported one home may now have to stretch and support two, and there may or may not be sufficient funds to cover both. It is with this in mind that the new statute considers an additional factor in analyzing need and ability to pay: the anticipated financial needs and necessities of life for each party after the divorce is over.

LENGTH OF MARRIAGE

There are many factors a court may take into consideration when determining an alimony award. However, one of the major changes is how the court measures the length of the marriage. Now, the Alimony Statute defines a short-term marriage as one that last less than 10 years, a moderate length marriage as 10 to 20 years, and a long-term marriage as exceeding 20 years. Traditionally, the length of marriage is measured from the date of marriage until the date of filing for divorce or another date as agreed upon by the spouses.  In a Collaborative Process, where many cases do not get filed until after a full resolution is reached, we tend to use a date listed in a Collaborative Participation Agreement in place of the date of filing.

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Bitcoin Divorce - Family Diplomacy | A Collaborative Law Firm

Divorce: Is Bitcoin a Marital Asset?

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Bitcoin has sure been in the news a lot lately.  The cryptocurrency, though volatile, has traded at over $50,000 in recent weeks.  Billionaires have publicized opposing views about Bitcoin, with Bill Gates warning investors to stay away while Elon Musk has sung its praise.  Regardless, more people seem to be getting on the Bitcoin bandwagon, and thus it is popping up more and more in divorce matters.

In fact, you may be wondering: Is Bitcoin a marital asset for purposes of divorce?

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Cordover Mosten - Family Diplomacy | A Collaborative Law Firm

Interview: Mosten on Peacemaker Practice Self Survey

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I recently had the opportunity to interview ADR legend Forrest “Woody” Mosten.  Woody has been on the forefront of Mediation and Collaborative Practice and is the founder of Unbundled Legal Services.  Woody also happens to be a friend and mentor of mine and my co-author of “Building A Successful Collaborative Family Law Practice” published by the American Bar Association in 2018.  You can find the video below.

You can find the Peacemaker Practice Self Survey reproduced below.

PEACEMAKER PRACTICE SELF-SURVEY

Forrest S. Mosten and Kevin Scudder[1]

Peacemaker Professionals are lawyers, mental health professionals, and financial professionals who deliver services to clients in a number of roles: Advisor, Information Provider, Organizer, Legal Counselor, Mediator, Evaluator, and other forms as service-provider.

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Marital House - Family Diplomacy | A Collaborative Law Firm

Divorce: Who Gets The House?

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If you are like most other individuals in Florida, your home is your most valuable marital asset. So if you are contemplating a divorce, one of your first questions will likely be, who gets the house, if anyone?

You may be concerned that your name is not listed on the deed of your marital home. However, in Florida, if you purchased the home during your marriage using marital funds, your home is presumed to be marital property, regardless of in whose name it is titled. This means that each spouse is entitled to half of the equity in the home (and responsible for half the loss if it has lost valued).

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Protecting Your Small Business - Family Diplomacy | A Collaborative Law Firm

Divorce: What Happens to My Small Business?

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You have worked hard to build your small business in Tampa Bay or Greater Sarasota.  Your dreams and future are intertwined with your company.  But, now, you are facing divorce, and you are worried about how this will affect your small business.  You know there are quite a few issues that you will have to deal with.  Child custody, division of property and debts, and child and spousal support all need to be addressed.

Small Business And Collaborative Divorce

Small Business & Collaborative Divorce

But what happens to your small business?

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Prenuptial Agreements for Same-Sex Couples

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In the aftermath of the turbulent election season, are you and your partner seeking to add stability to your lives by tying the knot?  Have you been in a long-term relationship and are now seeking to formalize and get legal recognition for it?

Major Alan G. Roger At Same - Family Diplomacy | A Collaborative Law Firm

You may want to consider getting a prenuptial agreement.  You and your partner may have a certain way of handling your finances.  Do you wish to keep certain funds separate to maintain a degree of independence?  Do you want to keep other funds joint for your mutual enjoyment?  Do you want to clarify which of your assets should be considered non-marital and which should be seen as common property?

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Protecting Your Small Business - Family Diplomacy | A Collaborative Law Firm

Protecting Your Tampa Bay Business With A Prenuptial Agreement

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Under Florida divorce law, businesses are subject to equitable distribution.  This essentially means that it can be considered a marital asset that is divided as part of the resolution of all divorce-related issues.

Small-business owners, who have shed blood, sweat, and tears for their endeavor, find it surprising and frightening that a business might be divided in divorce.  Further, this can be disruptive to the spouse of the small business owner; if the business begins failing due to protracted fighting or litigation, the spouse’s ability to receive alimony or child support is greatly reduced.

Protecting Your Small Business

One way to protect a business from the fallout of divorce is to enter into a prenuptial agreement or, if you are already married, into a postnuptial agreement.

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Collaborative Divorce and Small Businesses

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Divorce is one of life’s most difficult tests.  The stress that the traditional adversarial litigation divorce can have on employees cost business owners countless dollars every year.  Further, a private business is seen by Florida law as a potential marital asset, to be divided in divorce just like 401(k)’s, jewelry, or furniture.  When a business is put in the spotlight of a traditional courtroom divorce, Florida’s sunshine laws dictate that the remains of the business can be picked apart in detail by competitors sifting through a public court file.

Small Business &Amp; Collaborative Divorce Graphic

Collaborative family law (also known as collaborative divorce), by contrast, is non-adversarial.  The spouses’ attorneys are not seen as “opposing counsel,” but rather as teammates.  The clients themselves are not seen as “opposing parties,” but rather as co-parents or simply people looking to transition to the next stage of their lives.

Collaborative attorneys can only help the spouses reach an out-of-court settlement, so no time, money, or energy is spent on opposition research, dirty litigation tactics, or preparing for a costly trial.  This greatly reduces the stress on spouses and mitigates productivity losses.

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