Tag Archive for: equitable distribution

Video: Divorce Sale

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After a spouse gets a divorce, he or she may find it therapeutic on the mind and wallet to purge many of the items equitably distributed to him or her:

Keep in mind that (unless you are in agreement with the other spouse or have an order from the court) you should wait until the divorce is final prior to selling your items.  Otherwise, you may be accused of wasting or attempting to hide assets that would otherwise be eligible for the judge to split up during the equitable distribution phase of your case.

If you have questions regarding the division of assets and liabilities and you are seeking to hire a Tampa Bay divorce lawyer, contact The Law Firm of Adam B. Cordover, P.A., at (813) 443-0615 or fill out our online form.

New York Recognizes Gay Marriage. Do Floridians Have Options?

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Beginning July 24, 2011, gay couples in New York will be able to apply for a marriage license.  This will make New York the sixth and largest state to recognize gay marriage.

Florida, unlike New York, does not permit gay marriage, nor does it recognize civil unions.  But there are things that partners can do to symbolize their love for one another and create certain rights and responsibilities.  You just have to be creative.

Let me give you an example.  One of the services that my firm offers is that we represent clients in name change matters.  I have heard all different reasons why a client wants a name change, including that he or she (a) has done some things he or she is not proud of and wants to turn a new leaf, (b) wants to take on the qualities of a religious or historical figure by taking on part of that figure’s name, and (c) simply does not like his or her name.

One day, a young woman came in for a consultation, and she had a touching story to tell me.  She said that she had been dating her partner for several years, and that they wanted to get married.  But, of course, Florida does not permit gay marriage.  However, this woman decided to declare her love and commitment by legally taking on her partner’s last name.  I was able to guide her through the judicial process of symbolically affirming her dedication to her partner through a name change.

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Word Cloud: Mandatory Disclosure

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In my continued quest to literally visualize statutes and rules related to Florida family law, I created the following word cloud of Florida Family Law Rule of Procedure 12.285 (Mandatory Disclosure) using Wordle:

Mandatory Disclosure Word CloudThough this word cloud makes Mandatory Disclosure seem like it belongs in discussion held at a TexMex-themed cocktail party, the fact is that the exchange of certain financial information is crucial to move along most family law matters (including divorce, paternity, child support, alimony, support unconnected with divorce, and modification of financial issues).  To that point, a court will not grant a final judgment in most cases unless financial affidavits have been exchanged and each party has filed and exchanged a certificate of compliance with mandatory disclosure.

What do you think of the mandatory disclosure word cloud?  Feel free to leave a comment below.

Otherwise, if you would like to schedule a consultation with a Florida Family Law Lawyer, call The Law Firm of Adam B. Cordover, P.A. at (813) 443-0615 or fill out our contact form at http://www.familydiplomacy.com/contact-us.

Equitable Distribution: How to Divide My IRA?

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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.

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Equitable Distribution: What Happens To Pets When People Divorce?

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In Florida, a family law court is authorized to divide spouses’ marital assets and liabilities as part of a divorce.  This is known as equitable distribution.

A dog or cat adopted during the marriage would be considered a “marital asset” to be distributed.  A court will either ratify an agreement on the pet, or determine how to distribute the pet based on the factors laid out in section 61.075, Florida Statutes.

Interestingly enough, the legislature of Maryland is considering a bill that would treat animals more like children.  From the Washington Examiner:

Essentially, the law gives the court the power to issue a custody agreement for pets. While it may seem a little silly on the surface, to couples who don’t have kids, pets are the next-best thing. And — especially if it’s a bitter divorce — they’ll fight tooth and nail over them.

Here’s what the proposed law would allow the court to do:

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Divorce: Protecting Your Credit Score

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An article from consumer website WalletPop.com discusses ways to protect your credit score as you go through a divorce.  The following issues (from both the article and my experience) should be addressed in any marital settlement agreement and/or final judgment:

  • Closing of joint credit card accounts;
  • Closing of joint charge accounts, such as J.C. Penneys or Macy’s;

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Special Issues in Military Divorce

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If you are in a family law matter involving a servicemember, you will encounter some unique issues to which you must pay special attention.

Residency Requirement

Generally, one party to a divorce must have been a resident of Florida for at least six months prior to filing.  However, there is an exception for servicemembers.  A servicemember (or his or her spouse) who is not currently in Florida may petition for divorce in Florida if he or she (i) was a Florida resident prior to entering the military and (ii) never established a permanent residence elsewhere.  Even if the military member had not lived in Florida prior to entering the service, he or she may still be able to file for divorce in Florida if he or she is deployed but has an intent to remain a permanent Florida resident.  Such intent may be evidenced by the following: (i) Florida voter registration; (ii) ownership of a Florida home; or (iii) registration of a vehicle in Florida.

Servicemembers Civil Relief Act

Many of the military issues in a divorce stem from the Servicemembers Civil Relief Act (the “SCRA”).  The SCRA was signed into law in 2003 and updated and replaced the Soldiers and Sailors’ Civil Relief Act of 1940.  Most provisions of the SCRA apply to the following people on active duty:  (i) members of the Army, Navy, Air Force, Marine Corps, and Coast Guards; (ii) members of the National Guard; and (iii) commissioned officers of the Public Health Service and National Oceanic and Atmospheric Administration.

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Video: Professor Atwood Discusses Changes in Family Law Part 1

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Barbara Atwood of the University of Arizona discusses how family law has changed in this video from Divorce TV:

 

Video: Reducing the Costs of Your Divorce

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The following video from eHow describes how spouses may reduce the costs of their divorce:

Parties should utilize alternative dispute resolution techniques such as mediation to help them reach agreements and reduce time and expense.

Section 61.541, Florida Statutes

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Application and construction.—

In applying and construing this part, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it.

History.—s. 5, ch. 2002-65.