Tag Archive for: high asset divorce Florida

How Does Alimony Work - Family Diplomacy | A Collaborative Law Firm

Divorce 101: How Does Alimony Work in a Florida Divorce?

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Key Takeaways

  • Florida alimony is based primarily on two questions: whether one spouse has a need for support and whether the other spouse has the ability to pay.
  • Florida law also considers factors such as the length of the marriage, the marital standard of living, each spouse’s contributions, and future earning ability.
  • Florida now has statutory limits on the maximum duration and amount of alimony a court may order.
  • In a traditional divorce, a judge decides alimony after a public fight. In a Collaborative Divorce, you and your spouse can create a customized support plan that better fits your family’s needs in a private setting.

Introduction

If you’re wondering how alimony works in a Florida divorce, you’re not alone. Alimony is one of the most misunderstood aspects of divorce, and many people are surprised to learn that there is no simple formula that guarantees what someone will pay or receive.

In the video below, Florida Collaborative Divorce attorney Adam B. Cordover explains how Florida courts evaluate alimony, the statutory limits that may apply, and why many couples choose the Collaborative Divorce process to create support arrangements that better fit their lives.

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Florida Records Public - Family Diplomacy | A Collaborative Law Firm

Are Florida Divorce Records Public? How Your Divorce Lawyer Could Be Exposing Your Financial Information to Competitors.

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Key Takeaways

  • Yes. Generally speaking, divorce records and financial information filed in a traditional Florida Divorce, including financial affidavits, become part of the public court file.
  • Business owners, physicians, executives, lawyers, and other professionals should carefully consider whether public financial disclosures could expose sensitive business information to competitors, clients, employees, vendors, or investors.
  • Done correctly, Collaborative Divorce is designed to maximize privacy by keeping negotiations confidential and minimizing what gets filed in the public record while promoting complete financial transparency between the spouses.
  • In a Collaborative Divorce, spouses generally still have to exchange financial affidavits, but they can choose to keep it out of the public court file.
  • Other ways that Collaborative Divorce helps maintain financial discretion include filing far away from where the spouses live or work and choosing the county with the best privacy options.

Can Your Competitors See Your Financial Information During a Florida Divorce?

If you are an executive or own a business, a medical practice, a law firm, or another successful company, one of the biggest risks in a traditional Florida Divorce may have nothing to do with who gets what. It may be that your lawyer is preparing your case for trial instead of preparing it for resolution, and in the process, your private financial information could end up in the public divorce records.

Most people assume that divorce is a private matter. They are often surprised to learn that, in almost every Florida Divorce, each spouse must complete a financial affidavit listing their income, expenses, assets, and debts. Generally, in traditional divorce cases, that affidavit is filed with the court, where your divorce records become available to anyone who wants to read it.

If you have spent years building your business and your reputation, that should concern you.

Imagine a competitor learning how much income your business generates. Imagine a prospective client finding details about your personal finances. Imagine employees, vendors, or future business partners accessing information that was never intended for public view.

For entrepreneurs, executives, physicians, lawyers, and other professionals, privacy is not just a personal preference. It is part of protecting the business you worked so hard to build.

Quick Answer

Yes, in most Florida Divorce cases, sensitive financial information becomes part of your public divorce records through the filing of financial affidavit and other documents. If privacy matters to you, choosing the right divorce lawyer and divorce process from the very beginning can make a significant difference.

Collaborative Divorce takes a fundamentally different approach. Rather than preparing every case for the possibility of litigation, the process is designed to help spouses reach an informed agreement outside of court while protecting confidentiality and sensitive information whenever possible.

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A Guide For Tampa Owners - Family Diplomacy | A Collaborative Law Firm

Divorce Without Destroying Your Business: A Tampa Bay Guide for Owners

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Protecting Your Small Business in a Tampa Bay Divorce

If you built a business in Tampa, St. Petersburg, Sarasota, or elsewhere in Florida, it likely represents more than income. It reflects years of effort, risk, and identity. When divorce enters the picture, the fear of losing control of that business can feel overwhelming. You may worry about public court filings, forced valuations, or a judge who does not understand how your company actually works.

You are not wrong to worry. Traditional divorce litigation often puts small businesses at risk. Fortunately, there is a better way.

Quick Answer

You can protect your small business in a Tampa Bay divorce by using Collaborative Divorce, which keeps negotiations private, avoids court-imposed decisions, and allows tailored solutions that preserve business operations and long-term value.

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Divorce Statute 1 - Family Diplomacy | A Collaborative Law Firm

Does Florida’s Collaborative Divorce Statute Protect Confidentiality?

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When you face divorce in Florida, you may worry that your financial information, business details, or parenting struggles could become part of a public court file. If you or your spouse are a doctor, lawyer, executive, business owner, or anyone who values privacy, the idea of those details becoming public can feel overwhelming. You want a process that keeps your information protected and puts you, not a judge, in control.

Collaborative Divorce offers that protection. One of the most common questions clients ask is whether Florida’s Collaborative Law statute truly protects confidentiality.

Quick Answer

Yes. Florida’s Collaborative Divorce Statute (specifically, Fla. Stat. §61.58) protects confidentiality by, with narrow exceptions, keeping Collaborative communications private and preventing them from being used in court. The statute also protects nonparty participants (for example, a Neutral Financial Professional or Neutral Facilitator) so the professional team can help you make informed decisions without fear that exploratory discussions meant for informal discussions will later become evidence in a trial.

Key Takeaways

  • Collaborative communications are confidential and generally cannot be used against you in court.
  • The confidentiality and privilege belongs to the spouses and, in certain instances, nonparty participants.
  • Neutral Financial Professionals and Neutral Facilitators are nonparty participants who receive protections so they can work freely and creatively.
  • Fla. Stat. §61.58 has narrow exceptions, such as threats of harm or information that must be reported under other laws.
  • The process supports open problem-solving and protects privacy, which can be especially helpful for high-asset families.

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Portability Benefit - Family Diplomacy | A Collaborative Law Firm

Florida’s Save Our Homes Portability Benefit and Divorce: Is it a Marital Asset?

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If you are going through a Florida divorce, you may worry about how to protect your home, your long-term tax burdens, and your financial stability. Many high-income professionals focus on dividing the home itself, but Florida’s Save Our Homes Portability Benefit also carries real value. If you have established a homestead in Tampa, St. Petersburg, Sarasota, or elsewhere in Florida, this benefit can reduce your future property taxes, yet it is often overlooked during divorce. When you understand how it works, you can make better decisions and avoid losing tax advantages that could protect your financial future.

Quick Answer: Is Florida’s Save Our Homes Portability Benefit a Marital Asset?

Yes. Florida’s Save Our Homes Portability Benefit is usually treated as a marital asset because it grows during the marriage and can reduce future property taxes for one or both spouses. It has a value that can be taken into consideration when reaching a divorce agreement.

Key Takeaways

What the Save Our Homes Portability Benefit Actually Is

Florida’s Save Our Homes law limits how fast your homestead’s assessed value can rise. Even when the market value increases sharply, the assessed value can only increase by 3% or the Consumer Price Index, whichever is lower. This creates a gap between market value and assessed value, known as the assessment difference. Over time, this difference becomes meaningful because it reduces your property taxes year after year.

Portability allows you to take up to $500,000 of that assessment difference with you when you establish a new Florida homestead. This lower starting assessment can reduce your taxes for many years, especially if you plan to stay in your new home long-term.

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