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Kissimmee Florida Divorce Law Blog

Florida among minority states that still have permanent alimony

After years of marriage and raising your family, you and your spouse made plans to retire in Florida. It's a popular location for post-career living. Perhaps, you weren't very far into that journey when you realized your marriage was no longer sustainable. You'd had problems when your kids were growing up, but you decided it was more important at the time to provide a stable environment for them, so you overlooked the problem issues and persevered.  

Now that your children are grown, you have more time to focus on your own needs. The problem is that you gave up your career when you had your first baby and as the next several children arrived, you kept reaffirming your decision to be a stay-at-home parent. Since you've been considering filing for divorce, you've also begun to wonder how you make ends meet if you do so, since you have always been dependent upon your spouse's income.  

Student loan payments count as alimony, says one tax judge

Once the Tax Cuts and Jobs Act (TCJA) fully goes into effect on Jan. 1, 2019, any spouse paying alimony will no longer be able to deduct it on their taxes as they have in the past. Recipient spouses will also no longer have to claim the monies that they receive as income. A recent case brought in front of the tax court on Sept. 5 perhaps set a new precedent for what's considered as alimony.

The case Vanderhal, TC Summ. Op. 2018-41 centers around a California couple who divorced in 2011. In the divorce decree, the couple agreed to an equitable split of all assets and debts. One item listed on that list was a Sallie Mae student loan that the husband's ex-wife had taken out.

There are many ways to divorce-proof your business

Although a divorce rate in excess of 50 percent would motivate many to sign a prenuptial agreement before they marry to protect their assets, many are "hopeless romantics" who take their chances without them. Even if they have one, it may not protect future businesses that are set up after the couple marries.

Even if a spouse has a prenup, they may not be aware that any business profits that they invest in a joint bank account may invalidate it. This may make them at risk of having to split ownership rights in it with their ex if they ever do divorce.

Jacksonville's divorce rates continue to decline year after year

Divorce rates in Duval County declined by 28 percent between 2015 and 2017. This significant reduction in couples calling it quits in greater Jacksonville has resulted in other Florida city leaders asking what their magic potion is.

Researchers with Live to Life have recently looked into it. What the religious nonprofit's researchers determined is that it may have something to do with grassroots efforts to strengthen marriages.

What does business valuation mean for your divorce?

Divorce will bring significant financial changes to people, particularly those who own small businesses. Any type of business could be a marital asset, which means that couples must address it in the divorce settlement. There are various ways to deal with a business during divorce, but an important aspect of this is an accurate business valuation.

The true value of a Florida business could have a significant impact on your divorce. Depending on your individual situation, it could be most prudent to sell or negotiate with your spouse for sole ownership of the business. Knowing how much your business is truly worth will help you make smart decisions regarding your financial future. 

How do we split up the Florida timeshare when we divorce?

States like Hawaii, Nevada, Florida and California are where the largest majority of the country's timeshares are located. If you've decided to walk away from your marriage, then you may be wondering what to do with your timeshare when it comes time to divide up the marital property among yourselves.

County officials in Florida keep track of timeshare ownership just like they would with any other real estate in the state. As such, any change in hands of a timeshare must be recorded by the county where it's owned. Once that occurs, it's updated in a publicly accessible database.

A new Florida alimony law is approaching quickly

Time is running out for couples looking to finalize their divorces before new alimony law goes into effect on January 1, 2019. Once it does, the paying spouse will no longer be able to use the amount that they pay as a deduction on their taxes. The recipient ex-husband or wife will no longer have to pay taxes on payments received anymore either.

For decades, the aforementioned tax policy has been the norm for how spousal support payments are handled by the Internal Revenue Service (IRS).

Could a partner's depression lead to a divorce?

Many Americans suffer from clinical depression. This is more than mere malaise or a vague sense that they should be happier than they actually are. Clinical depression can manifest in many ways, and if you are the one living with a depressed spouse, you may have considered divorce as an option.

After all, being surrounded by doom and gloom all the time is hardly conducive to a healthy relationship. Sometimes depressed spouses behave in ways that are incompatible with a solid marriage. In an effort to put some pep back into their step, they may flirt with others or even have full-blown affairs. Alternatively, their depression may become so crippling that they take to their beds and quit working.

Children of divorced parents tend to steer clear of college

Researchers working on a new study at Iowa State University say that children who have parents who divorce are far less likely to receive a bachelor's or graduate degrees than their peers who have married parents.

To make this determination, researchers started by analyzing data collected in the 1997 National Longitudinal Survey of Youth. They then followed the data for the youth as they completed school and moved into adulthood. The last bit of data collected about these individuals was when they were 26 to 32-years-old.

What does a judge consider when dividing up property in Florida?

Although many states rely upon equitable distribution rules for dividing up property in a divorce, each one also has certain limits that affect the decisions that judges ultimately can make. Even in Florida where such laws are uniform throughout the state, it still may be possible for there to be some degree of variance in how property is split up as the decision is ultimately left up to a judge.

A judge in an equitable distribution state is charged with dividing property between the spouses fairly. To do this, they must consider a number of different factors.

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