It doesn't matter whether you live in an equitable distribution state like Florida or in the small handful of states that follow the community property approach in a divorce. Inheritance is almost always considered property that solely belongs to just one spouse. However, there are some missteps you can make that may cause your inheritance to be considered joint property with your spouse.
A recent survey conducted by Bank of America shows that 28% of married Millennials avoid setting up joint bank accounts with their new spouses. They're instead keeping their finances separate. Some financial analysts think that they're doing that to protect their money in case they end up getting divorced. What many of them don't realize is that doing so doesn't keep their spouse from laying claim to their money, though.
If you're considering getting divorced, then you've likely done some digging around to find out what happens to your assets when you split up. You may not have stopped to think about what happens with your debts though. Your Kissimmee judges split them up among the two of you judt like any other assets you two share. Student loans are included in this.
Data published by the American Psychological Association shows that as many as 50% of married couples end up getting divorced. This motivates many financial planners to tell their female clients to get their money matters in order as soon as their spouses threaten to divorce them.
Any assets that are either shared or acquired during a marriage are considered to be marital property. The way that they are divided up during a divorce depends on where the couple lives. In Florida, all marital property is divided up via a procedure called "equitable distribution". This means that a judge takes into account each spouse's assets and needs when dividing up the shared property, rather than merely dividing it all equally.
Studies published in recent years have shown that Americans are getting married later in life than they used to. Some may wonder if they're doing this to protect themselves from being stripped of their valuable assets such as a business if they get divorced.
Many issues can cause conflict when a couple is headed for divorce. Child custody and support, alimony and the division of property are some of those issues. If you've lived in your home for some time, the decision about what will happen to the house and who will keep living in it can be hotly contested.
Just a few weeks ago, news of Amazon founder Jeff Bezos' adultery made national news. Soon thereafter, it came out that his wife was seeking a divorce. Although they reside out west, their split caused many individuals here in Florida to ask what impact does adultery have on requesting and settling a divorce. The truth is that it has very little impact on either.
Of all the months out of the year, January is often the one in which Americans decide to file for divorce in more significant numbers than the rest. They're often motivated to keep up appearances and make it look like their marriage is happy and healthy as a way of not ruining others' holidays in November and December. As divorce rates have doubled among seniors ages 50 and over in recent years, this is something that they do as well.
The older your kids get, the more likely it is that you're becoming more nervous about how you're going to pay for their college, especially if you haven't been saving along the way. Parents who are facing a divorce are likely to face even more uncertainty about how to get their kids through school.