Category Archives: Divorce
Many Florida divorce cases are resolved by a marital settlement agreement (MSA). This is a legally binding contract between the parties that addresses issues such as the division of marital assets and liabilities and whether either spouse is entitled to alimony. As with any contract, an MSA only exists when there is “mutual assent”… Read More »
Can the Equity in My Home Be Considered a “Marital Asset” Even if I Bought the Property Before Marriage?
One of the key tasks in a divorce case is the division of any marital assets. A “marital asset” refers to any property acquired during the marriage by either spouse. Conversely, this definition generally excludes any property acquired by either spouse before marriage. So let’s say you bought a car several years before getting… Read More »
In 2018, federal law made significant changes to the administration of the child tax credit. A parent may now claim a tax credit of up to $2,000 per child. If the parent owes no income tax, they can still claim a “refundable” tax credit of up to $1,400. Prior to 2018, individuals could claim… Read More »
When a Florida court decides cases involving alimony or child support, the judge may “impute” income to one of the parties. Basically, this means the judge assumes the party should have a certain amount of additional income, even if they do not. For example, if one spouse is capable of working but chooses not… Read More »
Does a Marital Settlement Agreement Override Florida Law Governing the “Cut-Off” Date for Classifying Marital Assets?
Under normal circumstances, Florida law imposes a “cut-off date” for classifying assets as marital or separate in a divorce case. That is, all assets acquired by either spouse after the cut-off date is not subject to equitable division by a judge. However, if the parties enter into a marital settlement agreement (MSA), they may… Read More »
A final divorce judgment does not always mean an immediate unwinding of a couple’s assets. For example, if two spouses jointly owned rental property or ran a business, the final settlement may need to include transitional provisions to address each party’s obligations after the divorce. Keep in mind, however, once a judge approves a… Read More »
In a contested divorce case, Florida judges have broad discretion to decide issues like parental timesharing and each party’s respective financial obligations towards the other. But this discretion is not absolute. Sometimes judges overstep their bounds and issue orders that are not permitted by law–and in some cases not even requested by either party…. Read More »
When negotiating a marital settlement agreement (MSA) as part of a divorce proceeding, it is important to pay attention to certain critical details, especially with respect to issues affecting child support. For example, the parents need to decide which one of them will be responsible for maintaining health insurance coverage for the child. And… Read More »
A key issue in any Florida divorce case is the division of marital property. By law a court is required to make an “equitable division” of marital property unless the parties reach a voluntary agreement on how to split these assets. But this raises another critical question: How does a court distinguish marital and… Read More »
Whether a divorce is resolved by a voluntary settlement agreement or contested litigation, it is important for each side to fully and accurately disclose their finances to the other. Financial disclosure is key to resolving issues such as alimony, child support, and the overall division of marital property. If either spouse fails to accurately… Read More »