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Broward County Divorce Law Blog

Florida Supreme Court rules against prenuptial agreement in case

A prenuptial agreement is a good idea for people of all backgrounds. It helps protect you from your partner's debts and keeps certain things you own as your own if you go through a divorce.

One thing to keep in mind is what happens to properties during your marriage. While a prenuptial agreement may state that you keep your preowned properties following a divorce, there are sometimes loopholes that can allow a spouse to seek properties or their values during settlement negotiations.

The Uniform Child Custody Act protects your court orders

You want to know that your child custody order is upheld no matter where you travel. If your ex takes your child out of state, you want to know no other court can reverse the decision of the judge in your home state. The Uniform Child Custody Act supports you in this regard.

What is the Uniform Child Custody Act?

Alimony changes could influence your divorce in Florida

Alimony reform has long been on the minds of those in Florida, and now there is a bill that the governor may actually sign. According to a March 24 report, Senate Bill 412 may be the bill needed to get reform.

The bill itself states that a court may not use presumptive alimony guidelines to calculate alimony. That means that the duration of a marriage may no longer play a role in how much alimony a person gets. The bill also makes sure to clarify that the total amount of alimony awarded combined with child support may not equal more than a specified percentage of the payor's net income.

What should you do to prepare for divorce?

To get through a divorce more easily, it's important to get copies of your records. You may have a better chance of making copies and collecting these records if you get them before you state that you want to file for divorce. Sometimes, spouses who are angry may change passwords or card information, making it hard to get access to the things you need for the divorce. You should get copies of credit card statements, annuities, retirement accounts, business accounts and other financial items that impact your divorce.

Another thing to get a copy of is a credit application. The credit application has important information like your income and the income your spouse brings in, your shared assets and your shared liabilities. This is a good source of information when you need to show the courts your marital property. It could even reveal property that you didn't know your spouse had purchased.

High-asset divorces: There are many factors to consider

No divorce is fun to go through, and when there are thousands upon thousands of dollars of assets on the line, it can become incredibly difficult to negotiate. If neither side wants to compromise, a high-asset divorce quickly becomes a long, drawn-out affair. Fortunately, there are ways to get the most out of a high-asset divorce, so you can move on with your life with the assets you deserve.

One of the first things you should do is to call a valuation expert. You need to know the true value of your assets before you can negotiate. Your spouse may want to call his own expert in, and that's fine. You can compare the values they come up with and average them, or you can work with a third to see which values seem correct.

What should you think about before signing a divorce decree?

No divorce is perfect, and no divorce is without its complications. You have to sever ties with your spouse, and that might also mean losing friends or alienating family members. Despite all that, you must continue and work toward dividing your assets. This helps secure your financial future.

There are several things you can do to go through the divorce process more easily. For example, reviewing your expenses and financial obligations is helpful. Before you ever sign a divorce decree, make sure you know how much money you have, will have and need to be secure. Know your income sources and calculate your new expenses. Although you may have had a budget before, you need to recalculate how much everything costs when you live on your own.

The Hague Convention protects you and your children

As a parent, one of the worst feelings is knowing you can't reach out to your children or tuck them in at night because someone took them from you against your wishes. This is the reality for some parents who are victims of parental kidnapping.

In a case of parental kidnapping, a parent takes his or her children out of the custody of the other parent without permission. It goes against court orders and is illegal in the majority of cases.

These mistakes can make a divorce harder on you in the future

Divorces are hard for anyone, but when thousands, hundreds of thousands, millions or even billions of dollars in assets are at risk, your divorce is of particular importance to you. Splitting your assets isn't just about maintaining your standard of living, it's about keeping what you worked hard for.

With a high-asset divorce, it's important to work with a legal professional, because there are many documents that have to be produced. An accountant may be necessary to show how much investments have grown or to prove how much you earn each year. If you have a prenuptial or postnuptial agreement, it will help you show how you and your partner decided to split your assets. If not, then it's time to work together to decide on an outcome you can both live with.

Men: Here's a few tips for handling your finances during divorce

Men who are going through a divorce might think they're biased against in court, but fortunately, that's not the case. There are many things you can do to help make this divorce go smoothly and work out in your favor. Yes, divorce is a challenge and it can be complicated for everyone involved, but there are steps you can take to make sure you're prepared.

For example, making sure you know how much divorces can cost could help you prepare financially. It's not uncommon for an average divorce to cost $20,000, but the cost does vary significantly depending on a variety of factors. For instance, if you need experts like counselors or forensic accountants to help you with the divorce, it's likely to cost more than if you don't.

What are some unusual marital assets to look for?

No one plans to get a divorce, but since you're going to move forward with yours, it's time to start locating your assets. How can you find all of your marital assets? The first thing to do is to recognize that there are some you might not even be thinking about. Normal assets like property or bank accounts may seem obvious, but others, like old retirement accounts or investments, may not be as easy to locate. Here are a few assets you should remember to look for, even if you're not sure if you or your spouse have them.

Capital loss carryovers are a huge money-saver for your taxes, so check last year's return to see what deduction you can take. If a capital loss took place during your marriage, the loss, which reduces your tax liability, should be addressed in your divorce settlement directly.