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March 2014 Archives

FL couples face challenges in divorce with division of assets

When a Florida couple files for divorce, the end of their marriage results in the need to divide their marital assets in an equitable fashion as allowed under the law. In some marriages, property division is fairly straightforward and simple, such as if only a home is owned by the couple. However, the division of assets becomes more complicated when the couple owns stocks.

Former OMB director Peter Orszag in child support dispute 

Single parents in Florida that may get involved in child support disagreements may want to review details of a dispute that involves the former director of the Office of Management and Budget for the White House. After leaving public service, Peter Orszag became a high-ranking executive with Citigroup in 2011.

Billionaire to keep controlling interest in his oil company

Floridians who pay attention to Forbes' list of Global Billionaires may be familiar with Harold Hamm, founder of Continental Resources and number 68 on the list. Hamm made the news recently when an Oklahoma District Court Judge ruled in Hamm's favor in his divorce proceedings. The divorce filings for Hamm and his wife became public last year, and the trial phase of the divorce is expected to begin in July. As is the case in most high net worth divorces, Hamm stood to lose a lot of money depending on what the judge considered to be marital property and pre-marital property.

The effects of cohabitation on alimony

Florida residents may be interested in the way cohabitation affects alimony. When a couple divorces, one spouse may pay alimony to the other for sustenance and to help them become self-sufficient. Spousal support may be limited or it may continue until the spouse receiving alimony remarries. However, cohabitation without remarriage may occur and in this case alimony does not necessarily stop.

Changing dynamics in families

A push for shared parenting has resulted in an unprecedented change, with more Florida fathers are becoming single parents. During the last several decades, courts have made decisions regarding custody by considering the best interests of the child, which has resulted in a disproportionate number of custody decisions favoring the mothers. However, as more fathers push for joint custody, more mothers have decided to give up their portion of custody.