Your home is your anchor, the place you return after work to be with your family, to unwind, and to rest. Or maybe it's not that at all. If your relationship with your spouse has gone cold - worse, if home is a hostile and toxic environment - home is the last place you want to be.
If you can get over the rather negative connotation - "gray divorce" - you realize it's a useful term, at least in reference to the unique issues people confront when facing divorce at an older age.
Many Florida residents who have never experienced divorce know very little about the state's marital property laws. In an imminent divorce situation, this lack of knowledge can be a detriment, meaning those who have made the decision to split will want to learn about marital property division early on. A saving grace in many cases is that a divorce attorney can fill in any missing blanks to enhance a divorcing couple's growing knowledge about marital property law.
If you are preparing to divorce in Florida, you will necessarily go through the division of your marital property. In Florida, assets are deemed as either marital or nonmarital property. Marital property will be divided equitably between spouses, while separate property will remain the property of the spouse who brought it into the marriage.
Many couples that divorce in Florida are unable to reach an agreement about property division outside of court. If a judge must determine how to divide marital assets between two spouses, the judge does so according to the principle of equitable distribution that is followed in Florida and in the majority of other states. Equitable distribution means that marital property is divided fairly, but not necessarily equally.
Florida residents considering divorce may be concerned about how property is divided. In Florida, property is divided equitably between the spouses. There are two types of property in matters of divorce. Marital property is that which is acquired during the marriage. Separate property is the property individuals own before they marry. Marital property is divided in divorce, and separate property is not.
Determining who gets the marital home is often one of the most contentious issues in a Florida divorce. If there are children involved, a court will normally allow the spouse who has physical custody of the children to keep the home. When a couple with no minor children divorces, a judge's decision about who gets the house might be more difficult.
In a Florida divorce, judges follow the principles of equitable distribution in dividing the marital assets and debts between the spouses. Each person keeps all non-marital assets, including property he or she owned prior to the marriage, any inheritance left to him or her, personal injury lawsuit proceeds, gifts made to one spouse by a third party and any property that has been deemed non-marital through a written or prenuptial agreement.
Florida readers are likely familiar with high-profile couple, Michael Moore and Kathleen Glynn. Moore is known for his activist documentaries, such as Farenheit 9/11 and Bowling for Columbine. Glynn, his wife of 23 years, produced several of the documentaries.
Many couples who are pursuing a divorce in Florida may need to consider how taxes might affect the process. Divorce renders one legal entity, the married couple, into two separate individuals. This has direct effects on annual tax returns, and the taxes levied against certain assets after the divorce is finalized might influence how couple distributes their assets during the property division process.