Any type of divorce can bring a great deal of stress as the couple attempts to sort out disagreements on various important issues. When children are in the picture, parents need to handle the ordinary challenges of divorce while maintaining a focus on how every step affects their kids.
Mediation and other types of collaborative law can yield benefits for many types of families undergoing divorce. Approaching the process collaboratively can also help the process go smoother for children.
The concept of a premarital contract has been around for centuries, especially among the wealthy and well-connected families. However, the millennial generation has been credited for changing many traditions including marriage. They are living proof that prenuptial agreements can be as unique as the parties involved. Since these contracts are increasing in popularity, Florida residents may be interested in learning more about the protections they can offer.
When one hears of a prenuptial agreement, it it often assumed that the parties involved are either celebrities or have significant assets to protect. In reality, almost any couple can employ these contracts for a variety of reasons, including the protection of a business or even intellectual property. There are many individuals who have nurtured the idea of setting up a business and want to ensure that they do not lose sight of their dreams and hard work simply because a marriage did not work out.
As another year winds down and children look forward to the holiday seasons, not every family is focused on upholding family traditions. Instead, there may be many Florida families who are preparing for a divorce with all of the anticipated work and stress that often accompanies the process. For those whose circumstances allow, a collaborative law divorce may help ease the some of the stress for all of the parties involved.
Parents who are divorcing have many concerns about how the process will impact their children, both now and in the future. In addition, they also worry about their financial stability once the final decree has been granted. However, some of these concerns may be relieved through the support of a collaborative approach. This type of dissolution involves several team members who each can provide specialized guidance and information that can help both spouses and children deal with the effects of the divorce.
The hard work and effort that one puts into building a business is often hard to measure concretely. However, when a business owner finds him- or herself facing a high asset divorce, having a solid plan in place can preserve the company's future. Florida residents who are preparing to file a divorce petition have some tools that may help safeguard their business.
One of the first tools is a prenuptial agreement. Though these contracts used to be common only among the wealthiest, or celebrities, they have become more mainstream. In the event that a spouse has worked to build a business before marriage, a prenup can ensure that the other spouse can be compensated with other assets while protecting a company's future. If a business was started after a marriage, the parties may be able to enter into a postnuptial agreement that spells out how each party can be accommodated without having to dismantle the company.
The prospect of freedom from a bad marriage can lead the former spouses to make impulsive decisions that can result in long-lasting financial problems. Clear thinking during property division and afterward can avoid common mistakes. Florida residents facing a dissolution may benefit from the assistance of experienced professionals.
In many situations, spouses may fight over the ownership of a home. If the property has been owned for some time and has accumulated value, it may make financial sense for one spouse to retain ownership. However, if the home has negative equity or will be a financial hardship to maintain, it may be a fiscally sound decision to sell it. Likewise, if an IRA account will be divided in a divorce, choosing to roll over the portion into a separate IRA account can avoid costly tax consequences and penalties.
On average, an estimated 4,000 divorces are filed every day in this country. Many of these marriages had lasted for years and included an unequal income ratio between the spouses. While states have set guidelines concerning how much alimony should be awarded, the majority, including Florida, do not have an online calculator to help spouses determine an equitable amount.
There are tools that can be used to help couples work through how much alimony might allow both former partners to maintain a lifestyle to which they had become accustomed. Thirteen states offer online calculators to help determine what may be a reasonable amount to make up the difference once the divorce is finalized. Unfortunately, it appears that these calculators are not as accurate as other tools when trying to assess the amount needed to fill the gap between unequal salaries.
The prospect of filing for a divorce may conjure images of cold courtrooms, harried judges and warring spouses. However, recently there has been an effort to revise the approach that many couples take when choosing to end a potentially unhappy marriage. Collaborative law divorces may allow Florida residents an opportunity to untie the knot without becoming completely undone emotionally and financially.
Several celebrity couples have publicly advocated for a less hostile ending of a marriage for the sake of their children and their own emotional well-being. In many situations, a couple may be ideal candidates for seeking a divorce through a form of mediation. This approach to divorce is moderated by a neutral mediator who helps a couple work through the details of their dissolution without the animosity that may accompany the end of a relationship.
If you and your spouse have decided to end your marriage, do you assume that a traditional court proceeding is your only option? How will litigation affect your family both now and in the future?
You do have an option in collaborative divorce that might be the best solution for the good of your family going forward.
The hard work that one invests into growing a successful enterprise may be one of the most satisfying experiences in life. If a divorce were to threaten the success of this business, the business owner could be left with little more than shattered dreams. There are steps that Florida residents can take to protect a business in the event of a high asset divorce.
There have been many individuals who have lost all they worked after a dissolution. Instead of suffering such a fate, one can take steps before a marriage to ensure that a business survives in spite of a failed relationship. Those who have worked to start a company are urged to enter into a prenuptial agreement with the intended spouse. Such an agreement can stipulate that the company and its assets will remain in the hands of the original owner if the marriage should end.
Every family is unique in its own way, and no one solution will work for every problem. The same is true when it comes to a divorce. Though most Florida residents may imagine a court room setting for their impending divorce, a collaborative law approach may actually be a better fit.
There are four general categories of divorce. The first one is referred to as a do-it-yourself divorce, which is seldom appropriate except in only a handful of scenarios. The second option, mediation, has the potential to result in an unsatisfactory ending. Mediation requires negotiation and cooperation, which many divorcing couples may not excel at, especially if one party has been the domineering factor in the marriage. The more submissive spouse may wind up agreeing to an unfair settlement rather than assert him- or herself during the process.
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Sheldon E. Finman, P.A.
2134 McGregor Boulevard
Fort Myers,
FL
33901
Toll Free:
877-214-3207
Phone:
239-332-4543
Fax:
239-334-7828
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