The number of "gray" divorces has continued to climb. Unfortunately, the costs of dissolving a marriage later in life can be a significant factor in the decision to file a petition for divorce. Though Florida residents who are preparing for a divorce after a lengthy marriage may worry about the costs, there are ways to reduce the expense, including choosing a collaborative law approach.
Last year, changes were made to the Internal Revenue Code, some of which took effect in 2019. One of the most debated changes involves alimony tax rules. Now that the changes are in place, Florida residents may be in for a few surprises when they file their 2019 taxes next year.
When a marriage ends, one of the most difficult tasks is deciding how to divide marital assets. In the past, the majority of couples would choose to pool their assets once they married in order to meet their shared goals as a couple. However, younger couples are electing to keep assets separate in the hope of avoiding the difficulty of dividing them. In reality, one of the best ways for Florida residents about to marry to protect their assets is to enter into prenuptial agreements.
You and your spouse worked as a team throughout your marriage and in raising your children.
When spouses realize that their relationship has run its course, there are two basic needs for each party to have during a divorce. These are: someone to advocate for their needs and extensive documentation. Florida residents who are preparing for a divorce might meet both of these needs through a collaborative law approach if their situation lends itself to such a process.