Tax law changes in 2019 mean now is the time to file for divorce in Florida if you expect to pay alimony. According to The New York Times, the tax law eliminates the tax break given to those paying alimony. Currently, if you pay alimony and meet certain guidelines, you may take a deduction for the alimony before figuring the taxes you owe. The new law takes that option away, meaning you may pay more taxes.
If you have recently filed for divorce from your spouse in Florida, you are probably dealing with a lot of inner conflict. While you are satisfied that you will have your freedom back and are no longer required to deal with ongoing conflict, you are now faced with many difficult and important decisions related to your future and that of your children. During this time of inconsistency and unexpected roadblocks, it is critical that you take the right steps to protect your future.
You and your spouse have decided to get a divorce, but now you are concerned about how that decision will affect the home you own together in Florida. With both of your names on title documents, you are both legally responsible for continuing to make payments on the property. At Fried and Fried, P.A., we have helped many people to reach an amicable solution in the separation of assets during their divorce.
One of the biggest issues many people have after a divorce in Florida is getting back to a secure financial state. Divorce can bring about many financial issues due to splitting assets and having to pay costs associated with the process. It can be very difficult for many families. Even if you were financially well off before the divorce, you could still face issues.
There are many different ways to co-parent. The Florida family court will usually work with you to find what works best for you and your situation and allow you to do it how you want as long as it will not harm your children. One option you may not have considered before is called bird's nest co-parenting, which according to Psychology Today, is where you keep the family home and the children live there full time while you and the other parent take turns living there.
While your decision to divorce your spouse may provide some immediate relief from constant contention and marital conflict, it may also bring with it a whole new collection of problems. One in particular deals with your ability to maintain your share in the real estate you own with your spouse. At Fried and Fried, P.A., we are experienced in helping people in Florida to work their way through high asset divorce proceedings.
Deciding to end a marriage in Lee County, especially when there are kids is never easy. You might not want to divide the family, but it might be the best solution. You do not want your kids living in a toxic environment with two parents who are at odds with each other. According to Psychology Today, unhealthy marriages are more toxic to children than divorce.
When a couple makes the decision to divorce in Florida, they often look to the future with hope and anticipation of a happier existence. While separating from a significant other may provide considerable satisfaction and provide a healthy means to end an unhealthy relationship, it can also significantly affect the future of both people. Retirement for example, is one area that is often considerably altered when a divorce takes place, and people must carefully plan their future to adjust for any changes and maintain a reliable retirement plan.
Many people know how divorce can be financially disastrous, create emotional issues, and affect families. That said, people may be able to limit the extent of the difficulties they experience by planning ahead carefully. Moreover, it is important to remember that many other issues can arise with the end of a marriage, such as the need to relocate. Sometimes, a previous relocation could lead to a divorce, while others may move for better opportunities or as a way to find a new beginning after their marriage has come to an end.
On this blog, we have gone over many facets of high asset divorce, from public attention that people in this position may garner to the way in which marital property is handled. However, there are far more topics that can be especially concerning for some people who are working through divorce as a high net worth individual, such as identity theft. If you suspect that your former spouse has stolen your identity, you may be confused and upset. However, it is vital to go over your legal options and defend your rights. Unfortunately, preventing identity theft carried out by someone you are breaking up with or used to be married to can be challenging.