Divorce

June 29, 2011

Divorcing Your Business Partner

The National Federation of Independent Business estimates that there are more than 1 million husband-and-wife business partnerships. Considering the divorce rate has remained relatively stable during the recession, it is only natural that some of those partnerships end in divorce. Almost all divorces can get tricky when it comes to dividing assets; however, co-ownership of a business makes the separation much more complicated.

Some simply decide to sell the business and split the assets. However, it is difficult to sell a small business, especially in the current economy. It is important to consider other options.

For example, you might consider a split of the business. This is generally possible only when you and your business partner have independent clients, such as a doctor’s office. Alternatively, the couple could remain in business as a partnership. This is difficult for obvious reasons. One way to reduce the possibility of making hasty decisions to spite the other is to bring in an independent board of directors. A more common solution is for one of the spouses to buy the other out. This requires a good accountant to help value the business.

June 20, 2011

Florida Divorce Residency Requirement

by David M. Goldman

According to Florida Law, an individual seeking a divorce must be a resident of the state for 6 months prior to filing for divorce. While some states have an additional divorce waiting period to make sure couples are absolutely certain about ending their marriage, Florida has no statutory waiting period. After the 6 month residency requirement is met, a divorce can be filed in Florida. The Petition for Dissolution of Marriage should be filed in either: (1) the county where the Petitioner resides or (2) the county where the parties last lived together prior to separating.

As a Jacksonville Divorce Attorney, I am familiar with how to expedite divorce cases. If you would like to learn more about the Simplified Divorce Procedures in Florida, feel free to contact me any time!

June 17, 2011

Marital vs. NonMarital Assets

by David M. Goldman

Whether or not an asset is “marital” or “nonmarital” is often a key issue in a divorce. Marital assets are generally considered jointly owned by both husband and wife, and it is usually up to the court to decide how those assets will be distributed. Nonmarital assets, however, are considered owned by only one of the spouses and are generally free from distribution in a divorce. You should be aware that liabilities –debts– are treated the same way as assets.

Florida Statute 61.075 addresses this issue and defines marital and nonmarital assets. Marital assets include assets acquired during the marriage, the increase in value of nonmarital assets (if the increase is the result of contribution from both spouses), interspousal gifts during the marriage, and all benefits accrued during the marriage, such as retirement funds, pension, profit sharing, and insurance plans.

Nonmarital assets include assets acquired prior to the marriage, assets acquired during the marriage by gift or inheritance, assets excluded from being considered marital by written agreement (such as a prenuptial agreement), and income derived from nonmarital assets, unless the income was “treated, used, or relied upon by the parties as a marital asset.”

June 14, 2011

Is living separately required to get a divorce

by David M. Goldman

This question has a classic legal (i.e., frustrating) answer: yes and no. Basically, you don’t need to be physically separated –you can even live under the same roof– but you cannot cohabitate. This means you have to show some defined rules of separation in your home (separate sleeping arrangements is a good example).

The case that best answers this rule is Stoneburg v. Stoneburg. In this case, the Florida Supreme Court stated the mere fact that husband and wife continued to live together was not grounds to overturn the divorce ruling. The Court noted, “The law would not compel the husband under such circumstances to forcibly put his wife out of the house in order to maintain a suit for divorce . . . .”

It’s important to note that the husband and wife were not sleeping in the same bedroom during divorce proceedings. The Court would not likely uphold a divorce while the spouses were sleeping in the same bed. In

June 13, 2011

Divorce and its Impact on your Children

by David M. Goldman

There are obviously many considerations that revolve around the decision to get a divorce. How a marital split will affect your children is likely on the top of that list, as it should be. Divorce has a profound effect on kids, and it’s important you try to proceed with your divorce in a way that that has the least harmful effect on your kids.

It has been known for some time that young children of divorce are more likely to suffer from psychological issues, such as anxiety, loneliness, and lasting impacts in interpersonal skills. Further, a recent study suggests that young children of divorce are more likely to suffer decreases in math scores in the years following their parents’ separation. A more positive finding, however, was that reading scores were unaffected. Further, children did not appear to be at higher risk for more aggressive behavior, such as arguing, fighting, or anger.

Nevertheless, divorce is a trying situation for all involved. Children are especially susceptible to lasting psychological issues, which is why it’s important that you deal with your divorce in a way that minimizes some of this stress. If you’re considering filing for divorce, make sure you contact a knowledgeable Florida Divorce Attorney to help make the process a little more bearable.

June 9, 2011

Family Law and Divorce

by David M. Goldman

“Can I move out of state as primary parent of my child?” As a Jacksonville Family Law Attorney, I continually receive this question and just received it again in my email. I have also previously written a blog on it.

To briefly answer this question, a parent who has majority timesharing with their child(ren) may move out of state. However, there are a few hoops that need to be jumped first.

Specifically, Florida law requires parents who want to relocate with their children, thus moving more than fifty (50) miles away from the minority timesharing parent, to file with the court a Motion to Relocate. This Motion must be heard and granted by the Court prior to relocating.

June 8, 2011

The Need for Estate Planning with Divorce

by David M. Goldman

As a Ponte Vedra Family Law Attorney, I have found it is important that all couples considering a divorce also consider having an estate plan. Under Florida law, a surviving spouse is entitled to his or her intestate share of the estate unless a final decree of divorce has been entered. It is important to note that it is the entry of a final decree, not the petition for dissolution, which causes a divorcing spouse to forfeit the right to an estate. Thus, an untimely death prior to entry of a final divorce decree can result in the allocation of the surviving spouse’s assets to his or her deceased partner’s surviving heirs.

Another problem I often see is when a divorce brings wealth to a client who lacks experience managing it. Therefore, it is important for a divorcing spouse to meet with the type of professionals who can help him or her develop an estate plan. If you are considering a divorce, feel free to contact me and I will be happy to direct you to a Ponte Vedra Estate Planning Lawyer.

June 7, 2011

Bankruptcy after Divorce

by David M. Goldman

The process of obtaining a divorce can be an expensive process, one that leaves many people in debt and possibly looking to file bankruptcy. Before you make any of these decisions, you should make sure to contact a Jacksonville Divorce Attorney or a Jacksonville Bankruptcy Attorney to discuss your situation as your options can often be complicated and confusing.

For example, many people think all of their credit card debts will be discharged in a bankruptcy proceeding. This is not necessarily true. If you file for divorce and a judge issues a final order of divorce, you will likely be responsible for any debts listed in that order. So, if a divorce order gives you the car, your spouse the boat, and splits the credit card debt between the both of you, you will likely not be able to discharge that credit card debt in a later bankruptcy proceeding.

There are exceptions to this rule, but the laws can be very complicated. Make sure to contact a Jacksonville Divorce Attorney if you are thinking of filing for divorce or post divorce bankruptcy.

June 6, 2011

Divorce and Division of Assets

by David M. Goldman

Florida law stipulates that marital assets and liabilities are to be divided equitably upon divorce, in legal jargon this is referred to as equitable distribution. However, equitable distribution may not always mean equal division. Each and every divorce case is different.

Florida courts look at many factors when determining which party gets what and how much they get. Before dividing property in a divorce the court must first decide what is marital property and what is nonmarital property.

As a Jacksonville Family Law Attorney, I am frequently involved in the dissolution of assets process. Should you find yourself facing an upcoming divorce, contact a Jacksonville Family Law Attorney today.

May 31, 2011

Alimony In Florida

by David M. Goldman

As a Jacksonville alimony attorney, my job is to get people alimony and to keep people from having to pay alimony, depending on which party I represent. There are several factors that the courts use in determining an award of alimony. Only one factor is the length of the marriage. As such, just because you have been married for ten or more years, doesn’t necessarily mean that you are entitled to alimony. There are several other factors that are assessed when determining an award of alimony in Florida. Please contact a Florida alimony lawyer to ascertain whether or not you are a candidate for alimony or if you are going to have to pay. Most cases are not cut and dry and require a Florida alimony attorney to best represent your interests.