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Property division and the prenuptial agreement

Years ago, many couples would get married soon after high school graduation. In today's world, however, the average Florida couple is typically several years older and each individual has already begun to establish himself or herself financially. With this in mind, many couples are discovering that a prenuptial agreement is a useful tool in both a possible property division agreement in case things do not work out as well as an avenue to discuss current financial situations and philosophies.

Divorce and property division spikes after vacation

Labor Day weekend ended too quickly, and the kids are returning to school. For many Florida families who trudged to the beach or the mountains for a last hurrah at summer's end, this festive celebration may be their last as a family unit. Instead of packing for next summer's vacation, they may find themselves packing for property division and divorce.

Property division: Avoiding tax penalties re retirement funds

The end of a marriage can have a significant impact on a person's financial future. For this reason, an individual in Florida may place a great deal of importance on pursuing a fair distribution of assets and debts during property division. However, there may be additional factors that could prove detrimental if overlooked, such as the potential tax ramifications of dividing retirement accounts.

Equitable Distribution property division during a Florida divorce

When facing divorce, one of the main sources of anxiety is worrying over how the assets will be divided. One of the ways to lessen this stress would be for both parties to come to an amicable agreement on the issue. Since this is sometimes impossible, each state has its own rules on how property is divided when the marriage is over. While some states are known as Community Property states, Florida is known as an Equitable Distribution state.

Divorce and Facebook: What should people post?

Many Florida marriages end in divorce. In fact, research from the Census Bureau found that Florida had the seventh highest rate of divorce in the United States in 2015. Divorce is difficult to go through, but people should make things easier on themselves by not posting all their dirty laundry on Facebook and other social media platforms. 

Considering insurance in divorce property division

When couples go through a divorce, there is often a lot of emotion to deal with. That can make it difficult for the two parties to consider every aspect of their property division, and where everything will fall once the dust settles. One of the most common examples of forgotten assets in a Florida divorce is insurance. That is because a spouse is sometimes dropped off of the other spouse's insurance once a couple is divorced.

Mistakes to avoid when filing for divorce

For some people in Florida, the decision to divorce can bring about feelings of relief and happiness. For others, it can intensify their feelings of hurt and abandonment. People who are involved in high-asset divorces should not let their feelings get the best of them during this time in their lives. Their emotions can distract them from the big picture and make it harder for them to protect themselves and move on, resulting in them getting less than their fair share in their divorce settlements. 

Building a prenup with property division in mind

Many people hold to misunderstandings about a prenuptial agreement. Some see it as bad luck or an omen that the marriage will not last, while others think that such a document is only for high-net-worth couples. A prenup is actually agreed upon by both parties to decide how the couple's assets would be divided in the event of a divorce. Florida is known as an equitable distribution state, meaning that marital property is divided fairly in a divorce, though not necessarily equally. If the couple has a valid prenup, that contract would control. 

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