On behalf of Law Office of Nina R. Price, PLLC posted in Divorce on Saturday, May 18, 2013
A Florida man who decided to marry his partner in Iowa last year has now decided that he wants to end the relationship. However, in an unusual turn of events, the clerk who performed the ceremony did so fraudulently and later pleaded guilty to related criminal charges.
Although the marriage paperwork was falsified, the man has been told he is legally married and that he must file for divorce. He has since stated that he is upset about this whole mess and has decided to change his lifestyle.
On behalf of Law Office of Nina R. Price, PLLC posted in Property Division on Thursday, May 16, 2013
Many divorcees in Florida and other states are ordered to divide their properties in court. In the past, divorce court judges have stipulated that couples split their bank accounts, insurance policies, annuities and other similar joint-owned financial products. Some people are surprised to find that their spouses take their names off of financial properties like term life insurance policies and retain full control.
When judges rule that spouses split property, they're usually referring to cash and cash equivalents. Term life insurance policies and similar products may not have any cash value until after the policy holder dies. As a result, people who obtain divorces may legally exempt their former spouses from such policies. As sole owners, they then have full control over who is named as a beneficiary and other important policy details.
On behalf of Law Office of Nina R. Price, PLLC posted in Divorce on Sunday, May 12, 2013
The case of a runaway mom who resurfaced years later, and the financial impact it is now having on her ex-husband, highlights possible loopholes in the insurance industry. According to ABC News, a Pennsylvania resident is fighting a legal battle to keep $100,000 in life insurance money he received after his wife disappeared 11 years ago and was declared dead. The couple was going through a divorce when she vanished in 2002 after taking their children to school. Several strangers found her in a distraught state and she hitchhiked with them to Florida, where she lived homeless for awhile.
The disappearance was tough on the family and the father was not legally able to declare his ex-wife dead for seven years. He finally went through the declaration process in the Lancaster County court system in June 2009. This April she was found, still in Florida.
On behalf of Law Office of Nina R. Price, PLLC posted in Divorce on Friday, May 10, 2013
Florida "Friends" fans may have heard that Jennifer Aniston's fiancee offered to sign a prenuptial agreement that would protect the actress in the event that they ever got a divorce. However, Aniston refused to accept her fiancee's offer to protect her fortune, which means that if the pair ever do get a divorce, the decision could end up costing her an estimated $150 million.
Although the actress's friends are concerned about her decision, fearing that it might cost her in the long run, Aniston is adamant about not signing the agreement. The actress states that she could not be in a relationship that was not sincere and that didn't have "generosity, integrity, spirit, kindness and humor" in it. A source claims that she does not want to "taint" relationship with a prenuptial agreement, but some of her friends worry that the decision, while romantic, is ultimately unwise.
On behalf of Law Office of Nina R. Price, PLLC posted in Divorce on Friday, May 3, 2013
While antiquated thinking in Florida corresponds with the idea that prenuptial agreements are only for the extremely wealthy and famous, this is simply not the case. Prenuptial agreements can provide a contingency plan in the event of divorce. Prenuptial agreements can provide many additional benefits.
Prenuptial agreements can let individuals make allowances for children from previous marriages or relationships. There are certain default rules in divorce proceedings, but prenuptial agreements can supersede these rules, such as arrangements regarding retirement accounts. Prenuptial agreements can also ensure that certain assets or income is left to children from previous relationships, rather than to the other spouse.
On behalf of Law Office of Nina R. Price, PLLC posted in Child Support on Friday, May 3, 2013
Residents of Florida may be interested to know that a wealthy British socialite's child support claims have come under attack after a lawsuit was filed by the child's father, alleging that his ex made false claims regarding her financial situation. The child's mother filed for the nearly record-breaking sum of over $50,000-a-month child support and won a positive ruling in Hong Kong courts, a city in which she has a home.
Her considerably wealthy ex-partner, and father of the child, also claims that she is receiving substantial financial assistance from her equally wealthy current partner in the form of housing and monetary gifts, which have totaled well over $3 million. On her financial declarations, the child's mother and her current partner have structured these monetary exchanges as loans to be repaid.
On behalf of Law Office of Nina R. Price, PLLC posted in Property Division on Saturday, April 27, 2013
It used to be rare for a wife to earn more than her husband. That meant it was always the man who paid alimony after divorce. However, that is changing. Although the number of men who pay alimony is still larger than that of women, it is becoming more common for a husband to seek spousal support when the wife earns more. That is as true in Duval County, Florida as it is nationwide.
In fact, in at least 16 percent of dual-income families, the wife's income exceeds the husband's. Therefore, it makes sense for a woman to have someone protecting her interests in case of a divorce. People increasingly use a prenuptial agreement to designate what will be separate property instead of marital property. It is important for spouses to openly discuss money and for women to have some money or assets separate in their name. That especially pertains to a business, professional partnership or inheritance. Moreover, even people with high incomes can find themselves in an abusive relationship.
On behalf of Law Office of Nina R. Price, PLLC posted in Property Division on Thursday, April 25, 2013
Just as family dynamics have changed considerably over the past 30+ years, so it is with divorce and associated property settlements. Many of today's forward-thinking couples are taking the initiative and having prenuptial agreements prepared before the marriage ceremony, which saves considerable time, emotional drainage and money if the marriage does end in divorce.
Having an agreed-upon, and properly executed, prenuptial agreement is especially important for households in which the wife earns a higher salary than the husband. In a society that traditionally made financial provisions for the women of divorcing couples due to the fact that husbands almost always had higher incomes than the wives, woman now more frequently hold the higher-income card and need to take precautionary measures with their earnings.
On behalf of Law Office of Nina R. Price, PLLC posted in Alimony on Saturday, April 20, 2013
Florida is a no-fault divorce state. That means that a judge will dissolve a marriage if either of the spouses can testify that the marriage is broken and cannot be repaired. It is not necessary to establish abuse, abandonment, infidelity or any other misbehavior by either spouse. For spouses who are unwilling or unable to agree, the process may be exponentially more difficult.
One of the biggest issues that can make a divorce more divisive is alimony. As divorce gets more contentious, parties may be less reasonable in their demands. One man reported reducing his alimony offer from a rather generous amount to nothing as the case continued. He stated that he simply wanted to see her spend money fighting, as he has done for years. In response, the woman's attorney requested more than the initial offer.
On behalf of Law Office of Nina R. Price, PLLC posted in Divorce on Thursday, April 18, 2013
A bill that proponents say would even the financial playing field between couples passed in the Florida Senate on April 4. Sponsored by Floridians for Alimony Reform, the bill passed by a 29-11 margin. However, critics say that it could create financial hardships for single mothers.
The bill would end permanent alimony awards as part of divorce proceedings, puts caps on the amount allowed to a spouse based on income. Under the bill, a paying spouse has the option to terminate payments once he or she reaches retirement age. Provisions would allow for exceptions in certain exceptional circumstances.