Your great grandmother’s favorite bracelet, or your granddad’s collection of baseball cards hold sentimental value and are things you want to hold on to after a divorce. These types of property are things you consider your separate property, as opposed to the marital home or vehicles acquired during a marriage. So, when you divorce, an important question of property division becomes who gets what and can you keep what you believe to be your separate property?
In Florida, property is divided under a system called equitable distribution. What this means is that the Court divides property in an equitable way. This does not mean property is divided equally, it means the Judge decides what is fair. When deciding what is fair, the Court will consider each case on its… Continue reading
A divorce decree is meant to be the final document that sets forth the details of the divorce between the parties. However, things can change and the need to modify orders requires competent legal counsel. The Ferraro Law Group is staffed with experienced family law attorneys that fight for your rights during the divorce case, and when your needs change after the case reaches conclusion.
Common reasons for seeking a modification include:
● A new job/changed financial circumstances
● Sudden illness or increased childcare expenses
Florida law requires a substantial change in circumstances to make a modification to terms in the divorce decree; most notably when the change requested involves payment of child support. In fact, making a change to property or debt division once the case is final is typically not done. In today’s economy, the inclination is to think of a… Continue reading
Most people agree that during divorce the single most important issue is the welfare of any children. A close second, or if no children were born of the marriage, is the issue of assets and property division. Some parties are able to peacefully divide their assets and liabilities, while other cases are found on the other end of the spectrum. Everything from failing to report income, to hiding assets can be uncovered during a divorce. In cases where the value of assets is significant, the parties are well advised to seek not only the advice of competent family law attorneys, but to also include an accountant on their team of professionals.
The benefit to using an accountant during divorce may depend on the amount of wealth of the parties. When suspicions of hidden assets arise, it is important to:
● Determine the… Continue reading
In this economy, we are frequently presented with cases in which a former spouse has failed to fulfill his or her monetary obligations under the terms of a divorce decree. Clients often assume that once the divorce decree is entered; the other party will simply comply with whatever awards it dictates. Unfortunately, this often turns out not to be the case and therefore, it is important to have a good understanding of the available remedies for the breach of a divorce obligation.
The most important concept to understand is that there is a distinction between property settlement awards and awards which are determined to be in the nature of support (alimony, child support, attorney’s fees). This distinction governs the remedies that are available and the loopholes which might exist for a non-complying party.
Property division awards in a divorce decree are treated… Continue reading