Florida Divorce & Finances
UPDATED: March 2, 2020
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Divorcing couples need to work out the details of separating finances, including debts. The separation of finances can be one of the most daunting aspects of a divorce, but understanding the laws in your state can help you navigate through this part of the process. You may need to decide how to divide property. You may want to know what the tax consequences will be. Are there estate planning issues that need to be worked out? Will you need to make, or are you entitled to, spousal support payments, and if so, how much and for how long? Following are laws specific to Florida Divorce and Finances.
Florida Property Division/Community Property/Debts:
Florida is an equitable distribution state. This system is also called common law or marital property. For an explanation of community property rules and the division of property in community property states, see Dividing Up Property in a Divorce: Community Property vs. Equitable Distribution.
Florida Spousal Support:
Spousal support, also called alimony in Florida, is a regular amount of money that a court of law may order a person to pay to his or her former spouse after a divorce. Whenever the court issues a decree for the divorce, the court may also issue an order at that time that either the husband or wife pay support of the other spouse.
The court determines both the amount owed and the length of time it is to be paid (some alimony awards are permanent). The determination is based on numerous factors including the education and earning potential of each spouse, the length of the marriage, the financial resources of the parties, and other factors.
Marital conduct is considered in alimony awards in the state of Florida. Alimony may not generally be awarded to a spouse if that person is guilty of desertion or adultery.
You may need a lawyer to help you deal with the financial aspects of your divorce if you and your ex cannot agree. You can find a lawyer at:
Florida Divorce/Child Support/Child Custody Lawyers:
Find an experienced Florida Divorce Attorney at AttorneyPages.com
Find an experienced Florida Child Support / Custody Lawyer at AttorneyPages.com
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