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Things to consider when divorcing a business partner

For some couples, getting married is not just about sharing their lives. It can be about sharing their business and professional ambitions as well. While this type of partnership can be very advantageous for both parties when things are going well, it can create even greater complications if the couple decides to dissolve their marriage.

Before you start taking steps toward divorcing your partner, you will want to dedicate some time to determining what options are available to you and which of those available options would be most beneficial in your particular situation.

Prenuptial agreements

If you and your partner had the foresight to agree to a prenuptial agreement, then your divorce may be less complicated than it would be otherwise. Instead of a prenuptial agreement, it is very possible for couples to draft and agree to other documents that explicitly state how their shared property will be treated in the case of a divorce. However, it you did not establish such an agreement there are certainly other courses of action.

Amicable cooperation

Just as in business, most partners achieve more when they have a good working relationship. Even if both parties have decided that a marriage is not the most beneficial form for their relationship to take, it is very possible to continue the partnership outside of the marriage. In fact, an amicable divorce will most likely achieve a number of things for you, including,

· More beneficial property division agreements.

· A better functioning business.

· A prime example of creative problem solving and conflict resolution for children.

Business valuation

Once you have definitely decided to dissolve the marriage and your business partnership, you will want to hire a business-valuation firm. Property cannot be divided well until the value of that property has been established.

In these situations, it is highly suggested that both parties work together to choose a single business-valuation firm that will serve as a neutral third party when analyzing their shared business. Choosing a single firm will also save both parties considerable time and expense.

No matter how you choose to go about the process, you will most likely want to know that your best interests are being cared for. As such, it is highly recommended that you obtain the services of an experienced and knowledgeable legal professional early on in the process. They will be able to get the whole process started in a way that will have the interests of both you and your business in mind.

Can I still protect my finances after marriage? Pt. 1

There is a lot of talk about prenuptial agreements in our society. The “prenup” is commonplace among the celebrities so many of us watch in the media; prenups are also commonplace among men and women who aren’t in the tabloids.

But just because you and your spouse are already married and don’t have a prenuptial agreement does not mean you can’t join the forces of the many couples who rely on marital contracts in the case of divorce. Your legal option after marriage is to work with your spouse to agree to a postnuptial agreement.

If you are reading this blog post it is likely because you feel a tug of suspicion that maybe you should have created a prenup but missed the opportunity. If that is the case, assess whether a postnup might be worth creating.

The following are some questions to ask yourself to determine whether a postnup is a must:

Did you get married while already having a hefty amount in assets of your own? Maybe you got married later in life and had already secured solid financial footing. Maybe you have a large inheritance that you want to protect. If you have money that you want to protect as yours, no matter what, state that with a postnup.

Do you have children outside of this relationship? Maybe protecting the assets that you see as yours is less about you and more about the financial security of your children. If you already had kids from a different relationship and then got married without having a prenup, a postnup is a crucial tool for you. You can state that your earnings will be kept separate and protected for the security of your kids should the marriage end in divorce.

These are just a couple of reasons your situation might warrant a prenup contract. An upcoming post will add to this list. If you have any doubt regarding your financial security after marriage, your family law attorney can give you more specifics about the postnuptial agreement process.

What does Florida lawsuit against other woman teach others?

Perhaps it sounds silly to you. A husband cheated on his wife. The wife finds out, gets upset and files a lawsuit against the woman with whom her husband had an affair.

The situation begs a deep question: is the woman trying to ease emotional hurt with legal tools? That is up to the Florida woman to ponder and decide. From a family law, legal perspective, this case might have more cause than simply hurt feelings.

There are some serious, significant financial considerations in this case to consider, too. According to news reports, the marital estate of the couple in this story is large. The woman and her estranged husband both claim that the husband has spent millions of their marital funds in order to support his affair.

Any divorce includes the process of property division. Florida uses equitable distribution laws, which tend to lean toward 50/50 division but also rely on what is fair. If there is no doubt that an affair has occurred and led to the breakdown of a marriage and the divorce filing, a court might let an affair impact financial terms of a divorce.

This especially may be true if the court sees that a significant portion of a marital estate was spent on a party’s infidelity. Sources indicate that the husband in this case affirms that he has spent at least $11 million to support the other woman in her life.

How will the wife’s lawsuit against the other woman turn out? We cannot say. From a divorce law perspective, it is safer to say that the concern regarding money spent on an affair does have a place within an alimony and possibly a property division argument. She does have rights as a wife within a divorce process to try to protect the dissipation of the assets within her marital estate.

Did adultery play a role in moving you or your spouse toward divorce? If so, while this news story is somewhat of an unusual case, it serves as an valuable reminder. Talk to your trusted family law attorney about the financial impact an affair might have had or continues to have on your joint assets.

Holiday engagement? Wedding planning should include prenup talk

Are you basking in the glow of a recent marriage proposal? The joyful holiday season tends to inspire many couples to take the next step in their relationships. How fitting during a time of gift giving to wrap up a beautiful diamond and pop the question. How special to begin a new year with the planning of a new chapter in you and your love’s lives.

While congratulations are certainly in order for the many couples whose new years include the newly-engaged status, there is more than wedding planning to consider. All kinds of people can benefit from family law planning before getting married. You and your betrothed should discuss a premarital agreement.

This kind of family law contract is called a premarital agreement according to Florida statutes, but you probably more often hear the contract referred to as a prenuptial agreement or “prenup.” Simply put, a premarital agreement is a contract you and your partner create and sign before getting married. It sets out how assets, debts, real estate, spousal support and other financial matters would be handled in the case of divorce.

Prospective spouses can make their prenups unique to their situation and their specific concerns or desires. Certain conditions might be noted in the contract related to behaviors during the marriage and how those actions (cheating, for example,) could impact matters during a divorce. However, Florida law does not allow child support to be negatively impacted; also, a prenup cannot override other Florida laws such as criminal laws.

If you are recently engaged you are likely overwhelmed with the excitement of this happy milestone. The excitement and the promise of marriage do not have to be snuffed out by discussing premarital agreements. Creating a prenuptial contract can be helpful for couples because it poses important questions regarding what each person wants and doesn’t want out of a marriage.

There is no shame in working with your partner to plan for your future. An experienced family law attorney can help the process along in order to serve your goals as individuals and as a couple.

Find clarity with property division lawyer during uncertain times

With the New Year here, history shows that more people in Tampa and across the U.S. will make the decision to move forward with divorce. The holidays are behind us, and the countdown to a new year widely represents the turning of a page for men and women who might be unhappy.

The year 2017 already represents a big change for the entire country, even the world. We will be getting a new president. Whether you voted for Trump or not, the reality is that the future is bit uncertain. Choosing divorce at this same time presents another level of uncertainty; therefore, collecting some knowledge about divorce laws in Florida can work toward providing some confidence in a time of major changes.

A change in government can be the beginning of big economic changes. Financial stability is also a matter of concern within most divorces. It is common for both parties to worry about who will get what in the divorce.

At its simplest level, the property division law in Florida is defined as equitable division. FindLaw explains that in equitable division states, the court generally determines what is fair when dividing marital estates.

Therefore, the common idea that property will be split totally 50/50 in the case of divorce is not necessarily true in Florida divorces. A judge might not see that as the equitable or fair financial arrangement.

What might a judge consider when determining what is fair? The court would look at income and earning potential of both parties. Also, fault (while most often ignored in U.S. divorces) might play a role in property division. Individuals’ ages, health and likelihood of inheritance might also be considered in Florida divorces.

If the New Year has ignited a fire in you to move forward with ending your marriage, we understand that you might be emotional. Still, sit down and try to think as clearly as possible about your financial situation.

Collect as much information and as many documents related to your marital estate as you can as soon as possible. Do you have a prenuptial agreement? Bring any information you have found to a trusted divorce lawyer who can lay out your options and evaluate your unique circumstances and how to best protect your goals.

Five tips to celebrating the holidays during a divorce

If you are newly separated from your spouse or going through the divorce process without finalized agreements in place, the stress of marital issues can dim the light of the holidays. Family is the focus of the season and the relationships you have with your loved ones shouldn’t be ignored even if you are feeling uncertain about your future.

Here are five tips to celebrating the holidays during a divorce:

1. Celebrate

Sticking to your family holiday traditions through a divorce is important to your psychological and emotional health. Taking part in holiday traditions away from your spouse may alter the logistics of your celebration, but you should make an effort to do it just the same.

2. Find a new tradition

While a divorce might leave some of your holiday time in limbo, you will also have the chance to establish a new tradition. A weekend you once spent with your spouse’s family could turn into a new tree decorating celebration with friends or a weekend spent sightseeing holiday light displays.

The relationship gaps or spousal disagreements you encounter during the holidays can help you shape financial and custodial arrangements through the divorce process.

3. Share the joy

Gift exchanges are a part of many holiday traditions. The joy you feel through giving gifts can have a positive impact on your emotional wellbeing.

As Winston Churchill said, “We make a living by what we get. We make a life by what we give.”

The positive feelings fostered through the holidays can help you be more resilient through your divorce.

4. Keep it simple

If you are separating from your spouse, you’re likely simplifying your home and finances. While the holidays may have you searching for positive emotional comfort, it is important not to go overboard with gifts and planning. As the saying goes – less is more.

Keeping it simple can help you avoid the stresses of over planning and adding more to your to-do list than you can handle.

5. Ask for help

The holidays are a time of goodwill, and many are willing to share in the comforts of the season. Don’t be afraid to ask for the help and confidence of a friend, neighbor, loved one or clergyman if the stresses of the holidays are too much to handle. These people can provide necessary emotional and moral support for you moving forward in a divorce.

When you’re ready to take on the legal challenges of divorce, it is important to seek the help of a caring, goal-driven attorney who will look out for your best interests. Divorce is a complicated issue, but you can get through it by appreciating the simple pleasures the holidays have to offer.

Can an affair have an impact on the terms of my divorce?

Divorce happens. Everyone is impacted by it; many choose it for their lives. As a Time piece notes, divorce has a place in American history. Today, it is common enough that it is a source of entertainment. The new HBO series, Divorce, is proof of that fact.

HBO buffs or Sarah Jessica Parker fans likely know about this new series that premiered earlier this month. It follows a couple whose 17-year marriage is ending. The first episode left off with the husband discovering that his wife, Parker, had an affair.

While the show is fictional, this kind of situation can and does play out in real life. The matter of adultery isn’t just entertaining scandal for television; it also can have an impact in a real-life Florida divorce. But how, and how much, can an affair play a role in your divorce?

Cheating isn’t necessary to prove in order for a divorce to be granted. No-fault divorces are the norm in most family law cases. Having to prove that one party did something specific to damage a marriage is no longer required as it was in the past. However, noting that an estranged spouse stepped outside of the marriage could change the terms of a divorce.

Florida Statute 61.08 reads, “The court may consider the adultery of either spouse and the circumstances thereof in determining the amount of alimony, if any, to be awarded.” What might this look like?

A lesser-earner whose spouse cheats on them might find favor with a court in terms of spousal support requests. If it was the lesser earner who is accused of cheating, they might find it harder to get the alimony amount they want. The higher-earner who didn’t cheat could be favored by the court.

Overall, the behavior of spouses during a marriage doesn’t make a significant difference in divorce unless, for example, someone’s actions impact the marital estate or hurt the children. As opposed to earlier times in American history, family laws generally reflect the reality that marriage is hard and spouses are human. Getting out of a marriage shouldn’t become a spectacle of criminalizing the other party.

If you have questions about how certain actions that occurred within your marriage might impact your divorce in Florida, don’t be afraid to have that honest conversation with a family law attorney whom you trust. This is your life, your family, your future. Ask the questions that you need to ask in order to feel good about moving forward.

Bucs get the W… but who gets those season tickets in a divorce?

It’s football season! Week 1 against the Falcons had Tampa Bay Buccaneers smiling. Whether or not you are on board with Jameis Winston, there is no denying that he had a good first showing. Not only did he throw passes that connected with eight of his teammates, four of those ended in touchdowns. The final score was 31-24, in favor of the Bucs.

Your team has one more game on the road before home season opener in Week 3, and you are excited. Your seats are closer to the 50-yard line than ever. You have everything planned, from tailgate fare to your lucky jersey… then a thought crosses your mind.

What happens to my season tickets in a divorce?

You and your wife always loved going to the games together, but things have been a little rough at home during the off-season. You might be in the middle of a trial separation or floated the idea of divorce, but you haven’t thought about what that might mean for your season tickets.

Season tickets are considered property, but it is marital?

Under Florida divorce law, any property acquired during the marriage is considered marital property and subject to equitable division. The first step is to determine whether your tickets are separate or marital property.

Ask yourself: did you purchased the tickets during the marriage?

  • Yes: If your answer is yes, then they are considered martial property and are subject to division.
  • No: If they are family heirlooms, were given to you as a gift (by someone other than your spouse) or you purchased them before the marriage, there could be an argument to be made for separate property – but it’ll depend on the circumstances.

Let us assume that they are marital property. What next? You have to decide how to divide them. Again, you have options:

  • Share the seats: Most people have an even number of tickets. Mathematically, giving each spouse half of the tickets would make sense. Practically, few people would want to continue going to games with their ex.
  • Share the tickets: You could always split the games. She gets half of the home games. You get the other. This might create a different set of problems. The first is that it creates the need for an ongoing relationship you might not want – namely, coordinating who gets which game every season – or you just don’t want to miss any games.
  • Split the value: There is a third option. Remember, property is divided equitably not evenly. You can keep the tickets as long as your spouse is compensated for their value with other property.

One of the best things you can do, prior to filing for divorce or beginning any property negotiations, is to stop and think about what you own. List your assets in terms of their “priority” and gather documentation necessary to make value determinations.

Does it matter when you file your divorce papers?

If you are like most people, you did not get married expecting a divorce and it is often difficult to pin down the exact moment when the end became clear. Maybe one conflict gave way to another and the differences slowly pushed a wedge between you and your husband. A single act of infidelity may have been the breaking point, but things were not great before it.

Whatever the reason for your separation, you probably feel doubts along the way. Uncertainty is natural with separation as you wrestle with the thought of changing what has likely become part of your identity. When arguing questions of asset division, the date of separation (DOS) becomes very important.

So what marks the difference?

You may see trial separations, getting back together, sleeping apart, separating finances or a serious argument as indications of separation. In a legal process such as divorce, where specific dates will influence the division of property, many wonder how the court determines the date and if the filing date of divorce papers matters.

The short answer is yes, the filing date for divorce papers matters (dissolution of marriage in Florida). The statute in Florida that sets the rules for the date of separation isn’t the same as it is in other states. As is so often the case in our legal system, the statute is also written in English but not necessarily plain language.

The specific section that discusses the date is as follows:

“The cut-off date for determining assets and liabilities to be identified or classified as marital assets and liabilities is the earliest of the date the parties enter into a valid separation agreement, such other date as may be expressly established by such agreement, or the date of the filing of a petition for dissolution of marriage. The date for determining value of assets and the amount of liabilities identified or classified as marital is the date or dates as the judge determines is just and equitable under the circumstances. Different assets may be valued as of different dates, as, in the judge’s discretion, the circumstances require.”

Unpacking this statute, the first three options are the date a separation agreement is signed, a date each of you agrees to name or the date that the papers are filed. The judge also has discretion in determining a “just and equitable” determination of dates and for the purpose of asset division, multiple dates may even be applied.

The date of filing does matter in Florida, but it is one factor among several that a judge takes into consideration. The DOS is a complex legal issue and it is important to submit your petition with the timeline in mind.

When should you file your personal case? The answer depends on your individual situation, which is why you should consult with an experienced attorney to guide you and help you determine when the right time to file is based on your circumstances.

Report: The end of summer could mark the end of your marriage

With summer vacations and long, relaxing days mostly behind us now, Floridians are facing a return to reality. Now it’s time for everyone to go back to work and school. The next break many people get could be several months away and coupled with the stress of the holidays, which makes saying goodbye to summer that much harder.

However, this time of year could make it easier to say goodbye to an unhappy, unsatisfying marriage. According to a recent study, the number of people filing for divorce spikes in the month of August.

Recently, sociologists examined data related to the rate of divorce in one state. They found that throughout the year, there were two definitive spikes: one in March and one in August.

The timing of these spikes is believed to correlate with the social calendar many people adhere to in terms of holidays. For instance, many people take family vacations during the summer and have time off work for holidays like the Fourth of July and Labor Day. These occasions often result in more time spent with family and raised expectations that a strained relationship can be repaired with time away from the daily grind.

In reality, however, the pressure of vacations and the demands of a summer social calendar can ultimately do more harm than good to an already tenuous relationship. Instead of reconnecting, battling spouses can wind up more unhappy than they were before holidays and vacations.

Because of this and the fact that people typically have fewer social obligations in the next few months, August appears to be a popular time to make the decision and file for divorce.

What this means for you if you are considering divorce is that you are not alone. Further, it is a statistical representation of why you could be more motivated to file for divorce now as opposed to continuing to put off the difficult decision. Should you find yourself in this situation, now could be a good time to consult an attorney and get the process of divorce started. It is never going to be an easy thing to do, but filing now could be easier than waiting until later in the year.

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313 South Bungalow Park Avenue
Tampa,FL33609
Phone
813-374-2000
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813-374-2031