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May 2015 Archives

Discussing a Florida prenuptial agreement makes sense

In Florida and in today's world, many things can happen almost overnight. Two people fall in love and decide to get married with little thought to the other person's finances. No one likes to think about finances at the time of their engagement, but when a marriage falls apart, the fallout from it can be destructive. A prenuptial agreement is a way to lessen some of the complications that divorce proceedings can sometimes create.

A high net worth divorce could become even more difficult

Divorce is often the last thing on a newlywed couple's mind. However, due to a variety of circumstances, many married people at some point in their life go through it. The process can be very difficult, expensive and time-consuming, especially in the case of a high net worth divorce in Florida. In some states, it might be getting even harder.

Difficulties in a high net worth divorce in Florida

There is a commonly held assumption that the more money a person has in life, the easier life becomes. Although some people in some instances might wholeheartedly agree, this platitude does not always hold true. In fact, the overabundance of wealth can make things very tricky when a high net worth divorce takes place in Florida.

What happens to a 403(b) during a divorce involving high assets

A 403(b) plan, known also as a tax-sheltered annuity plan, is a type of retirement plan for those who are employed by the government or non-profit and educational organizations and are comparable to 401(k) plans. Investment accounts are especially critical during divorces between individuals with high assets due to how much is usually at stake during property division. When a divorce occurs in Florida, a 403(b) plan is considered marital property, and both spouses have certain rights when it comes time to divide the plan.

How to handle an inheritance during divorce property division

When couples in Florida make the decisions to end their marriages, there are many factors that must be addressed. The factors can include anything from child custody and support to alimony and property division. When one spouse has inherited real estate or other assets, the other spouse may try to claim a portion of the assets.