One of the thorniest problems wealthy couples face when they decide to end their marriage is valuing the assets that they jointly own. Assets acquired by a spouse prior to marriage remain the property of that spouse during the marriage, as do assets such as bequests and gifts, and these assets are not affected by the divorce, unless they are comingled with marital property Couples who have been married for a more than a few years may have seen the value of their jointly owned assets increase significantly. Valuing and dividing these assets may therefore be the most difficult issue when high-asset couples decide to divorce.
The wife of British golfer Lee Westwood, Laurae Westwood, has filed for divorce. The papers were filed in Palm Beach County Court even though Westwood is a native of Great Britain. According to news reports, the divorce is expected to be contested both as to the alleged grounds - infidelity - and the amount of money involved.
When most Floridians go through a divorce, they view the entry of the final order as an end to the conflict. In some cases, unfortunately, one or both ex-spouses are motivated to continue the battle. A remarkable example of this phenomenon recently occurred in a divorce in Fort Lauderdale when an ex-wife ended up accusing her former husband and his new wife of fraud and attempting to collect legal fees from the wife.
When Florida residents decide that they must end their marriages they will begin the legal process of divorce. Divorce cuts the legal ties that bind two people together in a marital union and divides their shared property and interests so that they may continue their lives independent of each other. Even if one party to divorce believes that the other is to blame for the breakdown of their relationship in Florida individuals pursue no fault divorces.
"The question is complicated, but the answer is not," explained Justice Stephen Breyer in a recent appeal of a divorce issue. The case before the U.S. Supreme Court is indeed a bit complicated to explain, but basically stands for the principle that federal law trumps state law where they disagree.
If you're going through a divorce in Florida, the judge assigned to your case may urge you -- or require you -- to try to settle your issues of disagreement through mediation before you ask the judge to decide them. The reason is that the Florida courts encourage the use of mediation and other forms of alternative dispute resolution. Mediation and ADR not only save court time and money, but they can also provide a more positive way forward from divorce.
If you've recently concluded divorce proceedings, you're probably ready to put the turmoil behind you and move on in a more positive way. You're almost there!
Determining who gets to keep the children is one of the biggest sticking points during a divorce proceeding in Florida. Unfortunately, fighting over child custody can take a toll on both parents emotionally. It can also be burdensome for the children involved, no matter how old or young they may be.
Dissolving a marriage is never an easy or simple process. Because of this, divorces tend to demand immediate attention, which can make it hard to find the time to thoroughly consider the impact it could have on your future. However, some planning now could make life significantly easier down the road.
Although a divorce case begins with the filing of a divorce petition in court, that doesn’t mean the case has to stay there. Indeed, our family law firm works to save our clients both time and emotional headaches by negotiating as many issues as possible outside of the court. Such negotiations, although informal, are still attended by the parties’ attorneys. That way, a party can be assured that his or her best interests are still being protected, and that no issues have been overlooked.