Archive: August 2022
August 29, 2022
In Florida, marital property is any asset acquired by either partner during the marriage. It includes both assets and debts. Generally, marital property is divided equally between the spouses in a divorce. However, there are some exceptions to this rule.
In a divorce, the judge will look at all marital property and divide it equally between the two parties. However, there are some things that the court cannot divide, such as non-marital property.
In a high asset separation, spouses must determine what property is marital and what is separate. Florida law guides how to divide assets, but the court has the final say. According to the 61.075 statutes, the following are considered marital property.
Property Acquired during the Marriage
Assets acquired after the wedding day are considered marital property, regardless of who purchased them or whose name is on the title. It includes things like houses, cars, and investment income.
If an asset was bought during the marriage, it is most likely considered marital property. However, sometimes an investment is bought with money acquired before marriage, which is regarded as a separate asset.
Asset Appreciation and Enhancement
Suppose an asset that one spouse owned before the marriage increases in value during the marriage. The difference in value may be considered marital property. This appreciation can happen if the asset is improved with marital funds or through the efforts of either spouse.
If one spouse purchases a house before marriage, that spouse’s name appears on the mortgage and title of the house. The house is considered separate property belonging only to the purchasing spouse. If both spouses make improvements to the home during the marriage, the house’s increased value (the “enhancement”) would be considered marital property.
Spousal Gift
When one spouse gives a gift to the other, it is still considered a part of the marital property because the courts want to ensure an equal distribution of assets between both spouses. It can be seen as unfair to the spouse who received the gift, but it is done to ensure fairness overall.
The law prevents one spouse from receiving a significant asset, like a car, while the other spouse is left with nothing. The law still sees it as marital property if the vehicle is purchased with joint money or put in the wife’s name. The wife may be able to keep the car, but only if some other asset offsets the vehicle’s value.
Retirement Benefits
When a married couple saves for retirement, they usually do so, intending to continue to live together in retirement. However, if the couple gets divorced, any retirement savings are considered part of the marital property and will be divided between the two spouses. It is to ensure that both spouses have some retirement savings, even if only one of them contributed to the account.
Retirement benefits, rights, and funds that have not yet accrued value during the marriage are non-marital property. These items include 401(k) contributions that have not yet been vested or pensions that have not yet begun to pay out.
Conclusion
Marital property in Florida is any property acquired by either spouse during the marriage. It includes both real property (e.g., homes, land) and personal property (e.g., vehicles, furniture, jewelry). Florida is an equitable distribution state, which means that the court will divide marital property fairly and honestly, taking into account several factors such as each spouse’s contribution to the marriage and each spouse’s need for the property.
If you are in the process of separating, you might have questions about your assets. If so, kindly contact Dorsey Law JAX. We will help you through these difficult circumstances and ensure your rights are protected, so book a consultation now!
August 29, 2022
When you receive divorce papers in Florida, you may feel like your world is crumbling. You may feel scared, alone, and unsure of what to do next. It is important to remember that you have options and you are not alone.
It’s recommended to consult with an attorney before taking any action. An attorney can help you understand your rights and options and can help you navigate the divorce process and figure out how to carry out the response you choose.
Here are four possible responses to getting a petition for divorce in Florida.
1) Ignore the Petition
If you do not want to get divorced, you can choose to ignore the petition. However, this will not stop the divorce from happening. If you don’t do anything with the papers, you are essentially giving the person who filed the petition the green light to still go through with the divorce.
Florida has regulations to wait for the spouse’s response for 20 days. Remember that the court will grant the divorce without your input, and they can make all of the decisions about the divorce, including child custody, alimony, and property division.
2) Affirm the Petition
If you agree with the divorce papers, you can affirm the petition. This means that you agree to the divorce and that you want the motion carried. You can also affirm the petition if you agree with the terms and reasons set out in the petition.
Be sure to coordinate with your hired family lawyer to figure out how you can affirm the petition and how to handle the aftermath of separating from your former spouse. Typically, all you have to do is sign an affidavit to affirm that you want to get a divorce from your spouse.
3) Contest the Petition
If you don’t desire a divorce, you can contest the petition. This means that you must file a response to the petition within a set amount of time. You can contest the petition if you believe that you and your spouse can work things out or if you think that your spouse doesn’t have grounds for a divorce.
If you choose to contest the petition, you’ll be setting things up for a trial. Your lawyer will have to present your case and prove your side of the story. After you present your side of the story, the judge will make a decision on the divorce.
4) Consider Mediation
If you’re unsure whether you want to get a divorce or not, you may want to consider going to mediation. Mediation is a discussion process where you and your spouse work out the issues and differences that are causing the rift between you two.
If you’re able to work out all of your differences, you may be able to avoid divorce altogether. However, if the mediation doesn’t work out, you can always continue with the divorce process and respond differently.
Conclusion
If you are served with a petition paper for divorce in Florida, it’s important to respond promptly. Each response has its own set of pros and cons that you and your lawyer should consider before taking any action.
Seeking a family lawyer? Dorsey Law Jax in Jacksonville, FL, has top attorneys specializing in family law, criminal law, and personal injury. Get in touch with us today!
August 18, 2022
If you’ve lost a loved one in an accident where someone else is at fault, dealing with the death can be difficult enough. But it can feel even heavier if you add the stress of trying to figure out what to do next. That’s where a wrongful death lawyer can step in to support you through this grievous time. A wrongful death lawyer can help you understand your rights and guide you through the legal process, making it a little bit easier to cope and get the compensation you deserve.
What is a Wrongful Death Lawyer?
Wrongful death lawsuits can help provide financial compensation to families who have lost a loved one due to someone else’s negligence.
Most wrongful death lawyers work on a contingency basis, which means they will not charge any fees unless they recover damages on behalf of their clients. This makes it easier for families who are grieving the loss of a loved one to pursue legal action without worrying about added financial stress.
If you have lost a loved one and believe another party may be responsible, contact a wrongful death lawyer to discuss your options. They will be able to advise you on whether or not filing a lawsuit is the right course of action and can help guide you through the process.”
What are the Benefits of Hiring a Wrongful Death Lawyer?
1. They Have Extensive Experience and Expertise in the Law
A wrongful death lawyer has extensive experience and expertise in the law, which can be beneficial when trying to win a case. They know what evidence to look for, how to build a case, and what strategies to use to get their client’s most favorable outcome. Additionally, wrongful death lawyers understand how the court system works and can navigate it effectively on behalf of their clients. This can be extremely helpful during a trial or settlement negotiations.
2. They Will Focus on Obtaining Justice for Your Case, so You Can Focus on Healing
When someone you love dies prematurely as a result of the negligence or wrongful act of another, it can be an incredibly difficult time. Not only are you grieving the loss of your loved one, but you may also be struggling with questions about how and why they died. It is natural to want answers and justice in these cases, and that is where a wrongful death lawyer can help.
A wrongful death lawyer will focus on obtaining justice for your loved one’s death. This means investigating what happened, gathering evidence, and building a case against the party or parties responsible. This can take some of the burdens off you so you can focus on healing during this difficult time. Additionally, a successful case against those responsible for your loved one’s death can also provide some closure and financial relief.
3. They Can Negotiate on Your Behalf, Saving You Time and Money in the Long Run
When you lose a loved one, money is the last thing you want to worry about. You’re grieving and likely don’t have the energy to negotiate with insurance companies or file a lawsuit. That’s where a wrongful death lawyer comes in. They can handle all of the legal negotiations for you, saving you time and money in the long run. They’ll also make sure that you receive just compensation for your loss.
The Bottom Line: Let a Wrongful Death Lawyer Help You Move Forward During these Difficult Times
If you’ve lost a loved one due to someone else’s negligence, you may feel overwhelmed and unsure where to turn. A wrongful death lawyer can help you move forward during these difficult times. They can help you understand your legal options and guide you through the complicated legal process.
A wrongful death lawyer will work tirelessly to get you the compensation you deserve for your loss. They will fight for your rights and ensure that the person or company responsible is held accountable.
If you’re grieving the loss of a loved one, please don’t hesitate to contact a wrongful death lawyer. They can help ease your burden and get you on the road to recovery.
How Can Dorsey Law JAX Help?
If you are seeking a divorce in Florida and are concerned about alimony payments, contact an experienced family law attorney today.
August 4, 2022
A high-asset divorce, often referred to as a divorce with a high net worth, frequently involves valuable assets, such as closely held business interests, stock options, deferred income, trust funds, real estate partnerships, and so forth. It seems that when more assets are involved, the divorce will get more difficult.
It’s essential to be informed of the following things due to the intricacy of a high-asset divorce so you may make the best decisions possible:
It Takes Longer
It could take some time for your high-asset divorce attorney to ascertain the precise value of the marital assets in contention. This is the main reason this form of divorce takes longer to settle.
If you’re going through a high-asset divorce, be sure you understand this and have patience. If you hurry the process, you can lose money. You can end up losing things that you own.
It’s Crucial to Handle Your Money Well
Any high-asset divorce lawyer would advise you to begin your case by first assessing your financial situation. Because the court will thoroughly study your financial records before the ruling, this is crucial.
Many people have trouble gathering financial data on their assets. Pressure can build since this process must be completed by a specific date. But it’s important to get this right. It is best to check with an experienced high-asset divorce attorney to handle your finances.
Have all your financial papers prepared before the proceedings begin to get a head start. You’ll come across as a reliable and responsible person with clear communication, which could work in your favor.
You’ll Probably Notice a Change in Your Taxes
Regardless of whether you are going through a low-asset or high-asset divorce, it would help if you considered the tax implications. Your marital assets will be subject to payment, some of which may be subject to excessive taxation.
Rich couples would be best served to be aware of any potential tax ramifications before getting divorced because divorce has both advantages and disadvantages. For instance, the property can be transferred tax-free between spouses following a divorce.
But if you don’t know how it works, you can end up paying far more than you wanted to. When the tax regulations change, an experienced high-asset divorce lawyer can help you decide how and when to modify your strategy. By doing this, you save money on additional taxes.
Property Division Could Be Challenging
In a high-asset divorce, separating the separate property from the marital property is essential. Marital property is commonly defined as any assets obtained during the marriage and is subject to joint ownership by both parties. But if one of the partners receives an inheritance while the couple is still married, it will be considered separate property and will not be distributed in the case of a divorce.
This can seem rather straightforward before considering the idea of “transmutation.” Transmutation enables the separate property to be treated as marital property by uniting the two different categories of property. Therefore, separate property may also be divided.
Divorce Is More Expensive Than Usual
A high-asset divorce is more expensive than a conventional divorce for obvious reasons. The incomes of each party as well as the worth of the marital property is typically considered in a high-asset divorce.
As a result, a divorce involving a large number of assets, such as real estate, business, or other financial assets, may also involve a large number of high-net-worth assets.
Having a knowledgeable family lawyer on your side is essential throughout this process. They’ll fight for your interests while upholding a just and painless legal process.
The Best Line of Action Is Typically Mediation
Because cases the court handles become a public record, high-net-worth couples who want to keep their divorce proceedings private may use mediation for their high-asset divorce settlement. Additionally, because it is speedier than the normal trial process, this kind of dispute resolution allows couples to make important decisions without allowing a judge to decide their future.
But this doesn’t make mediation any less difficult. Careful planning and organization are necessary to achieve the desired outcomes, which is why you should select a reputable high-asset divorce legal firm to represent you in court.
Benefits of Hiring a High-End Divorce Attorney
High-asset divorces usually involve high incomes, expensive homes, business assets, stock holdings, retirement savings, and more. To ensure fair procedures, it is suggested to speak with a lawyer from a reputed local divorce law firm.
We’ll ensure that you know all the assets, qualifications, and rights. If Florida laws affect your specific circumstances we’ll keep you informed and create a plan that works best for you.
Conclusion
It maybe necessary to audit and value business assets. The presence of a lawyer with experience in corporate asset accounting can be crucial. They’ll also be able to connect you with forensic accountants, who focus on reconstructing a spouse’s financial condition from the most basic information and valuing businesses and other assets.
To sum up, having a skilled high-asset divorce attorney on your side could be highly beneficial to your case.
You’re in the right place if you’re seeking skilled and competent divorce attorneys. In Jacksonville, Dorsey Law JAX has the top divorce attorneys. When it comes to offering legal services to clients from all across Florida, we have more than 35 years of experience. To schedule an in-person appointment, contact us right away!
