Spike in silver divorce caused by a variety of factors

0 Comments

Some senior citizens in Florida are part of a growing group that they probably never thought they would be in — silver divorce. A recent study by demographers at a university shows that while the divorce rate has gone down or remained consistent for some groups, in the aging “silver” population, that divorce rate has suddenly spiked. In fact, the rate of divorce per 1,000 women age 65 and older has gone up to around five times what it was in 1970.

Some are attributing this spike to one spouse suddenly deciding to divorce after the children are all out of the house. That, however, is one of the many reasons why this population might be heading to divorce court. Another plausible reason is that as a whole, this group isn’t going to deal with a lukewarm marriage. Mediocrity seemingly isn’t acceptable for them. Finally, the mainstream acceptance of divorce seems to have come into play because the stigma of divorce that was present in the past is not present now.

For some senior citizens, being married to a second or subsequent spouse is the reason for the divorce. Ex-spouses and adult children from previous marriages might place a strain on the new marriage, which could lead to divorce.

No matter what the reason for the divorce, it is important for this aging population to make sure that they are protected during the divorce. Knowing about asset division is one way that they can make sure they have the best possible settlement that will help them as they try to enjoy all life has to offer them for their remaining years.

Source: The Daily News Online, “Suddenly single: Boomers lead the way in silver divorces” Ana Veciana-Suarez, May. 05, 2014

Same-sex couple facing asset division challenges in Florida

0 Comments

Under normal circumstances, a Florida couple seeking a divorce is not really considered news. What happens, though, when a same-sex couple attempts to dissolve their marriage in this southern state? Since Florida does not recognize same-sex unions, divorce becomes a tricky matter, and dividing marital property is suddenly a serious headache. Now, two women who are seeking a divorce in Florida are pushing for marriage equality in the state — not so they can wed, but so they can “untie” the knot.

The couple in question married in Massachusetts four years ago. That state is one of 17 that permit same-sex unions throughout the nation. Florida does not recognize same-sex marriage.

When the couple decided to pursue a divorce, they consulted experts in Massachusetts for advice. The answer was disheartening: They would have to move back to Massachusetts for a year before they could officially file. Since that life-changing move was not feasible, one of the woman chose to file for divorce in Florida, anyway.

Even though news reports show that judges in the state of Florida have granted same-sex divorces in the past, those cases have largely flown under the radar. Now, this couple is striving to bring those asset division cases into the light by claiming that a ban on same-sex marriage has a deleterious effect on same-sex divorce, not to mention the fact that it is unconstitutional. The couple in this case have already come to a legal agreement about dividing their marital property through collaborative methods, but they are still pursuing additional rights through the Florida court system.

Many Florida couples struggle through the asset division phase of their divorce. A Florida attorney may be able to provide additional information and assistance to ensure that clients receive their fair share of the marital estate. These professionals may serve as important allies in a divorce courtroom or mediation proceeding.

Source: Tampa Bay Times, “Tampa couple’s divorce could challenge same-sex marriage ban” Leonora LaPeter Anton, Mar. 24, 2014

Florida couple can divorce thanks to stronger economy

0 Comments

A couple in Florida has wanted to get a divorce for years, but they felt that it was impossible because of the state of the economy. Putting aside their emotional and romantic issues, they stayed married when they both mutually wanted to split, putting their struggling business ahead of their personal relationship. They needed each other if they were going to have any chance to make the business work, and the economy was just too weak to sustain it unless they were in it together.

The problem was that they were facing a complex asset division situation. They both owned the business, so they were not sure how it would be divided. The husband wanted to keep it, but it was not making enough money for him to pay off his wife’s share and buy her out. The only real way to divide it may have been to liquidate it, something else that is not a sure bet in a struggling economy, and then divide the money. If they did that, the business would be gone. All of those jobs would be lost.

Now that the economy has strengthened again, the company has expanded, adding new employees and earning far more than it was for the past few years, and the couple has finally gone to court to file for a divorce. They are both equally happy with the decision. All in all, they are just glad that they can finally move on with their lives in the way that they have been wanting to for so long.

Divorce situations that involve a business can be very tricky because both sides have a right to the value of that business if they both put money and time into it. It becomes an asset that must be divided. In a recession, this can make a divorce financially difficult, and so divorce can act as an indicator of a healthy economy.

Source: Businessweek, “Worsening U.S. Divorce Rate Points to Improving Economy” Steve Matthews, Feb. 18, 2014

White Stripes founder and former wife finalize divorce

0 Comments

Deciding to end a marriage is not an easy decision, but it is a common occurrence. When a couple has children and is affluent, such as one with substantial business assets, it can take some time to ensure an equitable division between the spouses. Also, the issue of child custody and visitation has to be worked out. Orlando readers who might have been following one of the several high-profile divorces that have been ongoing might be interested to know one of the divorces has been finalized.

Musician and businessman Jack White and model and singer Karen Elson have finalized their divorce. The divorced was finalized in Nashville, the same place where the couple was married in 2005. Elson filed for divorce in 2012.

White will retain his business holdings, the majority of which are music-related and include The Raconteurs, the White Stripes, Dead Weather and his music label, Third Man Records. For White, this was most likely a key part of the asset division, since his career revolves around these ventures and to split them up between the couple could have been a financial setback for White. No other mention of asset distribution between the two was made.

Elson was named the primary residential parent for the couple’s two children. White will have the kids roughly 150 days a year. It wasn’t mentioned if this included school breaks, summer vacations or holidays, but for a noncustodial parent to receive that many days of visitation, it most likely does mean the couple will divide holidays and summer vacations between the children. A judge signed the decree on Nov. 26.

Dividing marital assets and deciding about the children is often a major obstacle for a divorcing couple. However, attaining advice from an experienced legal professional can ensure both parties receive an equitable settlement that is suitable for all parties involved.

Source: Huffington Post, “Jack White, Karen Elson Divorce Finalized” No author given, Dec. 12, 2013

Don’t forget these critical steps leading up to your divorce

0 Comments

Whenever a couple files for divorce, there are plenty of things to handle on the legal side. The divorcee neds to deal with property and asset division; possible alimony; and the enforcement of any prenuptial or postnuptial agreements (if they are present).

But in addition to the legal and procedural aspects to a divorce, any divorcee needs to perform a number of personal tasks as well to ensure that the divorce is a successful one. Many people are not aware of these crucial steps in the divorce process; they may skip them entirely, culminating in disastrous results. So here are a few things to remember when you file for divorce:

  • Do a little housecleaning… but not necessarily literally: You want to find some important documents that pertain to your personal, financial and legal holdings. For example, past tax filings are important to have during a divorce, as are records of credit card bills and bank accounts. You’ll also want hypersensitive documents, such as paperwork that pertains to wills or estates.
  • If you have kids, address child custody and support issues as soon as possible: How much will you pay, or receive, in child support? How will you and your soon-to-be-ex split payments for college tuition? Whose health insurance plan will your child be placed under? You’ll want to know where you and your spouse stand on these things, and subsequently handle them in an appropriate manner. Reaching an agreement before going to court can be greatly beneficial.
  • Prepare for the claims you want to make: Consult an attorney so that you can build the best possible case for earning retirement benefits, valuable assets and other things involved in your divorce that you really want.

Source: Huffington Post, “We’re Getting A Divorce, Now What?,” Linda Descano, July 29, 2013