Areas of Concern and Frequently Asked Questions
Financial Effects of Divorce
There are many expenses associated with the process of divorce, but a skilled divorce attorney can help mitigate many of these expenses. Financial effects of divorce include alimony, child support, and equitable distribution.
Whether you are fighting for or against alimony, it is important to seek services from an alimony litigation attorney. Florida has unique laws outlining the rights of both spouses, and it can be challenging to understand how these laws pertain to your case.
Essentially, all property obtained during the marriage is prone to the rules of equitable distribution. But bank statements, receipts, and other documentation may help determine which items or accounts belong to one spouse over the other. Gifts given to one spouse but not the other, for example, may not be subject to equitable distribution.
F.A.Q.s
What is Alimony?
Alimony is one of the financial effects of divorce which either spouse may be affected by. When one spouse is left without means to support themselves as a result of the divorce, the other spouse may be required to provide monetary allowance to the spouse in need of support. Typically, the process begins during divorce proceedings. The spouse in need of support will request said support, and that request will be approved, denied, or modified by the court.
How Does Equitable Distribution Work?
Think of equitable distribution as a division of assets, such as property or bank accounts, in the divorce process. Marybel Reinoso Coleman, P.A. understands the complexities of equitable distribution. It can be an expensive part of divorce if you do not understand how to approach the situation properly. Items subject to equitable distribution in Florida include:
- Homes
- Cars
- Bank Accounts
- Credit Card Balances
- Possessions
- Retirement Accounts
Do I Have to Pay Child Support?
Child support is another financial aspect of divorce that should be addressed with the help of a divorce attorney. Parenting plans, healthcare costs, and the income of each parent can influence the outcome of child support results. The court typically decides the final outcome in child support matters, which is why it’s crucial to have an attorney on your side.
