Month: January 2018

What You Need to Know About Divorce

The majority of people do not marry with the thought of divorce in the back of their mind. However, many marriages do end in divorce. There are decisions to be made, and couples do not always agree on the separation of assets or income. There is also custody considerations for couples with dependent children.

Alimony

Although alimony is not always awarded in all divorces, it is generally paid when the husband or wife is the main breadwinner. One or the other may have been out of the workforce for several years taking care of children and the home. Alimony, when awarded, will depend on the length of time the couple was married and the ability of both to be self-supporting.

Sometimes alimony is awarded in a lump sum. Temporary alimony can be paid until the divorce becomes final, and the assets are split. Permanent alimony is another type that is sometimes awarded if the marriage lasted for many years. Permanent alimony is usually paid when one spouse is elderly, and/or in poor health, and unable to support himself or herself. It is paid until the person receiving it either remarries or dies.

A firm that offers help with durational alimony florida is Hackworth Law PA. This type is typically for marriages that did not last long and is only paid for a period of time. The alimony is not paid for longer than the marriage lasted.

Assets

When a marriage ends if the couple cannot agree on how to separate their assets, a court will decide for them. This can include the home they shared, stocks or other investments, pension plans, automobiles, and bank accounts.

The assets that are considered are the ones acquired while the couple was married. Assets that belonged to one or the other before they were … Read the rest