If you’re having marital problems in Florida, there may come a time when you decide to get divorced. You may need to deal with three essential areas: alimony, protecting your kids and dividing retirement accounts. Ensuring all of these areas are handled correctly is important when you want to avoid time delays or significant challenges.
One spouse may need to make alimony payments
One spouse may be required to pay alimony to the other after or during the divorce process. This court-ordered payment was developed to make it financially easier for an ex-spouse to pay bills when they don’t work. Five types of alimony payments can be used in the state, which can include the following:
Dividing retirement accounts during the divorce process
Another area during a divorce that must be handled properly can include the division of retirement accounts.
The state where you reside plays a significant role in how 401(k)s or IRAs are divided when getting divorced. Retirement accounts that accrue earnings during your marriage will likely qualify as marital assets that can be divided. However, premarital retirement savings are considered separate property.
Since you don’t live in a community property state, there will be an equitable distribution of your marital assets according to state regulations. In this context, “equitable” means that a fair split is performed, which may not be precisely equal. When dividing a Florida retirement plan, factors associated with the following may be considered:
- Length of the marriage
- Contributions from each spouse to the fund
- Fund establishment date
Receiving assistance from a legal professional is essential due to the nuances associated with state divorce laws.
Handling children when getting divorced
The divorce process can be more challenging when children are involved. Unfortunately, a large majority of divorce cases have kids involved. When this is the case, a few essential decisions will need to be made. These decisions involve who the children will stay with after the divorce. Another factor in this type of case is determining how much will be paid in child support to the parent providing them housing and clothing.
When going through a challenging divorce, following legal regulations can be crucial. Abiding by the rules stipulated by family law can help ensure the process goes as smoothly as possible.