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Florida Law Declares Beneficiary Void After a Divorce

If a former spouse is listed as a beneficiary of a life insurance policy, that spouse is voided as a beneficiary after a divorce pursuant to Florida Law. This provision also applies to employee benefits plans, retirement accounts, payable upon death accounts, other accounts that are payable upon death, and annuities or other similar contracts. After a divorce in the state of Florida it is important to update the beneficiary on all of your accounts, as your former spouse will be automatically voided as the beneficiary. This means that the benefits will pass pursuant to Florida Law, rather than as...

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How to Minimize Your Alimony Obligation in a Divorce

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Alimony in Florida is based upon need and ability to pay. In other words, the court must determine (1) if the spouse requesting alimony has a need and (2) if the spouse paying alimony has the ability to do so. Need is determined by looking at the standard of living during the marriage and the financial resources available to each party, along with other relevant factors. A court usually does this by reviewing the financial affidavits and hearing testimony of the parties. However, the court must evaluate all sources of income available to the parties when evaluating whether alimony is...

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When Should I Consider a Collaborative Divorce?

In a collaborative divorce, the couple commits to trying to work things out themselves, outside of the courtroom. Typically, each party will have a lawyer, and oftentimes a financial and mental health neutral are also part of the process. A financial neutral is involved because there are many financial decisions that will need to be made during the process and it is helpful to both parties to have a financial neutral present to go over all of the numbers and to explain how each party will fare financially after the divorce. A mental health neutral can help if...

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6 Reasons You Need a Prenuptial Agreement

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A prenuptial agreement is never a romantic proposition. However, having a tough conversation with your spouse now, may help alleviate a lot of heartache in the future. Divorce litigation in Florida can be lengthy, stressful, and expensive. While no couple ever anticipates a divorce, a prenuptial agreement acts as a safety net in the event a divorce becomes necessary. Depending on your circumstances, it may be a good idea to execute a prenuptial agreement. 1. You own a business. If you own a business, you need a prenuptial agreement. The business or any increase in the value of the business may be...

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DeWitt Law Firm, P.A.
Business Address:37 North Orange Avenue, #840,Orlando,Florida,32801,US |Tel: 407-245-7723 |Email: dewitt@dewittlaw.com.
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