15 July

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Smart Retirement Planning After Divorce: Handling Alimony Changes in Florida

Retirement is a phase for relaxation and enjoyment after years of work. However, it may take a different path post-divorce. You may find yourself reassessing and managing your finances as an individual for the first time in a while. Don't fret – whether you're adjusting alimony or reevaluating your retirement savings plan this guide is designed to help you steer through these changes with clarity and confidence. Let's delve into how these changes impact your retirement plans in Florida! Alimony Laws in Florida To begin, let's discuss what alimony means. In Florida alimony refers to the assistance that one spouse may have...

29 May

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Understanding the Elimination of Permanent Alimony in Florida

Posted by Josh Fowler

in Alimony

As of July 2023, a significant shift occurred in Florida's alimony laws, thanks to Governor Ron DeSantis signing SB 1416. This landmark legislation marks the end of permanent alimony after years of debate and previous vetoes. Let's delve into what this means for couples undergoing divorce proceedings in Florida! What’s the Deal with Alimony Anyway? Alimony is essentially financial support one ex-spouse pays to the other post-divorce. Imagine it as a subscription service where instead of streaming movies, you're ensuring your ex maintains a lifestyle similar to the one during your marriage. This concept has been evolving rapidly, particularly in Florida. The Old...

07 February

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Unequal Distribution of Marital Assets in Florida Divorces: A Comprehensive Guide.

Posted by DeWitt Law Firm, P.A.

in Alimony

While the division of assets in a divorce case may seem simple, there are complex nuances that often arise. In certain cases, the court may allow for an unequal distribution of marital assets. It is important to know when an unequal distribution of assets is warranted and under what circumstances a judge may consider awarding such a distribution. An unequal distribution of assets is permitted pursuant to section 61.075, Florida Statutes. It is important to note that there is no requirement for your attorney to plead for an unequal distribution in your divorce petition. The attorney can simply request an...

09 November

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What are the Tax Consequences of Alimony in Florida?

Posted by DeWitt Law Firm, P.A.

in Alimony, Divorce, Family Law

If you thought alimony was just about supporting your ex financially after a divorce, well, strap in, because we're diving into the less talked about, but equally important side of it—the tax implications! In Florida, the sands of the beaches aren't the only things that shift; tax rules on alimony do too, and they can have a big impact on your wallet. Alimony in Florida: A Quick Recap First, let's get everyone on the same page. Alimony, sometimes called spousal support, is a financial payment one ex-spouse may be required to make to the other after a divorce. Its purpose? To prevent...

06 November

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New Tax Bill Eliminates Alimony Deduction in Divorces in 2019

Posted by DeWitt Law Firm, P.A.

in Alimony, Divorce, Family Law

alimony deduction tax bill 209 dewitt law firm

UPDATE: Permanent Alimony Eliminated in Florida Alimony Law, 2023 Governor Ron DeSantis signed legislation on Friday (SB 1416) overhauling divorce law in Florida. The most sweeping change eliminates permanent alimony and revises the factors that courts must consider when awarding alimony. The new law took effect on July 1. The bill is not retroactive and will only apply to divorces filed on or after July 1, 2023. As of January 1, 2019, the alimony tax deduction will cease to exist. This means that alimony paid by a spouse will no longer be tax deductible. Further, the spouse receiving alimony will no longer claim...

10 May

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Will Governor Ron DeSantis Sign Florida’s 2023 Alimony Reform Bill?

Posted by DeWitt Law Firm, P.A.

in Alimony, Florida Law

UPDATE: Governor Ron DeSantis signed legislation on June 30 (SB 1416) overhauling divorce law in Florida. The most sweeping change eliminates permanent alimony and revises the factors that courts must consider when awarding alimony. The new law took effect on July 1. The bill is not retroactive and will only apply to divorces filed on or after July 1, 2023. Florida Alimony Law 2023: Permanent Alimony Eliminated Florida's legislature recently passed a bill that aims to change the state's alimony laws, which have been a contentious issue for many years. The bill, known as SB 1416, would revise the factors that courts must...