Schwam-Wilcox & Associates, Attorneys and Counselors at Law
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March 2014 Archives

Dividing assets in a high net worth divorce

Individuals in Florida who are going through a divorce may be wondering what to do with some of their assets that are not yet liquid. One spouse may be holding something like unexercised stock options that belong to both spouses as marital property but do not yet have any value. In these cases, a judge may order the spouse holding the asset to award the other spouse a certain amount of money over time as a means of equitably distributing the value.

Protect your ASSets

There are actions you can take in protecting your assets prior to getting married, during a difficult time in the marriage, and after a decision to divorce/dissolve you marriage. The first step in protecting your assets is to have a pre-nuptial agreement. This is not just a 2 or 3 page agreement to be created two (2) weeks before your marriage, this is a thought out process with complete disclosure and language to protect what you have, and what you can potentially gain during the marriage. This is not something that is necessary for every relationship; however, for 2nd marriages, it may be a useful tool to protect assets that you would want for your children and not for a spouse. During a period in your marriage if you believe that a separation may be inevitable, you may want to protect yourself with a post-nuptial agreement, this is similar to a pre-nuptial agreement, but you are already married. During the process of a divorce/ dissolution, there are rules and procedures that will be followed to protects your marital assets and determine what could be considered pre-martial or non-marital. Here at Schwam-Wilcox & Associates, we can guide you through any procedure you need in order to protect your ASSets. You can reach us at camy@cbswlaw.com or call us at 407-245-7700 to schedule your consultation, or to learn what you need to do in your particular situation. You can also visit our website at www.cbswlaw.com.

No Fault Divorce

The State of Florida is a "no fault" State, what does that really mean? Well, either party can file for a divorce/dissolution for any reason, and there cannot be a punitive action regarding the grounds. For example, in Florida, one party cannot "refuse to give the other a divorce", and in Florida if a spouse has an extramarital affair that does not matter, nor does it really have much of an effect on the case itself (some examples of when it may become relevant is if the affair dissipates marital assets or puts the children in danger). All the parties have to prove is that the marriage is irretrievably broken...what does that mean, and do you have to give examples? Well what it means is that the marriage cannot be fixed, and you will have to give the judge a factual basis (reason) for the divorce...examples are: domestic violence, infidelity, lengthy separation, fraud, etc. No fault does not have anything to do with if the dissolution action is uncontested or contested, it just means, that no action causing the divorce has punitive consequences. For more information about dissolution, you can contact the attorneys by calling 407-245-7700 or e-mailing to camy@cbswlaw.com to schedule your consultation. You can also visit our website at www.cbswlaw.com.

CFAWL FASHION SHOW AND FUNDRAISER

It is that time of year again for CFAWL to raise money for A Place for Children (the day care at the Orange County Courthouse) and our bar scholarship. It is a fun night of Fashion, Friends, Food and NETWORKING... there will be professions from all over the Central Florida Area. Come join us for some cocktails, munchies and an extremely entertaining fashion show... you can also be a sponsor. For more information e-mail me at camy@cbswlaw.com. Encourage all your friends to join you for this amazing night out!

Social media pitfalls to avoid during divorce

Florida readers may be surprised to learn that the simple act of blowing off steam online during a divorce can have serious financial and legal repercussions. Divorce experts interviewed on the Huffington Post suggested the following ways to avoid social media pitfalls during a divorce.

Citigroup executive's salary revealed in child support trial

Florida parents dealing with child support issues may be interested in one man's efforts to keep his income under seal in a child support modification trial. The man's ex-wife is looking to increase the monthly payment due to the father's increased salary.

Man hides assets to avoid paying support, gets 17 years in prison

Some single and re-married Florida parents have probably had the experience of fighting to receive child support payments that are due to them. Certain individuals who are ordered to pay support will go to great lengths to avoid making these payments, even though failing to comply with support obligations is illegal. While some may simply fail to make payments in a timely manner, others may illegally conceal income to avoid child support orders in the first place.

Increase in pet disputes

According to a recent survey of matrimonial lawyers, there has been an increase in cases concerning pets in Florida and other states as part of divorce proceedings. Because of the important companion qualities of family pets, more courts are hearing arguments regarding pets during the divorce process.