Fort Walton Beach Lawyers Explain Divorce Concepts

In Florida, divorce cases are essentially the separation of two lives and creating a new start. The divorce requires the couple to forge a new agreement that divides everything they own together. If the couple has children, the court requires them to set up a parenting plan to split time with their child.

Prenuptial Agreements and Alimony

The terms of prenuptial agreements outline alimony payments. The couple agrees before they are married about how much alimony either spouse receives after a divorce. The agreement defines how many years the couple must be married before alimony is available. Prenuptial agreements are enforced in Florida even if the agreements were established in the state.

Dividing Debts Incurred During the Marriage

Couples divide debts they incurred during the marriage. Typically, the court reviews the debts and the account holder’s information. All joint debts are split evenly, and individual debts are the responsibility of the account holder. However, if the debt helped the other spouse with college tuition or the acquisition of new assets, the debt is divided between both parties.

Managing Tax Implications Related to the Divorce

During a divorce, tax implications accumulate under certain circumstances. When a property is sold or transferred, the couple pays taxes. The income tax returns are managed according to the couple’s marital status on the last day of the previous year. Any property taxes or taxes the couple incurred due to stocks or dividends are managed through the divorce agreement.

Choosing a Custody Type

The court offers two basic types of child custody. Joint custody gives both parents rights to the child, and they made decisions together. Sole custody gives one parent the right to make decisions. In sole custody arrangements, the noncustodial parent receives supervised visitation and is monitored by a caseworker.

In Florida, divorce cases start with an assessment of any previous agreements established. Prenuptial agreements are enforced in Florida and require each party to fulfill their obligations as directed in the document. Debts incurred during the marriage are included in the divorce agreement along with tax implications. Petitioners who want to learn more about divorce laws contact Fort Walton Beach lawyers right now.