Age and Divorce in Collier County

How Does My Age Affect My Naples, Florida Divorce?

Elderly or grey divorces are becoming more and more common. Age can be a factor in Florida divorces insofar as it impacts alimony. Obviously, it is more likely for an older person to qualify for statutorily mandated permanent maintenance because it is more likely that an older person has been in a 17+ year marriage. Age…

Dividing Marital Property in Collier County, Florida

What Is Marital Property In Naples, Florida?

In a Florida divorce, a couples’ assets and liabilities will be totaled and categorized as either being marital or non-marital.  Once property is identified as marital the courts will find that, upon divorce, the property should be divided equally.  Fla. Stat. Sec. 61.075(1). Non-marital property shall be assigned or left in the spouse’s name whose…

Distribution of Marital Home in Collier County, Florida

Who Keeps The House In A Naples, Florida Divorce?

In Florida, the time of the purchase of the house will often determine who keeps the marital home. If the house is purchased after the marriage with funds that either party earned after the marriage then the house will be considered marital property.  Marital property will be typically be split equally (50/50) by the courts. …

Division of marital assets in Collier County, Florida

How Are Assets Divided In A Naples, Florida Divorce?

95% of divorces in Naples, Florida are settled via negotiations.  The Collier County Court may help at times refine and eliminate issues via temporary orders but most final decisions regarding a divorce are done so by agreement. If the two parties agree, the court merely needs to find that the agreement was not unconscionable or…

Divorce and Pensions in Collier County, Florida

What Will Happen To My Pension In My Naples, Florida Divorce?

Pensions are typically referred to as defined benefit retirement plans as they provide a guaranteed income according to a specific formula after retirement. Defined benefit retirement plans are differentiated from defined contribution plans like 401ks, 403(b), and IRAs.  Defined contribution plans have an actual number value of assets in them that can be cashed out…

Reverse Mortages in Collier County, Florida

Reverse Mortgages and Divorce in Naples, Florida

Reverse Mortgages are a unique, government sponsored, FHA insured financial product that can be extremely useful in a divorce. Oftentimes, divorces are caused by extreme financial stress.  One party is constantly starting businesses, losing the business, gambling or spending every available dollar.  The marital home becomes a back-up savings account, in that the mortgage payments…

Retirement plan and divorce in Collier County

What Will Happen To My Retirement Plan, IRA or 410k In My Naples, Florida Divorce?

Florida divorce lawyers often refer to the typical client as a “W2 employee.”  This is the type of person whose income is derived from working for someone else, not a series of exotic assets like self-owned businesses or investment properties.  W2 employees typically only have two major assets: their house and their retirement accounts. Dividing…

DIvorcing when owning a business

I Own A Business In Naples, Florida And Am Getting A Divorce.  What Will Happen?

In Florida, a business is considered an asset and like all assets in a divorce, it must be ascertained whether that business is a marital or non-marital asset. If the business was established before the marriage, the asset is likely to be considered non-marital and thus the property of the party who established the business. …