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…

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. …

Accident and Divorce in Naples, Florida

My Spouse Got An Injury Settlement in Naples, Florida. Is The Money From That Lawsuit A Marital Asset?

In Florida, property that was earned during the marriage is, by default, marital property and will therefore be split most of the time 50/50 between the two parties. Many settlements, however, aren’t to reflect money earned in the marriage but rather are to make up for lost earnings in the future.  Florida divorce law says…

Collier County property division

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. …