Many times, a couple who is going through a divorce or a legal separation will have a lot of their wealth stored up in one or more retirement plans. These sorts of plans can include 401(k)s or other work-related plans, as well as private retirement funds like an Individual Retirement Account, or IRA.
As many residents of Lakeland, Florida, may remember, Congress passed a major overhaul to the tax code about a year ago. As part of this change, Congress decided to alter the way alimony, which may also be referred to as maintenance in Florida, is handled for income tax purposes.
Contrary to a popular misconception about them, there is nothing inherently wrong with having an offshore bank or investment account. As the name implies, an offshore account is simply an account held by a foreign financial institution at a non-domestic situs. As long as they follow all applicable laws and are candid about the existence of the account, many residents of Lakeland and other parts of Central Florida may realize a lot of financial and other advantages of putting money into them.
The family home is the place where pleasant memories are made. For this reason, sometimes when a couple in Florida divorces, both parties wish to be awarded the family home. They may see the family home as both financially and emotionally valuable, especially if they are awarded custody of their child and wish to disrupt their child's life as little as possible. However, there are certain aspects of owning a home post-divorce that each party should consider before deciding whether or not to fight for it.
Poor communication between couples is the leading cause of divorce. When couples don’t feel heard, understood or respected, it creates a fast track to the relationship’s termination. Maybe you learned your communication style from your parents—or from previous relationships. However, since poor communication in relationships is so pervasive, learning through imitation may not be the best approach.