June 2018 Archives

How divorce may affect retirement preparation

Some people in Florida who get a divorce may suffer financially, and it could extend into retirement. Furthermore, with divorce among older people on the rise, it is increasingly likely that more people may struggle during retirement with less time to recover financially. The Center for Retirement Research at Boston College found that households that have been through a divorce are 7 percent more likely to have to lower their standard of living.

How disability can affect child support payments

For families in Florida who rely on child support payments for ongoing sustenance, parental disability can have a major impact on their financial health. Due to disability, a non-custodial parent may no longer be able to fulfill their child support obligations as provided for in the initial order, as their own income may substantially decline. While disability does not automatically change or lower the child support award, the practical reality is that an acquired disability can substantially affect the amount of income available.

What can you do to make child custody plans easier to follow?

Children who have divorced parents can often feel like they are being pulled in two different directions. Parents can prevent this from happening by working together to rear the children even though they are no longer married to one another. Finding ways to share the responsibilities can help with this aspect of life after divorce.

Gaming the child support system

The gig economy in Florida and throughout the country has created more flexibility for individuals to earn money on their own terms. The independence and flexibility of this type of economy allows many to manipulate the tax system to their advantage. Many are using the system to avoid having to pay child support.

Public assistance can spur a child support case

In Florida, many single parents are struggling to make ends meet. This can especially be true after a separation from a partner who once provided the majority of the income for the entire household. Single parents who are lacking sufficient financial support to cover the necessary expenses of life may turn to the state or federal government to seek assistance with medical care, food costs, housing or other matters. When this happens, the government will inquire about whether the single parent is currently receiving child support to help provide for the child's expenses.

7 ways people try to hide assets

Your spouse needs to offer full disclosure of all assets during the divorce, but you worry that he or she is going to try to hide some assets from you. After all, your spouse has always been in charge of the family finances. The divorce filing did not exactly put you on the best of terms, and you think your spouse may be interested in getting back at you in whatever way is possible -- even if it is illegal.

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