So far, COVID-19 has had a profound impact on a wide range of legal matters. Life and circumstances have changed for many different people while quarantining and social distancing. COVID-19 has also had an impact on employment in America. As a result, many Americans are grappling with the financial issues from the pandemic. Attorney Aubrey Harry Ducker Jr., along with attorneys at CPLS are going to examine alimony issues during the COVID-19 crisis.
Spousal support, also known as alimony, is an issue that arises in many Florida divorces. It is the money one partner pays to the other after their divorce, generally for a fixed period of time but sometimes, until the receiving spouse remarries or either partner dies. This money is intended to help the spouse who opted out of the full-time workforce to care for the couple’s home and children during the marriage to avoid financial hardship.
In a collaborative divorce, the divorcing couple works together to make their own determinations about their divorce settlement, rather than having the court make them. Alimony is often an issue discussed during collaborative divorces alongside parenting time and the division of the couple’s marital assets.
In Florida, you Can Waive your Right to Seek Spousal Support
Florida law permits individuals to waive their right to seek alimony in the event of their divorces in prenuptial agreements. This is not the case in all states.
Just like a collaborative divorce, a prenuptial agreement requires a couple to be flexible and willing to work together to make determinations that benefit them both, even in unpleasant situations like divorce.
Waiving Spousal Support in Exchange for a Larger Share of Marital Assets
When you divorce through collaboration, rather than litigation, you and your spouse work together to reach a divorce agreement that best fits your needs. In any divorce, dividing your marital assets is a component of the final settlement and often, it is the largest component of the settlement. Talk about potentially opting out of alimony in exchange for a more favorable share of your marital assets with your spouse, but also with your lawyer privately – there could be issues you do not initially recognize, like large tax burdens associated with certain marital assets or the long-term impact of choosing not to create an alimony order.
Collaborative Divorce is All About Keeping Control of your Divorce
Couples who choose collaborative divorce are often more satisfied with the results of their divorces than couples who divorce through litigation.
If you took on lower-paying jobs or opted out of the workforce completely during your marriage, alimony is a way to protect your financial future. Do not confuse the need to be amicable in a collaborative divorce with a need to agree with everything your spouse suggests. If you feel alimony is in your best interest, explain this and support your position with relevant facts during your collaborative divorce meetings. Your lawyer is your advocate, but you also need to advocate for yourself.
Work with an Experienced Winter Park Divorce Lawyer
When you are considering divorce, you have a lot on your mind. Before you begin the collaborative divorce process, discuss these issues with your divorce lawyer so you begin the process educated about Florida’s divorce laws and what you can expect given your case’s unique circumstances. Contact Aubrey Law today to schedule your initial consultation with us.