How a dependence tax deduction is determined

Photo by bambino.

Even when parents have shared custody, it rarely works out where the child spends an even 50 percent of his or her time with both parents. The IRS gives the parent who had custody of the child the most throughout the year a tax break. Even if your divorce decree states that you share equal custody, both parents cannot receive the tax break. Below are ways to determine which parent can claim a dependent on their taxes:

The parent who spent the most days throughout the year with the child can claim him or her as a dependent. If you had your child 55 percent of the time and your ex had your child 45 percent of the time, you may claim a dependent.

If your child in fact did spend exactly half the time with both parents, the parent with the highest adjusted gross income gets to claim your child as a dependent.

Waiving the dependent tax deduction

A divorced couple can agree to terms on their own to allow one or the other to claim their child. The one who qualifies to claim the dependent can waive the deduction. In order to do this both parents must still pay 50 percent of the child’s living expenses for the year and the equal custody agreement must be memorialized in a court ordered divorce decree. If you and your ex agree to these terms, the one waiving the dependent can sign IRS Form 8332, giving the other the ability to claim the child as a dependent.

Factors That Go Into a Child Custody Decision

Photo by pixabay

The following are the factors a judge considers when making a decision about child custody:

• your child’s age
• the mental and physical well-being (or lack of it) of each parent
• each parent’s care taking capacities and the home environment that each parent could provide to the child
• the role of each parent thus far in taking care of the child
• the child’s relationship to each parent
• the time available to each parent to be with the child, as the judge may wish to maximize the child’s time with a parent as opposed to a babysitter or daycare center
• the environment that the parent can create for the child
• the presence of siblings in the family and the siblings’ relationship to each parent and to each other
• prior bad acts of either parent (as, for instance, abuse and neglect)
• parental drug or alcohol problems
• religious factors
• the willingness of each parent to keep the other parent involved in the child’s life and to facilitate the other parent’s access to the child
• each parent’s adult relationships including non-marital sexual relations.

In the long run, the judge wants to do what’s best for the child. If time sharing and 50/50 custody is a possibility for the child, that will be the plan set in place.

How to Divide Your Assets in a Divorce

Photo by rawpixel

Before a divorce can be granted, all of the couple’s assets must be divided in a way that is agreed upon by both parties. This can get really difficult when it comes to the couple’s home, vehicles, securities, valuable collectibles, retirement benefits, and household items. But if you can both agree, it will make the divorce process quicker and easier. The following may help you divide your assets amicably:

Make a list

Make a list of all of your assets with your spouse. You should include your home or any joint property (land, a vacation home, lake cabin, etc), all vehicles, bank accounts, securities (stocks, bonds, money market accounts, CD’s), valuable collectibles, household items including furniture and appliances, and retirement savings and plans.

Play Nice

If you and your spouse can make a list in an amicable way and agree to how you’re going to divide your possessions you can save a lot of time and money. When there are property disputes, a third party has to be brought in to help you come to an agreement. Ninety percent of divorces are settled without a trial. Seeing a divorce mediator or hiring a divorce attorney can help you handle your property division.

Dividing the House and Car

The home and cars are often the cause of dispute in a divorce. The home is usually given to the parent with primary custody of the children if there are any. The car is more complicated and isn’t necessarily given to the spouse who solely holds the title.  The car may become marital property and given to a spouse depending on how much it’s worth.

Photo by detenzione.

Are You Entitled to Alimony?

Deciding if a spouse will be awarded alimony in a divorce is relatively simple. When one spouse makes significantly more money than the other, that spouse will probably be required to pay the other alimony. But, if both make around the same amount each year, neither is usually required to pay alimony.

How is Alimony Set by the Court?

Determining whether a spouse will receive alimony after a divorce is the easy part. Determining the amount to be paid isn’t as simple. The following factors are considered when determining the amount of alimony to be paid:

• how much money each person could reasonably earn every month
• what the reasonable expenses are going to be for each of them
• whether an alimony award from one to the other would make it possible for each to go forward with a lifestyle somewhat close to what the couple had before they split—known in divorce law as “the standard of living established during the marriage”

If there isn’t enough money for both parties to establish a standard of living close to their marital standard of living, judges may look for ways to make the divorcing party share in the financial pain equally.

How Long Do Alimony Payments Last?

The amount of time alimony is required to be paid varies from each couple. Payment are usually always paid each month and can last until:

• a date set by a judge several years in the future
• your former spouse remarries
• your children no longer need a full-time parent at home
• a judge determines that after a reasonable period of time, your spouse has not made a sufficient effort to become at least partially self-supporting
• some other significant event, such as retirement, occurs, convincing a judge to modify the amount paid
• one of you dies

Every case is different, and not every divorce is as easy as determining who makes more. Contact us to speak to a divorce lawyer and ensure you get what you deserve.

What Happens Next

When a relocation is requested, a parent is required to submit a new parenting plan if the current parenting plan is unable to be fulfilled. This means, that if a parent has regular weekend visits under the current plan and the relocation will cause those weekend visits to be impossible, the relocating parent must submit a new parenting plan. This new parenting plan should account for the relocation in the visiting terms.

Photo by William Grimes.

However, even if a new parenting plan is submitted, the relocation can still have objections. After a parent is notified of a relocation proposal and they contest, the child cannot be legally moved until a hearing takes place. The hearing will usually be the time where the parent who objects can bring up their concerns and proof of negative consequences of the relocation for the child. Depending on the severity, the negative consequences may be enough for a judge to reject the relocation proposal.

In most cases where there is regular visitation between both parents, judges go into relocation situations with two assumptions: either option is not good for the child and the parent will move no matter what. The judge usually understands how difficult the move will be on the child. Either way, they are being taken from their home or their parent. In addition, the judge doesn’t typically rule that a parent cannot move, they’re simply called in to decide whether or not the child can move with the parent.

Always Consult a Family Law Attorney

If you’re considering moving and taking your child with you, consult a lawyer as soon as possible. The future for you and your child seems less chaotic when you know what to expect in this process. The attorney can provide consultation and clarification for you so this time doesn’t seem so stressful.

Florida Property Division

Photo by Matthias Zomer

Florida’s laws regarding property division call for equitable distribution of property between the two spouses. This means that in most scenarios, you can expect your house and belongings to be split fairly between you and your spouse. However, there are instances where there are exceptions to this law. Each case is judged individually, so in a divorce where a judge may see equal property division as unfair, the judge will then look at other factors to determine how the property will be split. In these types of cases, the judge will look at several factors including but not limited to:

• Spousal contribution or interruption to the other spouse’s education or career opportunities
• Spouse’s financial status
• The length of the marriage
• Destruction or waste of marital assets
• Contributions made to improving shared assets

As always, each case is different. There are many things a judge will look at if they feel equal property division during a divorce would be unfair. Consult with your divorce lawyer for more specific information regarding your case.

Adultery is the exception to Florida’s no fault divorce

Photo by Angela Soekhlal.

Effects of adultery on child custody
Adultery can affect how child custody is arranged because when the court considers this aspect, they take moral fitness into consideration. If one parent can prove that the other’s adultery is likely to have a negative impact on their child, the judge might limit that parent’s custody or visitation.

Effects of adultery on property division
Adultery can also affect how marital property or debt is divided. If one spouse can prove that the other used their money on their non-marital partner on things like gifts, trips, apartment rent, car payments, and dinners, that can be considered a waste of marital assets. Then the court may reduce the adulterer’s share of marital assets to compensate the other spouse.

Effects of adultery on alimony
In Florida, adultery is a factor that is considered when determining alimony, but courts struggle to pair adultery with the no fault concept. When a judge makes this decision, they usually only increase a wronged spouse’s alimony if the adulterous spouse’s non-marital relationship increased the wronged spouse’s monetary needs.

If you would like to speak to a divorce lawyer, contact us here.

Why you should have a prenuptial or postnuptial agreement

It encourages financial unity in a marriage

A prenuptial agreement brings each individual’s finances to the spotlight and it forces a couple to talk about any financial issues they may have just ignored. A prenup helps a couple not only consider what should happen if they get divorced, but what should happen during their marriage so that they always remain financially stable.

It provides reasonable terms for division of property

Deciding how assets should be divided shouldn’t be during a time of conflict. Creating a prenup allows you to decide this during a time when your emotions are in check and when you want the best for the both of you. This way if you do end up getting a divorce, you have more time to spend healing instead of fretting over the details.

It protects your children’s financial future

If you have children from a previous marriage, a prenup can ensure they get the inheritance they deserve if you were to pass away. Often times the stepparent ends up taking half of their inheritance in a divorce and a prenup ensures that doesn’t happen.

Speak to a divorce lawyer

If you would like to speak to a lawyer about creating a prenuptial or postnuptial agreement, contact us here.

Sighs that it might be time to get a divorce

Photo by pixabay.

If you and your spouse have excessive negative interactions
Weigh your positive interactions with your negative ones. Psychologists believe that in order to have a happy marriage, positive interactions should outnumber negative ones five to one. Although many people say that even small arguments are not indications of marital problems, if you’re constantly mad or annoyed with your spouse it may be a sign that you need a break.

If your arguments are severe
Very severe and hurtful arguments are the main sign that you need a divorce. It’s unhealthy to constantly tear down or be torn down. Arguing is a normal part of marriage but it is not normal when arguments are frequent and insulting. If you can’t resolve conflicts by sticking to the single topic, it may be a sign you need a divorce.

If you share different values
Knowing when to divorce revolves around knowing when you’ve reached that point where your core values are so different than your spouse’s that you’ll never find common ground. Sometimes you have to look towards the future and decide if your partner’s vision of the future is acceptable for you.

If your spouse was unfaithful
Unfaithfulness is one of the biggest cause of divorce. While some couples can recover from the pain of an affair, others take it as validation that the marriage needs to end. There are usually always underlying problems that leads someone to be unfaithful, and not having that trust in a marriage can lead to its end.

Hiring a divorce lawyer in Florida

If you would like to speak to a divorce lawyer, contact us here.

In the state of Florida, child custody and visitation is referred to as time-sharing. The courts believe that it is usually always in the best interest of the child to have equal time-sharing schedules, and you should have a plan that shows when your child spends time with each parent.

Creating a time-sharing schedule

Your time-sharing schedule should include:

• An everyday schedule that shows when the child is with each parent on weekdays and on weekends
• A holiday schedule that shows which parent the child is with for holidays
• A summer break schedule that shows when the child is with each parent during summer break

Other things to consider as you make your schedule:

• Florida courts encourage parents to work together to make a schedule they both like
• Your schedule should give your child frequent and consistent contact with both parents
• Your child’s age usually determines how long and how frequent visits are
• Usually all the children in a family stay together for time-sharing
• If parents are not able to agree on a schedule, the court will establish the schedule

Having the courts establish a time-sharing schedule

Photo by skitterphoto

Courts in most counties in Florida follow similar guidelines when setting up a time-sharing schedule. For the everyday schedule for children 3 and over, there will be one residential parent, usually the one who lives near the child’s school, and one nonresidential parent. The child visits the non-residential parent:

• One evening during the week after school or work to 8:30 pm
• Every other weekend from Friday after school or work to Sunday evening at 6:00 pm or Monday morning when school starts
• If the child has school off on the Friday before the non-residential parent’s weekend, the weekend time starts on Thursday.
• If child has school off on the Monday after the non-residential parent’s weekend, the weekend ends on Monday evening or Tuesday morning when school starts.

Parents will also alternate holidays and share the child’s summer break evenly.