The term Qualified Domestic Relations Order may sound foreign to some people, but divorced couples with retirement accounts may be well aware of its definition and implications. Splitting a retirement account pursuant to divorce can get tricky, and the rules governing this property division can vary from state to state.
Although many states differ in insurance requirements, insurance policies require current, correct information regarding the policy holder and marital status. That includes the insurer being notified of a divorce or legal separation.
Divorce commentators are increasingly pointing to one aspect of marital dissolution in Florida and across the country that is often quite different for separating spouses these days than it was formerly.
Divorce, with attendant issues that can include child custody, child support, property division and other matters, can be problematic even under the most agreeable terms, but life after divorce does not have to be. Setting your intentions early on following a divorce can help you reach goals, stay positive and find happiness.
Hulk Hogan, the famous professional wrestler whose real name is Terry Bollea, lost 70 percent of his liquid assets to his ex-wife, details of his Florida divorce settlement reveal. The confidential settlement agreement surfaced recently because of other disputes between the two.
For Florida couples who plan to get married, a carefully drafted prenuptial agreement can be a valuable way to protect assets in the event of a divorce.
In today's high-tech world, it might be prudent to think of others -- literally, the billions of people you don't even know who constitute an undifferentiated mass on the periphery of your world -- as potential voyeurs who might conceivably gain access to your online photos, comments, downloads and other personal information.
The exceptionally media-friendly Anna Nicole Smith estate-battle saga "is better than a Harlequin romance novel" stated one reporter a few years back. It featured a former Playboy centerfold; a real Texas tycoon so enamored of her that he married her when he was 90 and she was 27; an extravagant outlay of millions of dollars worth of gifts bestowed upon her during their short marriage that ended with the husband's death about a year later; unbounded acrimony between the widow and her former husband's family; rival claims concerning high-asset property division; and estate intrigue that spilled across multiple types and levels of courts.
Our immediately preceding blog post (May 5) discussed the existence of intellectual property rights in certain marriage dissolutions, and the large value that can be attached to intangible property such as trademarks, copyrights and patents when property division is at issue in a divorce.
Most people typically think about the same type of things when it comes to property division in a divorce settlement, namely, the house (or houses for the more well-heeled), vehicles, savings and retirement accounts, a business in some cases, furnishings, jewelry and other tangible items.