Can I Cash Out My 401(k) Before We Divorce?
This question is similar to the one regarding taking money out of a joint bank account. If you try to cash out your 401(k) prior to or during the divorce, your spouse will still be entitled to half of that money, assuming that your 401(k) was accrued during the marriage.
If you’re considering cashing out your 401(k) before your divorce, I would advise against it. However, if you need to do so in order to live, don’t take more than half of the value. Your spouse is entitled to the other half as a starting point, and people generally don’t accomplish what they intend when they try to assume 100% control over assets. The 401(k) accrued during the marriage is a marital asset and belongs to both parties fifty-fifty, whether you take out all the money or not.
Does Moving Out of Our Home During a Divorce Count As Giving Up My Property?
Moving out during a divorce does not give up any rights to the property. Before moving out, you should consider the long term: will you want to move back in and retain that property? or do you already know that you will be moving on after the divorce to a new property? If you want to maintain that property after the divorce, it might be smarter to try and stay; but again, leaving does not give up any rights that you have to the property.
Can My Spouse Remove My Name from the Deed or Mortgage Without My Consent?
You cannot remove someone’s name from a deed or mortgage in the state of Florida until it is paid off. Even if a deed is only in one spouse’s name, Florida law still considers both parties to have a one-half ownership interest in the marital portion of the real property. Removing a spouse’s name would not change the ownership interest from a divorce perspective.
Is a Working Spouse Required To Pay Attorney’s Fees for the Non-Working Parent in a Divorce in Florida? Does It Matter Who Initiated the Divorce?
First of all, it doesn’t matter who initiates the divorce. Florida is a no-fault state, so being the petitioner versus the respondent gives you no superior rights or powers in terms of the divorce.
As far as paying for attorney’s fees, the court looks at one party’s need and the other party’s ability to pay during the attorney’s fee analysis. It is realistic, therefore, to consider that the higher-earning spouse will probably contribute to the lower-earning spouse’s fees. Nevertheless, keep in mind that the attorney’s fees come out of the marital estate. If you think of the marital estate as your financial pie, that means that your pie will be smaller when you divide it up at the end. In other words, both parties will contribute to the attorney’s fees in one form or another. In my experience, it is rare that one party is ordered to pay all of the attorney’s fees for both spouses.
Is a Stay-at-Home Parent Automatically Favored in Custody Arrangements in a Divorce in Florida? Is the Parent Who Works Outside of the Home at a Disadvantage When It Comes to Custody Matters?
The overriding concern in all time-sharing (custody) arrangements is the child’s best interest. Obviously, a stay-at-home parent is going to be more available to spend time with the child, but that doesn’t mean that the parent who is working can’t also have time with the child. There is no presumption of fifty-fifty time-sharing, though equal time is generally viewed as the starting point. A parent who has not traditionally spent half of the time with the child during the intact marriage is not suddenly going to receive half of the time with the child post-divorce. For example, if one spouse’s job involves a lot of travel and they’re only home a few nights a week during the month, they’re not in a position to have the child 50% of the time.
One of the considerations will always be: “Can the parent be with the child when it is their time to have the child?” I don’t want to say it’s a matter of one parent having an advantage over the other; it’s just a factor in what’s considered to be the child’s best interest, which includes maximizing time spent directly with the parent and avoiding the need to leave the child with babysitters or other caregivers who are not the parent.
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