Wallace Law Firm

Free No Obligation Consultations

Local 941-621-2996

Toll Free 800-753-6252

Menu

dedicated to counseling clients with professionalism and experience

Practice Areas

Punta Gorda Family Law Blog

Baby boomer divorces are increasing at an alarming rate

On behalf of Dennis R. Wallace of Wallace Law Firm on Friday, November 15, 2019.

If you were born between 1946 and 1964, then you can consider yourself a baby boomer. The peers of your age group, as well as those born earlier in time, are part of a developing trend regarding divorce. Current data shows that, in the past 20 or so years, the divorce rate among baby boomers, and spouses who are older than 55 as well, has more than doubled. This is an interesting fact, especially considering that the overall rate of divorce across the country has been on a steady decline.

If you're currently considering filing for divorce, you might be able to relate to other spouses who have chosen a similar path later in life. There are numerous issues that appear to be common among individuals who are age 55 and older, issues that often lead to marital break-ups. Going separate ways after 20, 30 or even more years together can be a legally complex process, which is why it's important to build a strong support network from the start.

Making smart choices during the property division process

On behalf of Dennis R. Wallace of Wallace Law Firm posted in property division on Tuesday, November 5, 2019.

The choices made during divorce will have widespread implications for a person. No matter how many assets are at stake or how long a Florida couple has been married, making good decisions during the property division process is crucial. This is not always easy, which is why a person will find it beneficial to think about the future when weighing his or her options or thinking about the terms of an agreement.

One of the most important steps for any person facing the possibility of a divorce is to protect personal interests first. This may mean changing passwords, taking financial inventory of accounts and assets, and moving forward with other preventative steps. It may also be prudent to change passwords, PIN numbers and carefully document anything that seems off, especially if one spouse may be trying to hide assets.

Protecting investments during the property division process

On behalf of Dennis R. Wallace of Wallace Law Firm posted in property division on Monday, October 28, 2019.

Divorce will certainly bring financial changes and adjustments to both parties. It requires both spouses to get used to new circumstances, make changes to lifestyle expectations and adjust to different future prospects. One primary concern for many in Florida as they approach the property division process is how to manage and protect their finances during this time. 

One concern a person may have when facing a divorce is how he or she could protect investments. There are certain steps that can be useful to help a person remain in control of these accounts and protect long-term financial well-being. One important step is to update the designated beneficiaries on the account by removing a former spouse. It may also be necessary to gain access to certain investments or to find out how much of an account could be subject to division.

Property division and its impact on future finances

On behalf of Dennis R. Wallace of Wallace Law Firm posted in property division on Monday, October 21, 2019.

The choices made during divorce will impact a person for years to come. For Florida couples, it may be better to set aside the temporary emotions that come up during this process in order to focus on securing terms that allow for a strong financial future. Property division can have a significant impact on retirement, but there are ways a person can rethink his or her long-term plans in a way that allows for full enjoyment of the golden years.

The choices made during divorce matter. One important step is to be sure that a person gets a Qualified Domestic Relations Order (QDRO), which is necessary for the division and proper distribution of certain types of retirement assets. First, however, a Florida spouse will want to take careful inventory of all assets, accounts and investments that are marital property. This is a practical way to ensure that he or she does not leave money on the table. 

When is co-parenting the right child custody choice?

On behalf of Dennis R. Wallace of Wallace Law Firm posted in child custody on Wednesday, October 16, 2019.

Children can suffer significant emotional harm when their parents make the choice to go through a divorce. Florida parents understand how important it is to make choices that allow for their kids' long-term success, which may influence the choices they make for child custody. In some cases, families find that co-parenting is a good way to provide their kids with stability and security.

Co-parenting has many benefits as it allows for kids to maintain a strong relationship with both parents. However, this is not always easy for the parents. It requires that both of them remain in communication and commit to preserving the needs of the kids above all else. Some families find that working in conjunction with a psychologist or family therapist can also be useful.

Fair property division and its impact on retirement security

On behalf of Dennis R. Wallace of Wallace Law Firm posted in property division on Monday, October 7, 2019.

Divorce changes many things about a person's life, including his or her financial stability. The impact of a property division order can be felt for years to come, which is why it is important for a person nearing retirement to seek terms that are fair and reasonable. Divorce near the time of retirement is costly, and a reader will want to look for ways that he or she can secure a strong future.

Gray divorce is a divorce involving two parties who are over the age of 50. When a couple gets divorced at this age, it is likely they have decades of retirement savings together or they have a previous marriage or two already behind them. This can make things remarkably complicated, which is why a Florida resident will want to be very careful to honestly assess his or her expenses. This will allow a person to know how to live within his or her means and adjust for potential financial changes that could be coming.

Planning for the future with a strong prenuptial agreement

On behalf of Dennis R. Wallace of Wallace Law Firm posted in prenuptial agreements on Tuesday, October 1, 2019.

When planning to marry, it can be difficult to think about the future past the wedding day and the honeymoon. While engagement is an exciting time, it is beneficial for a Florida couple to look at their future and start planning now for possible contingencies. One way to do this is to draft a strong and thoughtful prenuptial agreement. 

Couples are often reluctant to draft these types of agreements out of the assumption that they don't need one or wouldn't benefit from this type of protection. Other times, a couple may hesitate to do this because it's uncomfortable and unromantic to think about the possibility that the marriage may end before even making it down the aisle. In reality, there are plenty of practical benefits to this step for couples of all income levels.

What happens if one spouse wants a divorce and the other doesn't?

On behalf of Dennis R. Wallace of Wallace Law Firm posted in family law on Tuesday, September 24, 2019.

Making the choice to end a marriage is not easy. The lead up to this decision probably involved months of discussion, thinking and even sharp disagreements between the parties. Despite all of this, it is possible that one spouse will be ready to move forward with a divorce before the other one is. This may lead to the question, is it possible to stop this process in Florida once one spouse has initiated it?

In short, it is not really possible to stop a divorce if your spouse is intent on getting one. While there are certain things that the other party can do that will slow the process, it is rarely productive. Instead, a person will find it more beneficial to explore ways he or she can protect his or her interests during divorce and secure terms that allow for a strong and stable future. 

How to defend against lies and false accusations in a divorce

On behalf of Dennis R. Wallace of Wallace Law Firm on Saturday, September 21, 2019.

Even for the most amicable of couples, divorce does not come easy. From parenting time to property division, the situation may become rather complicated and challenging. Much is at stake when a marriage ends.

This fact may drive some spouses to lie to get custody of the children, acquire more assets or seek revenge on the person for leaving. Lies and accusations can cause real damage not only to the divorce case, but also in other areas of your life. How can you protect yourself in such a situation?