Buying a home is a major milestone in many people's lives; one that is both rewarding and stressful. When it comes time to apply for a mortgage, as most of us have to do, surprising things can affect what a person may or may not qualify to receive. One such factor that is often overlooked is how alimony payments can affect a mortgage.
The wealthy hip-hop artist, Flo Rida, said he wasn't the child's father. A DNA test, though, said otherwise. And suddenly he found himself obliged to pay child support.
Child support payments are often a source of contention between parents, but when we think of child support battles, it is usually in the context of parents who are scraping to get by. The other end of the income spectrum is also prone to its share of child support disagreements. While many states have differing statutes when it comes to the precise details of determining child support, the very laws that are intended to create equality among child supporters often place what some feel is an undue burden on the incomes of the wealthy.
The unfortunate reality when it comes to prenuptial agreements is that some couples who would otherwise stand to benefit from executing this legally binding document often opt not to do so owing to certain preconceived notions. Specifically, they view it as being unromantic or unnecessary, or, even more common, something reserved for those with considerable assets.
We spend a large part of our lives finding the perfect house, the right vehicle, and the furniture we want. After years of building a life through hard work it can be scary to think of it all taken away in divorce. Therefore it is helpful to know how state laws impact which spouse gets what. Here is what you need to know about dividing your assets in Florida.