The new alimony laws in Florida have caused a lot of chatter. The focus is on the fact that with these new laws, you may find yourself handed an increased financial obligation to meet. Running a business and handling relationships is a delicate balance, but when you’re suddenly thrust into this situation, the debt can be even harsher. GoKapital Loans has financially helped entrepreneurs through many situations. GoKapital Loans understands some of the problems that you could have through these changes, and wants to help you find business financing so that you can make it through this transition, for whatever outcome you’re endured.
The new alimony laws in Florida detail the fields of cohabitation, modifications and durational alimony. Cohabitation laws involve situations where one party is allegedly trying to support themself in a new relationship, which the court has to make a ruling on based on clear and convincing evidence that the receiving party is in a supportive relationship.
The modifications laws are about how the alimony amount can be modified if there is a same sex marriage law passed, or if the payor has a disability.
The durational alimony laws detail the time limits placed on those due to pay durational alimony.
These laws state that permanent alimony is eliminated, and may only be used in rare instances, such as where there is a disability. The judges have been encouraged to consider whether a marriage of less than 2 awards bridge-the-gap, rehabilitative or durational alimony, and then to consider permanent alimony only if other options are clearly infeasible.
One of the things that many people are immediately concerned about with the new alimony laws in Florida is how their business will be impacted. You have worked hard to get to where you are, so it is important that you understand how these laws will impact your family. You need to ensure that you and your spouse get the proper legal counsel, and you want to understand what the laws will mean for you.
You will likely begin to feel financial pressure when it comes to payment. This could either be in the form of you being the recipient of alimony or being the payor. If you are the payor, and the receiving spouse also happens to be the primary caregiver to the children in the marriage, you may find yourself paying a certain amount of alimony each month as well as child support.
You may essentially find that the amount you pay each month could equal around half of your net worth. This leaves you with half.
On the other side, you may have found yourself receiving alimony from the other parent. This money could range from $300 to $1,000 a month or more, depending on your income, the time of your marriage, health issues, and more.
Either way, you may find yourself in a situation wherein you are unable to pay your bills and personal expenses. It isn’t feasible to live off completely-half of what you’re used to, especially when you have to maintain your business at the same time.
This is where financial planning becomes important. This is essentially what can save you financially when you’re facing an alimony case, especially in the early stages when you’re unsure of the financial outcome.
When you have a solid financial plan in place, you can continue to run the company you have and even hire more workers. You are better able to afford your own attorney fees, the fees you’ll have to pay your spouse’s attorney, and even the financial obligations you may need to take on right now.
Business financing can help you out greatly in this type of situation. You can be approved fairly easily, and you will usually get the loan amount you’re seeking based on your business assets. The approval process is typically only a matter of days, and you can even sidestep fees and collateral.
For example, let’s say you can only use a portion of your current savings. You might find yourself running out of funds in no time – it’s just a matter of months in many instances. However, you can quickly get funding to make ends meet. You won’t have to pay application fees, monthly fees, or closing costs as with most loans, plus you’re able to get the money you need to make it through this transition.
In terms of your legal matters, there are several things that you must keep in mind. You need to keep all communication open, and you need to draft a marital agreement if there are still issues to be settled.
You need to determine whether you owe alimony or will be receiving it. If you can see that alimony is soon to be your new reality, it’s time to begin saving. The new alimony laws in Florida do not have any grandfather clauses amongst them, meaning that they can more than likely affect you, no matter how long you’ve been divorced.
It’s crucial that you get legal advice and not rely on your ex-spouse, even if the situation is amicable. Your ex-spouse will likely want you to be as ill informed as possible, so it’s important that you get legal counsel.
With these recent changes, you may find that your alimony payments are different than what they once were. This is why pre-alimony divorce agreements are so important. You have to find a way to have legal insight on your side and determine how these new alimony laws will affect you now and in the future.
When you’re faced with an alimony change, you are experiencing a deep financial readjustment. The timing is crucial, and you don’t have a lot of time to prepare for it because these laws take immediate effect.
It is important to avoid a payment gap, which is why prompt funding is so essential. You do not have a lot of time to work on rectifying the situation on your own. You may even have trouble reaching any liquidity in a timely manner, even if you haven’t realized it yet.
If you find that business financing is your best option, there’s nothing wrong with going this route. The new alimony laws in Florida may pose a financial burden, but you have options for getting through it.