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A divorce exceeds emotional turmoil, it can also leave lasting effects on your financial state. If you’re in the process of getting divorced, you’ll have to go through the potentially grueling process of  splitting up the assets  you and your soon-to-be former spouse have acquired. Taxes and your monthly budget are the 2 main finances that will be affected by  divorce. Here are a few of the most common items and  how to allocate them between you and your ex : 1. Your Home If you and your spouse don’t have an emotional attachment to your house, then you both can easily agree to sell the property, divide the proceeds, and move on. Unfortunately, in some cases, you might have to sell your home at a loss and determine who will be responsible for paying the remaining mortgage. If you and your spouse wants to keep the house, then whoever wants to keep the house has the option to buy out the other person’s half. 2. Your Car If you and your spouse share a car and own it together, things could become complicated. If neither wants to split with the vehicle, then the best bet is to split the value of the vehicle evenly. Again, there are two ways you and your spouse can go about this: sell the car and divide the proceeds, or have one person keep the car but pay the other spouse’s share. 3. Your furniture and household items When it comes to furniture and household items, this may be tricky to divide between you and your spouse. You’ve built a life together and that means acquiring and buying household items together. The best way to divide these items fairly is to take inventory, determine the value of each item, and divide it evenly so you both take away an equal share. 4. Your artwork and collectibles Artwork and collectibles is another difficult item to split up. There is sentimental value that comes with artwork and collectibles, so if you can’t agree on how to split it fairly then it’s best to sell everything off and split the proceeds. 5. Your 401(k) The best way to correctly portion out a 401(k) is to get a Qualified Domestic Relations Order (QDRO), which is a legal document that outlines the way an employer-sponsored retirement plan will be split. With a QDRO, you can avoid certain taxes and penalties that previously would have stemmed from taking early distributions from your plan. 6. Your IRA Contrary to 401(k)s, IRAs do not require a Qualified Domestic Relations Order to allocate account assets. Funds in an IRA are split according to the current divorce agreement. 7. Your Non Qualified brokerage account Some couples decide to hold a large portion of their investment assets in retirement accounts. However, if you have a traditional brokerage account you’ll need to prepare to split that up as well. We recommend making a list of your individual holdings and seeing how much you paid for it. This is beneficial because if you or your spouse decides to sell a given asset, you’ll need to account for capital gains, which can hurt your proceeds. A divorce is never easy, but being aware of how to split the most important assets can help you and your spouse reach a smoother agreement. Make sure you hire the right attorney and  contact   David Veliz at Veliz Katz Law Firm, so splitting assets is the least of your worries. Read the  full article by Maurie Backman on The Motley Fool.

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When facing a legal issue related to family law, it’s important to understand what to expect before and during the family court process. If your legal issue cannot be settled during negotiation, or collaborative law proceedings, your case will be heard in family court. Family courts strive to find fair solutions that make family units more stable. What types of cases are resolved in Family Court Family court helps resolve all issues that fall under the category of family law. These include cases stemming from the following topics: Divorce settlements Adoption and foster care placement Domestic violence Child support payment Child custody Other marital disputes Reaching an agreement outside of court Legal counsel is not required for negotiation proceedings, although it is strongly advised. During these proceedings, family law attorneys can: Inform clients of their legal rights and options. Help them negotiate and draft agreements. Make sure the agreement is executed and likely to be approved by a family court. Negotiation describes any communication between the two parties that attempts to resolve the dispute before it goes to court. Unlike in a court room setting, this third-party will not make a ruling on the case. Any decision that you reach during negotiation is preferable. In court, a judge may reach a decision that you feel is unfair. If negotiation is successful, an agreement is drafted and sent to the family court. After a hearing, the judge will approve the agreement if it meets the following criteria: It is fair to all parties. Both parties entered it voluntarily. It was made with full financial disclosure from both parties. If the judge is satisfied, the agreement will be approved and made into a court order.If a settlement cannot be reached during negotiation proceedings, the case will go to trial. Receiving a Temporary Order After failed negotiation, a summons and complaint should be filed with the court. In addition, a motion for temporary relief may also be filed. This motion asks the court to make a temporary decision on one issue, before the official court date. Motions for temporary relief may concern the following: Child custody Child support and visitation Payment of marital debt or temporary attorney fees Possession of marital assets. The motion for temporary relief case will be heard at a temporary hearing. At this hearing, the court relies on sworn witness statements rather than live testimony to make its ruling. In addition, each party or their counsel gets time to argue their case. The court then issues a temporary order to be granted until the trial date. Family Court proceedings If a solution cannot be reached outside of court, one party usually files a summons and complaint explaining their requests. This is served to the opposing party to begin litigation proceedings. After an action is filed, the case enters the discovery process. At this time, each party can request information and documentation from the other to prepare their case. These processes are not available for divorce proceedings, which always progress to court. Discovery usually features the following: Disclosure. Parties request items from one another. Interrogatories. Parties send a list of questions to the opposite sides. Admissions of fact. Parties send a list of facts for the opposite sides to admit or deny. Request for production. Parties ask for useful documents such as bank statements. Depositions. Sworn testimony is taken from opposing parties and witness. After discovery, both parties may attempt to find a resolution out of court through negotiation. If an out-of-court settlement is not reached, the family law case will go to trial. Once a family law matter goes to trial, both parties get the chance to plead their case in front of a judge. Each party can call witnesses to testify for them, who are typically cross-examined by the opposing counsel. Admissible documents and records are also submitted to the court as evidence. After hearing both sides, the judge will deliver their verdict. This verdict is legally enforceable, and should be accepted by all parties. Appealing a Court’s decision If one party is not satisfied by the verdict, they can appeal the case and take it to a higher court, where the process begins again. However, appeals are difficult to win, and could end up wasting your time and money. No matter what family law issue you’re facing, an experienced family lawyer in Orlando can help you face the legal process with confidence.

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When we set up a consultation for probate we ask for a death certificate, funeral bill, a will of all assets and debts. We can then advise them and explain  the probate process. We also provide documents that will assist with the probate. Schedule a meeting with Veliz Katz Law to learn more about  filing a probates in Orlando  and the best steps for your unique situation.

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It’s about how the property was titled. On the death of a spouse, most of the time, property will pass to the other spouse. If a spouse passed and the property was held just in their own name, a  probate will be necessary to transfer ownership  to the other spouse. Learn more about the  Orlando probate process  and property transfer by contacting Veliz Katz Law.

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Probate usually takes 4 to 6 months from when you  file the probate case. Creditors have up to three 3 months to file a claim against the case. After that you are able to disperse the property. Learn more about the  filing a probate in Orlando , and how to file properly, by contacting Veliz Katz Law.

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If anything has a named beneficiary, including life insurance, those will pass outside of probate, and don’t have to be probated. Only items that don’t have a beneficiary, and are only in the name of the deceased, require a probate. Contact the  Orlando probate lawyers  at Veliz Katz Law for more information on  probates and beneficiaries.

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The party can hire any attorney in the state of Florida. We’ve handled many probate manners throughout the state of Florida. You simply have to file in the county where the person resided. Contact Veliz Katz Law to learn more  Orlando probate law  and talk about  our experience with the probate process.

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The easiest way is to check with the clerk and county where the person resided, and it’s usually contained within the public records. Schedule a meeting to discuss Orlando probate law with Veliz Katz Law for more information on clerk and county probate records.

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Before your case can be heard in court  mediation  is required. This is an informal process where both parties and their lawyers try to discuss the issues and come to a compromise. We urge our clients to try to reach an agreement because if the case goes to court the judge will have the final say. The  Orlando family law attorneys at Veliz Katz Law can help you through the often complex mediation process. Contact us today for a free consultation.

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Probate cases are usually not complicated and can be fairly routine. If the heirs or beneficiaries are in disagreement the case can get more complicated. In these cases you need a lawyer who understands the process and has experience with probate cases. Contact Orlando probate attorneys of Veliz Katz Law to get the results you need.