Matthew Lane & Associates, P.A.
PALM BEACH GARDENS, WEST PALM BEACH, WELLINGTON, BOCA RATON561-328-1111

April 2018 Archives

Division of Property and Assets in a Boca Raton, Florida

The division of property and assets in a divorce proceeding cannot include property that was previously conveyed to the parties' children. In a recently decided case captioned Perez v. Perez, the parties were married for twenty-three years. The husband and wife owned several pieces of real estate. During the course of the marriage, they conveyed four pieces of real estate to their sons. As part of the final judgment in the divorce proceeding, the trial court awarded some of the real estate that was conveyed to the children to the husband and some of this real estate to the wife.

Division of Property and Assets Involving Companies in Florida

A division of property and assets case involving the valuation of a start-up company was recently decided by the Florida Court of Appeal. In a case captioned Soria v. Soria, the husband and wife were married in 1988. The parties were married in April 1988. The husband was the founder of a start-up limited liability company. At the time of trial, the company was carrying approximately $400,000 of debt. The company's liabilities varied from $9000 to $76,000 and the company's assets varied from $147,000 to $190,000. The husband testified that he was essential to the operation of the business and that the business could not operate without him. The husband owned approximately 64% of the business and investors owned the remaining 36% of the business. After the divorce was filed, the husband transferred 30,000 of his shares in the company to his girlfriend in order to compensate her for her work for the company.

Reduction of Alimony by Live-In Relationships in Florida

In alimony cases, living with someone may reduce or eliminate the need for alimony when the live-in relationship is found to be substantially equivalent to a remarriage. In a recently decided case captioned Bruce v. Bruce, the wife appealed the trial court's refusal to award her alimony. The parties were married for twenty years. They had three children. The wife worked part time and took care of the children during the day. The wife had serious medical issues, including being hearing impaired and having permanent arthritis, and was a cancer survivor. The wife moved out of the marital home and into an apartment with her boyfriend. The wife denied that she was in a supportive relationship with her boyfriend. The wife contended that she owes her boyfriend back rent, which she intends to repay in the future. The wife contended that she pays for her own phone, electric and water bills and pays for her own groceries. The wife and her boyfriend have no joint financial accounts, they have no joint investments and they do not jointly own personal or real property.

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