Annulments vs. Divorce
January 18, 2019Annulment vs. Divorce: The Financial Differences
You found that one special person who you wished to devote the remainder of your life to and so you walked down the aisle, simply to discover that the union was not really what you predicted. Today you can not wait to divorce.
Do you want an annulment, or do you want a divorce? Based on what you select, you might wind up in very different financial conditions.
Having an annulment, is like the marriage never existed. An annulment states a claim that the marriage you entered into was a fraud, or fraudulent in a way, as a result of some circumstance, the union was never valid.
In regards to money, the difference is with marital property which is generally divided equitably based on a judge’s conclusion in a divorce (unless there’s a legitimate prenuptial agreement). Whatever debts or assets are obtained during a marriage is deemed marital, but legislation regarding the way the house is split vary depending on circumstances.
After a marriage is annulled, the judges typically attempts to keep both parties in the financial condition that they were in prior to the marriage. This usually means that everything you brought to this union you will often take from the marriage. When a couple has gathered any shared assets before an annulment, it could turn a bit more complex. The division of those assets are generally managed as though two strangers purchased land together. When kids are concerned, child custody and support arrangements are treated exactly as a divorce.
Most unions are not eligible for an annulment. Every state has its own laws for lawful annulment, however there are a few common precedents. Bigamy, forced marriage, fraud or misrepresentation, psychological incapacity or sickness, homosexual union and incest are commonly accepted grounds for an annulment. When looking to get an annulment, nonetheless, these motives have to be shown, and the other party has the right to protest.
If you’re the financially poorer spouse, it could possibly be in your best interest to look for a good divorce lawyer. If, on the flip side, you have considerable resources and can demonstrate that your union should not have happened, submitting for an annulment can help save a great deal of money (especially in spousal support). An annulment may also help 1 spouse avoid liability for the other spouse’s debt. Speak to a divorce lawyer about the particular conditions of your union to learn which of those alternatives will work well for you.
Annulments in Florida, and in any state is a very difficult option if you would like to end a marriage. People have their own reasons why they need to get an annulment, and everyone has a right to explore whether annulling their marriage is possible for them under Florida law. There is a large misconception that price and complexities are lower than that of just filing for divorce. However, that is not true, and if it works for your situation, an experienced attorney can assist you in furthering your odds for success.
