For many years, people of a high net worth have held back from moving into the divorce process because they were concerned about the costs involved.  Specifically, the most concerning costs for many concerned the issue of spousal support, which could potentially continue on for many years and result in enormous payment requirements for the former spouse who was ordered to provide this support.  However, Florida is the latest state to begin the process of considering a law that would reform and limit the spousal support payments that would be made.

Specifically, two bills have been introduced in each house of the Florida legislature that would place caps on the amount that could be ordered to be paid as well as limit the duration of these payments.  Both laws contain provisions that would limit the amount of payable spousal support to 20 percent of the income of the spouse paying the support.  These payments would also limit the duration of these payments to the retirement age in the state, which is currently 66 years old.

Perhaps the most controversial element of each bill is that if either becomes law, these caps would be retroactive in that spouses currently paying support could go back to court and obtain adjustments dating back to the date that their support payments began.  Massachusetts and New Jersey are two other jurisdictions that have already made changes to their spousal support laws and norms.

San Diego High Asset Divorce Lawyers

People who are of a high net worth in any jurisdiction have much to consider when it comes time to begin the divorce process, as there are many assets at stake that could become part of the dissolution process of the marital estate.  Those who are in this position need to obtain the help of experienced professionals to make sure that their legal rights and interests are protected.