Going through a divorce is a difficult, chaotic, and sometimes painful process. All you have to do is ask anyone who has been through one, and they’ll tell you just how tumultuous it can be. While it’s true that no couple ever embarks on the journey of marriage expecting things it to fall apart in the future, the reality is that, for many couples, it just doesn’t work out and they realize they would be better off alone.
Of all the points that can bring contention into the divorce process, the division of assets and property is usually the biggest one.
When couples get married, and as they grow through life together, they acquire assets. The longer a couple has been together, the more complicated the division of assets can be. These can be physical items, such as property, stocks, bank accounts, 401ks, etc. In high asset divorces, especially in Florida, dividing these assets can be very difficult.
Florida law dictates that assets are to be divided using “equitable distribution,” meaning that assets are not split straight down the middle, but rather are divided proportionately to each person.
This means that the division of assets is a more involved process, and can take a lot longer. However, it also gives couples the ability to be flexible and work out deals that are more beneficial to both parties. For example, some couples will want to simply split the assets as close to 50/50 as possible, some couples will work out deals where one individual will receive most of the assets if they agree to monthly spousal support payments.
Depending on your personal needs and your situation, it should be possible to work out a deal that will benefit you as much as possible. Make sure that you discuss all of your needs and all of your finances and assets with your family law attorney, as they will need to have all the information if they are to help you properly divide assets.
Scott P. Davis, Family Law Attorney