Commonly Overlooked Assets In A Fort Lauderdale Divorce

Getting a divorce in Fort Lauderdale is often a difficult and emotionally draining experience. Unfortunately, getting too caught up in the drama surrounding the situation can cause you to overlook important matters that impact your rights.

Equitable division of marital property assets in a Florida divorce protects your future financial security once a final divorce order is in place. To help you get the total amount you are entitled to, our Fort Lauderdale divorce attorney outlines commonly overlooked assets in these proceedings.

Financial Assets That Often Fly Under the Radar In Broward County Divorces

When filing for a divorce in Fort Lauderdale through the Broward County Family Court, make a list of all marital property and assets. This list is then used to complete financial declarations, which the court requires to determine a reasonable settlement.

Marital property is anything earned, acquired, or otherwise accumulated during your marriage. Under the Florida Statutes, these assets are divided between you and your spouse in an equitable manner, meaning that rather than splitting everything 50/50, the judge considers all the factors involved to determine what is fair.

Unfortunately, it is common for certain types of financial assets to fly under the radar. Overlooking any of the following can have major impacts on your divorce settlement and your ability to recover financially from divorce in the years ahead:

• Life insurance policies, in which you may be entitled to a portion of the current cash value;
• Stock options and bonuses, which may not be reported in income disclosures;
• Tax refunds and carryover losses from previous years;
• Outstanding balances in Health Savings Accounts (HSAs);
• Retirement accounts, including pensions, IRAs, and 401(k)s, which your spouse may have steadily accumulated during your marriage.

Other Property And Assets Often Overlooked In Fort Lauderdale Divorce Proceedings

Beyond financial accounts, it is easy to overlook other types of property and assets when going through divorce proceedings in Fort Lauderdale divorce. Items that can be worth significant amounts include:

• Frequent flier miles and rewards points, which may represent thousands of dollars and other benefits;
• Family heirlooms, which may hold both emotional and monetary value;
• Collectibles, such as books, artwork, antiques, and sports memorabilia;
• Timeshares, vacation homes, land or other properties
• Shares in businesses;
• Personal property, such as tools, fine jewelry, or high-end furnishings;
• Digital assets, such as cryptocurrency, domain names, websites, online storefronts, and other businesses.

To Protect Your Financial Future, Contact Our Fort Lauderdale Divorce Attorney Today

Getting a divorce in Fort Lauderdale can be a confusing, complex, and emotional process. With all that is happening, it is easy to overlook certain types of marital property or assets. Unfortunately, doing so jeopardizes your rights in divorce negotiations and could impact your financial recovery long after your divorce order is issued.

Fort Lauderdale divorce attorney Sandra Bonfiglio provides the fierce legal representation you need to uncover all assets and get the total amount you are owed. To protect your rights and your financial future, contact our office to schedule a consultation today.

Sources:

browardclerk.org/Divisions/Family

leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0000-0099/0061/0061.html