Dividing Challenging Assets During Divorce
The property division process isn’t always as simple as deciding on the value of a divorcing couple’s assets and making a fair split. Instead, divorcing parties should expect some of their assets to have declined or increased in value during the course of their marriage. In other cases, obtaining a proper valuation of an asset may prove more difficult than expected, while in others, two parties may disagree on whether the property is actually a marital asset. Ultimately, each class of asset requires a specific approach during the property division process, so if you are considering divorce and own any of the following assets, you may need the help of an experienced Fort Lauderdale property division lawyer who can advise you.
There are a number of different kinds of assets that could prove problematic for divorcing couples. Stock options, for example, are often difficult to divide, as options granted as an incentive to join a company before a marriage may need to be divided differently than retention options, which are typically granted in lieu of a cash bonus. If stock options are a part of your marital estate and you have questions about the value or divisibility of those assets, please call our office today.
Businesses can be a valuable asset, but usually only when they are in the right hands. Unfortunately, deciding whose hands are “the right hands” in divorce can be difficult, especially when it comes to family owned businesses. While it typically makes more sense for a spouse with the most involvement in a company to retain ownership, this isn’t always the case, especially when both spouses want to retain control over how the business is run. In these situations, divorcing parties will undoubtedly benefit from the assistance of an experienced attorney who can help them negotiate a property division agreement, or litigate a party’s case in court.
For couples who have an interest in real estate ownership beyond the family home, liquidation and division of the proceeds may not be the best strategy, as both parties may want to retain those properties for investment purposes. There are a number of possible arrangements that couples can use in valuing and dividing these types of assets, most of which will depend on the use of the property in question.
Art and Collectibles
While some assets, such as stock options, may not have a lot of personal significance for a couple, property like artwork collections often do. This can make dividing up those assets upon divorce especially difficult, even if both parties are able to come to an agreement on a collection’s value, which in and of itself tends to be a complicated process. For this reason, couples with valuable art collections are generally encouraged to come up with an out of court arrangement on who will retain which pieces, as a court will usually be primarily guided by the value of the assets, as well as their purchase date. Leaving the division process up to a judge in this way could result in neither party ending up with the result that they wanted.
A Dedicated Florida Property Division Lawyer
To learn more about the complexities of dividing specific assets during divorce, please call experienced Florida property division lawyer Sandra Bonfiglio, P.A. at 954-945-7591 today.