How To Protect Your Assets In A Fort Lauderdale Divorce
Filing a divorce petition in Broward County courts is a life-altering experience that can have a significant impact on your financial future. Following the rules of equitable distribution, marital property in Fort Lauderdale divorce proceedings is divided fairly between the spouses, though not necessarily equally. Our Fort Lauderdale divorce attorney explains how to safeguard your assets, which can help avoid unnecessary financial hardship in the future.
Equitable Division Of Marital Assets In A Fort Lauderdale Divorce
Dividing marital assets is one of the most important yet frequently disputed issues between couples who are getting a divorce in Fort Lauderdale. Under the Florida Statutes, family courts must follow the rule of equitable division. This means all marital property and assets get divided between the couple based on what is fair in light of the circumstances, rather than a 50/50 split.
Marital property under Florida law includes anything that was acquired during the marriage, such as homes, cars, vacation properties, household furnishings, money in bank accounts, investments, and businesses. Property acquired by gift or inheritance or prior to your marriage is separate property and will not be divided during the divorce, but there are situations in which premarital assets may be mixed.
Whether negotiating a settlement or arguing your case in court, it is important to be aware of factors that could influence your rights to marital assets in equitable division. These include:
- The length of time you were married;
- Each spouse’s earnings and income potential;
- Their contributions to the marriage;
- Whether one spouse sacrificed their own career to support their partner;
- Potential tax ramifications;
- Marital misconduct and squandering assets, such as on affairs or addictions.
Strategies for Protecting Your Assets When Getting Divorced In Broward County
The prospect of filing for a divorce through the Broward County Family Court can be physically and emotionally draining. However, when it comes to property division, you need to be proactive. Our experienced Fort Lauderdale divorce attorney recommends the following strategies to help protect your rights and financial interests prior to filing and throughout divorce proceedings:
- If you’re experiencing trouble in your marriage but have not yet filed a divorce petition, consider using a postnuptial agreement to protect your rights.
- If you are considering a divorce, make a full list of all marital property, assets, and liabilities.
- Look for hidden assets, such as checking income on tax returns and doing business or property title searches
- Document any marital misconduct and other ways in which your spouse may have depleted assets.
- Document your contributions to the marriage and in maintaining or increasing the value of marital property.
Schedule A Consultation Today With Our Experienced Fort Lauderdale Divorce Attorney
Facing the prospect of a divorce in Fort Lauderdale and have concerns about your rights regarding marital property and assets? Get professional legal help right away. The Law Office of Sandra Bonfiglio protects your financial interests and helps ensure that your assets are divided fairly. Call or contact our office online today and schedule a consultation with our Fort Lauderdale divorce attorney.
Sources:
leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0000-0099/0061/Sections/0061.075.html
browardclerk.org/Divisions/Family\
