Why You Need Legal Help When Navigating A High-Asset Divorce In Broward County

Filing for a divorce through the Broward County Family Court is never easy, but high-asset divorce cases can present unique challenges. If you find yourself in this situation, it’s essential to be informed and prepared.

Understanding the common issues that arise helps in navigating the process more smoothly, ensuring that your rights and interests are protected. Our Fort Lauderdale divorce attorney explains what you need to know.

Common Issues In Fort Lauderdale High-Asset Divorces

The U.S. Census Bureau reports the average household income in Broward County is close to $90,000. While many people make less than this figure, even with both spouses working, others make significantly more. When a couple ends a marriage after accumulating significant amounts of income, property, and other assets together, it makes getting a divorce in Fort Lauderdale even more difficult.

Under the Florida Statutes, the court follows the rule of equitable division. This means that all property and assets earned, purchased, or otherwise accumulated during the marriage must be divided between the parties fairly, though not necessarily evenly. In high-asset divorce cases in Broward County, common issues that often surface include:

• Valuation of Assets: Not getting an accurate valuation of assets, particularly real estate, investments, and business interests, can jeopardize your rights in any settlement.
• Hidden Assets: In high-asset divorce cases, there is always the potential for one spouse to conceal assets to avoid equitable distribution.
• Spousal Support: If one spouse made significantly less than the other, they may be entitled to spousal support.
• Tax Implications: If not done properly, asset division can result in significant tax liability.
• Child Custody and Support: More complex financial discussions can arise when children are involved, affecting custody decisions and support arrangements.

Tips to Protect Yourself During a High-Asset Divorce in Fort Lauderdale

Getting professional legal representation is vitally important in Fort Lauderdale high-asset divorce cases. The following are additional strategies that can help in protecting your rights and getting what you are entitled to in a final divorce order:

• Gather Relevant Financial Documents: Collect copies of all bank statements, tax returns, investment portfolios, and other documents.
• Do a Written Inventory: Document all assets and liabilities, which will help clarify property division negotiations.
• Avoid Emotional Decisions: Take your time making decisions, especially regarding asset division, to avoid costly errors.
• Consult Experts: Engage financial advisors or appraisers to value your assets accurately and provide informed insights.
• Focus on Your Goals: Clearly define what you want to achieve in the divorce, which will help guide negotiations and maintain your priorities.

To Schedule A Consultation, Contact Our Experienced Fort Lauderdale Divorce Attorney Today

Navigating a high-asset divorce in Fort Lauderdale can be complex, but you don’t have to do it alone. The Law Office of Sandra Bonfiglio has extensive experience handling these cases and a proven record of success among clients. We take the legal actions needed in high-asset divorce cases to ensure you get the total amount you are entitled to. Contact our office today to schedule a consultation with our Fort Lauderdale divorce attorney.

Sources:

census.gov/quickfacts/fact/table/fortlauderdalecityflorida/PST045223

leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0000-0099/0061/Sections/0061.075.html