Tampa High Asset Divorce Attorney

Ending a marriage is always difficult. The divorce process has many moving parts and when a case involves dividing substantial assets, it becomes particularly complex. High emotions and the possibility of disputes makes high asset divorce cases even more complicated. Below, our Tampa high asset divorce attorney explains the most challenging aspects of these cases and how you can overcome them.

Complex Asset Valuation

The assets that must be divided in high asset divorce cases are challenging to accurately value. These assets can include professional practices, closely held businesses, stock options, real estate holdings, and other investments. Forensic accountants, expert appraisers, and financial experts are often used to value complex assets.

Property Division

Dividing such a large amount of assets also makes the divorce process more complex. Florida uses an equitable distribution model when dividing assets in divorce, which means marital property is divided fairly, although not necessarily equally. When a couple has a great deal of marital assets, it becomes even more challenging to determine a fair distribution.

Alimony

Alimony is very common in high asset divorces. Also called spousal support, alimony is intended to help a disadvantaged individual support themselves during and after the divorce. It is also meant to allow a spouse to maintain the standard of living they enjoyed while married. The courts take many factors into consideration when determining alimony, including the standard of living established during the marriage, the length of the marriage, the health and age of each party, and the financial needs and abilities of each party.

Tax Implications

Dividing property in high asset divorce cases often has serious tax implications. For example, drawing from certain retirement accounts can incur penalties and tax implications for a person who was awarded the property in divorce. Transferring assets can also have tax implications and it is important that both sides understand what these are.

Prenuptial and Postnuptial Agreements

Prenuptial and postnuptial agreements are becoming more common today, but they are even more common in high asset divorce cases. Prenuptial agreements are drafted prior to a wedding, while postnuptial agreements are drafted during the marriage. Both can significantly impact how property is divided in a high asset divorce case. The courts will scrutinize these documents before dividing property to ensure that they are fair, valid, and that both parties entered into the contract voluntarily.

Confidentiality

When a divorce case goes to court, anything said becomes a matter of public record. For people going through a high asset divorce, this can be problematic as sensitive information could be released. There are ways to get a confidential divorce in a high asset case, such as requesting that court records are sealed or going through mediation or collaborative law.

Our High Asset Divorce Attorney in Tampa Can Help with Your Case

At Florida Law Advisers, P.A., our Tampa high asset divorce attorney has the necessary experience to advise on your case to help you obtain the full settlement you deserve. Call us today at 1 (800) 990-7763 or fill out our online form to schedule a consultation and to get more information.