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Tips for high asset property division in Florida

| May 8, 2020 | High Asset Divorce |

High asset divorces are often a challenge for the parties involved because they have to think about several factors before they come up with a split. While there are some aspects of the process that won’t be able to be simplified, there are several things you can do to help make things easier.

One of the most important things to do is to ensure that you have an accurate accounting of the assets that must be divided. Using this as a checklist can help you be sure that you’re not missing anything when you’re splitting things up.

As you go through the assets, make sure that you’re looking at the value of each item. This is typically a better option than looking at the current worth. The value will usually take the future of the asset into account.

You also need to think about the cost of keeping the asset. Some items will come with a higher cost to maintain. You must ensure that your single person budget can accommodate that cost if you’re considering trying to hang on to something.

In Florida, property division is based on what’s equitable. This doesn’t mean that you’re going to have an even split. This gives you some leeway to consider the possibilities of various splits. As you’re thinking about what might work, be sure to remember that the debts of the marriage also have to be split.

You have to work to protect your interests during the property division split. Working closely with an attorney who knows your goals and understands the state’s laws is beneficial.