When a Florida couple files for divorce, the end of their marriage results in the need to divide their marital assets in an equitable fashion as allowed under the law. In some marriages, property division is fairly straightforward and simple, such as if only a home is owned by the couple. However, the division of assets becomes more complicated when the couple owns stocks.
There are different types of stock assets that a couple may own. For example, the couple may have stocks, stock options and restricted stocks. These assets can be challenging to divide because their value may be difficult to pinpoint. In addition, some of these assets may be hidden by one spouse, or they may not be transferrable or divided. For example, if an individual obtains preferred or restricted stocks through their employer, the spouse of the employee may not be aware of the assets.
There are several steps that individuals may take to divide assets in an equitable fashion when filing for divorce. Identifying the assets is important, and it may be necessary to subpoena the human resources department of a spouse's workplace in order to identify all assets. In addition, a financial expert may be contacted for assistance with the valuation of stock assets so that they can be divided in a fair and equitable fashion.
Property division is an important aspect of a Florida divorce case. The division of assets for real estate, stocks and other assets is important, but it can be challenging to divide some assets during a divorce. When an individual is going through a divorce, a divorce attorney may be contacted for assistance with property and asset division. The attorney may assist with identifying assets and other aspects of the divorce case.
Source: Forbes, "Dividing Stock Options And Restricted Stock In Divorce", Jeff Landers, March 19, 2014