Posts tagged "assets"

Understanding Florida marital property law

Many Florida residents who have never experienced divorce know very little about the state's marital property laws. In an imminent divorce situation, this lack of knowledge can be a detriment, meaning those who have made the decision to split will want to learn about marital property division early on. A saving grace in many cases is that a divorce attorney can fill in any missing blanks to enhance a divorcing couple's growing knowledge about marital property law.

Dividing art assets when artists divorce

When undergoing a divorce, spouses often face a long and difficult process of dividing property. In states that have equitable distribution, like Florida, calculating the worth and appropriate division of assets can be a complex process, since distribution may be unequal depending on each spouse's financial circumstances, the needs of children, and the length of the marriage. When artists divorce, property division can be especially challenging due to the complex nature of art assets.

How is property divided in a divorce?

Many couples that divorce in Florida are unable to reach an agreement about property division outside of court. If a judge must determine how to divide marital assets between two spouses, the judge does so according to the principle of equitable distribution that is followed in Florida and in the majority of other states. Equitable distribution means that marital property is divided fairly, but not necessarily equally.

Who gets the house in a divorce?

Determining who gets the marital home is often one of the most contentious issues in a Florida divorce. If there are children involved, a court will normally allow the spouse who has physical custody of the children to keep the home. When a couple with no minor children divorces, a judge's decision about who gets the house might be more difficult.

How is property distributed in a divorce in Florida?

In a Florida divorce, judges follow the principles of equitable distribution in dividing the marital assets and debts between the spouses. Each person keeps all non-marital assets, including property he or she owned prior to the marriage, any inheritance left to him or her, personal injury lawsuit proceeds, gifts made to one spouse by a third party and any property that has been deemed non-marital through a written or prenuptial agreement.

Forensic accountants are important experts in divorce proceedings

For couples seeking a divorce in Florida, where state laws make it easy to set up and run a small business, divorces involving a couple's business can be very complex. Businesses are required by law to maintain certain categories of records, and any well-run business needs a certain minimum level of accounting. Unfortunately, when an equitable asset split is involved, businesses can be points of contention in divorce court. When a business apportionment is part of a divorce settlement, the business owner may try stalling tactics, like delivering all financial documents at the last possible minute to run up their spouses legal bills. They may try presenting documents that have been deliberately jumbled and misfiled to conceal missing information.

International marriages and divorce in the United States

With cultural diversity becoming more common in the U.S., divorce may require an international approach. Florida residents may have questions about how divorce in this country affects their marital status in their native country. Property division in the divorce settlement may involve assets they own as a couple in another country. Whether those assets are able to be divided in Florida and be subject to division elsewhere may be complicated.

Assemble financial documents before proceeding with divorce

Individuals in Florida who are thinking about divorce may wish to start by organizing financial paperwork. Having a complete picture of debts and assets is an important first step in understanding how those assets will need to be divided. Furthermore, an individual who is able to gather as much financial information as possible at the outset will be better equipped to determine whether a spouse may be trying to conceal assets during a divorce.

Pet issues during the divorce process

A beloved pet can bring many years of joy to a Florida household, and months of disputes if the owners divorce. For one well-known Hollywood couple going through a breakup, issues related to their three dogs became more contentious than the division of property or the custody of their daughter. Many attorneys are seeing pet custody as a new wrinkle in the often-messy legal tangles of divorce and marital settlements.

  • The Law Office of Daniel E. Forrest represents individuals in Fort Lauderdale in high-asset divorce matters. Daniel Forrest is board-certified family lawyer and mediator serving the South Florida area.
  • The Florida Bar - Board Certified | Marital & Family Law
  • AV(R) Preeminent Martindale-Hubbell(R) Lawyer Ratings
  • Rated By Super Lawyers | Rising Stars Daniel Forrest | SuperLawyers.com
  • Avvo Rating 10.0 Superb | Top Attorney Family
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