Not every couple getting divorced feels burdened by complex property division. However, many couples do have to address these issues. Outside of matters involving children, high-asset property division is one of the most combative areas of divorce. We have seen even the most amicable divorce devolve into an all-out war, simply because the couple could not agree on how to divide the marital property.
As you may know, Florida is an equitable distribution state, which means that a court ultimately decides what is fair. It might mean that one spouse gets a higher share of the property than the other spouse does, or it might mean a 50/50 split. Still, couples can have a say in dividing assets if they can reach an equitable agreement.
We know how difficult this can be. Neither spouse wants to feel slighted in the final agreement. To help our neighbors here in Kissimmee survive a high-asset divorce, we caution you to avoid the following mistakes.
- Not having your assets valuated by a professional
- Rushing through property division because you just want it to end
- Forgetting about valuable assets like life insurance policies
- Not paying careful attention to the division of business assets
- Overlooking possible tax-related consequences
- Not acquiring legal representation to protect your interests
- Letting your emotions overrule your thinking
In the end, preparing yourself as thoroughly as possible for the property division stage of your divorce can eliminate many of the conflicts couples often experience. This means a faster divorce and a faster road to starting fresh. Learn more about dividing property in Florida by exploring our website.