high asset divorce

Property Division Considerations – The Basics

Florida is not a community property state. As a result, all property acquired during a marriage is *usually*divided equally. However, there are circumstances under which the courts are permitted to deviate from that general rule.

If a couple can come to an agreement (with or without negotiating assistance from their attorneys) on property division matters, the court will generally sign off on that mutually agreed upon arrangement, unless it seems to have been executed under duress, is grossly unfair to one of the parties, etc. However, if the parties cannot agree on the terms of their property division arrangement (with or without the assistance of attorneys), the court will be called upon to settle any unresolved disputes.

Before you commit to a property division approach, you’ll want to evaluate whether it’s likely that this process will remain amicable or not. You’ll also want to create a comprehensive list of your personal property, real property, financial assets, and intangible assets (electronic accounts, intellectual property, etc.) and think long and hard about which assets you’ll demand, which you’ll fight for, and which you’ll let go if push comes to shove. As you make this assessment, keep in mind that the overall value of “your half” of the marital property should be roughly equal to the value of your spouse’s half.

Property Division Assistance Is Available

Whether you have a solid idea of how you want to divide your property and assets during the divorce process or you remain unsure of what kind of approach will work best for your unique circumstances, it’s a good idea to schedule a consultation with the experienced Tampa, Florida divorce law firm – The McKinney Law Group – today. Unless you’ve only been married for a year or two and have very little shared property and no minor children, the property division process tends to be deceptively complex. On television and in the movies, this process is generally portrayed as a couple dividing up their electronics and deciding who gets to keep custody of their pets. In reality, dividing a shared household, combined financial assets, digital accounts, and other joint property is almost always more difficult than it looks.

Working with our legal team will allow you to clarify your property division priorities and to begin crafting a plan of action. Whether your property division process is likely to be amicable or contentious, we’ll provide you with our honest assessment of your options at every step along the way so that you can make an informed decision about when to “dig your heels in,” when to compromise, and when to let go. We take great pride in helping individuals navigate the property division process as successfully as is possible and we’ll be honored to assist you during this challenging time. Please connect with our Tampa, Florida divorce law firm today; we look forward to speaking with you.

If you and your spouse are thinking about ending your marriage, it’s important to consult with an experienced Tampa, Florida divorce law firm about preparing for the property division process, even if you’re unsure of when you’ll be divorcing. The property division process is almost always more complex than it seems at first glance. As a result, it’s important to have an idea of how you want to approach your property division goals and priorities. Consult with a divorce lawyer Tampa, FL residents trust.

If you have questions about a prenup agreement or a postnup agreement or require legal assistance in other areas of Family Law you may always contact Damien McKinney of The McKinney Law Group to discuss your case further. He can be reached by phone at 813-428-3400 or by e-mail at [email protected].

We now offer virtual prenuptial agreements. Contact us to inquire further about our virtual prenup option.