Law Offices of Barry I. Finkel, P.A.
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Protecting retirement accounts in a high asset divorce

High asset divorces are common no matter where you live in Florida. They involve an incredible amount of money, property and collections. Couples headed for divorce can only do so much to protect their individual assets when getting divorced. In fact, if you don't have a prenuptial or postnuptial agreement in place, you will have trouble preventing your assets from being divided.

The good thing here is that Florida is not a community property state. This means that your assets will not be automatically shared with your spouse when getting divorced. The judge will decide how to divide the assets based on equitable distribution. The judge will consider the length of the marriage, age of both spouses, health of both spouses and how well each spouse will be able to make a living after the divorce.

If you came into the marriage with a prenuptial agreement, you likely put a clause in it that protects your retirement accounts should you ever get a divorce. This is a smart move, especially if you entered the marriage with high assets to begin with. You could've also included a clause that protects the accounts even if the assets were not of high value at the time.

You could also protect those assets by entering into a postnuptial agreement as you begin to build your wealth. Either way, it will take an experienced divorce attorney to help you protect your retirement in a high asset divorce. Be prepared to create a new retirement plan just in case.

Are you headed for divorce in Fort Lauderdale? Will your divorce involve a high number or value of assets? If so, visit our site to find out how an experienced divorce attorney can help you protect your retirement.

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