Although child custody is often seen as one of the hardest parts of divorce, most Florida divorcees would agree that property division is no cakewalk either. In essence, the things you have and the assets you have worked for are being split up. This can be extreme hard on the pocketbook. With that said, it may come as no surprise that some ex-spouses will try to hide their assets during divorce, especially if it is a high-asset split.
Although it’s likely one of the more tedious parts of divorce, property division is the component of divorce that is strongly tied to how a person is able to progress financially after the divorce. What a person leaves a marriage with will play a key role in their standard of living in the future.
In our last post we discussed a divorce case that is getting a lot of media attention. The founder of an oil company is in the process of divorcing his wife of 25 years. Among other things, on the line is almost $3.5 billion, which is about half of the increase in value of the company’s stock during a five-year period preceding the divorce.
Although any divorce can be difficult when it comes to property division, it can undoubtedly be complicated when one or both of the spouses own a business. That, combined with many years of marriage, can lead to very complex property division issues for Fort Lauderdale residents.
Just about every Florida resident either knows a pet owner or is a pet owner, so it’s no surprise that lawyers often have to deal with pet custody in divorce cases. As one would expect, it can often be quite an emotional task, because in many cases spouses have a strong attachment to a pet, much like they would to a child. In fact, according to a recent survey, about 27 percent of lawyers said they’ve seen an increase in the number of couples who fight over the custody of their pet.
It's not something readers may think about, but it's a reality that an improving economy often leads to a rise in the rate of divorce.
Property division is one of the most complex aspects of divorce for many Florida residents, especially when high assets and real estate are involved. For example, if you intend to keep, sell or leave behind the marital home, you'll want to plan sufficiently to protect your future financial stability. What at first seems like a good deal may turn out to be headache down the road.
Many people getting divorced struggle with the complex and often complicated process of dividing property and assets. While it may seem difficult to negotiate and decide how to divide marital property and assets, it doesn't have to be.