In Florida, property is distributed in an equitable manner between high asset couples who divorce. In Lee County, and across the state, it is essential for those with a high net worth to realize the possible financial impact of separating from their spouse and thoroughly assess their circumstances. According to the Centers for Disease Control and Prevention, the 2014 divorce rate in Florida was 4.0 per 1,000 of the population, which reveals the prevalence of separation throughout the state.
Although divorce can present challenges for any couple, it is often especially complicated for those with a high net worth. By closely reviewing the details pertaining to their case and understanding divorce laws, such as which factors courts consider when distributing marital property, some people in this position can prevent stressful issues throughout their divorce. According to the Florida Legislature, there are many factors that courts look into when deciding how to divide marital property. For example, courts will look at the duration of a couple’s marriage, the financial condition of each party and each spouse’s individual contributions.
The court will identify assets and individually evaluate all assets that are significant. Courts will also analyze any liabilities that a couple has and decide which party to assign responsibility to. When it comes to a high asset divorce, there is more at stake and financial matters surrounding separation are often particularly complex. By carefully preparing for separation and examining all of the relevant issues regarding high asset divorce, individuals with a high net worth can secure an outcome that is more favorable.
