If you and your spouse make the decision to file for a divorce, all sorts of legal matters may arise. For example, once you decide to end your marriage you may have challenges related to children you have, such as custody, visitation and child support. However, divorce can also lead to financial complications in Lee County, and the rest of Florida, especially if you have a high net worth. As a result, it is critical to prepare for the financial impact of divorce, such as understanding how marital property will be split up by the court.
According to the Florida Legislature, there are a wide variety of factors that courts will review when determining how to distribute marital property. For example, courts will take into account the amount of time that a couple was married, different types of contributions made by each party and whether or not a spouse's professional opportunities were interrupted, to name a few. When it comes to the family home, courts will review whether it is in a child's best interests for one party to retain the house. If you and your spouse go through with a divorce, the court will also examine each of your financial situations.
From distributing a 401(k) and real estate to offshore accounts and other assets, you may have many concerns with regard to property division. However, you could be able to avoid a great deal of stress by planning ahead.
This information is not to be taken as legal advice.