Divorce’s financial toll is as great as its emotional toll. For you, it could be greater, especially if you’re facing the prospect of parting with significant assets. Your spouse might try claiming more than their fair share, and their actions may make you worry about what defenses you have. By enlisting the help of a family law attorney, you can work to protect both yourself and your property.
An attorney can help you preserve your assets
You and your spouse may own a variety of assets, ranging from art to real estate, from retirement accounts to investment portfolios. Gathering and valuing this property is not easy. Dividing it equitably is even more difficult. Since most assets qualify as marital property in Florida, your attorney will help you argue for your right to your fair share. They will also help you understand what is at stake with each asset and will prioritize ownership of those which provide the most value to you.
An attorney can help you minimize consequences
Divorces have the potential for serious tax and business consequences that an attorney can mitigate. If you own a company, you may worry that your spouse will try negotiating a share of it as part of their settlement. Your attorney can help you overcome their claims and propose an equitable alternative that allows you to retain control. Furthermore, your attorney will understand the tax implications of dividing your investment and retirement accounts. You may not know how to split these, nor about the different documents you must file to do so. With the help of your attorney, you can obtain, complete and report these to guarantee a tax-free transfer of assets on your part.
Attorneys play a crucial role in most divorces, especially so in high net-worth splits. As you navigate the complexities of proceedings, yours will stand up for your interests. And they will ensure any settlement your spouse receives does not leave you at a disadvantage.