High Value Property Division

High value property is often one of the most divisive aspects of a divorce. When it comes to property division in a divorce, Florida is an “equitable division” State, which means marital property will be divided equitably or fairly. It’s important to note, equitable and fair property division under court rules doesn’t necessarily equate to equal division. The court will consider various factors when dividing marital assets including the duration of the marriage, income gap between spouses, the nature of the marriage ending, debts, and other relevant factors.

For spouses who are dividing high value property, it’s imperative to work with a skilled Fort Lauderdale family law attorney who understands the complexities of divorce and property division. Bacchus Law Firm has extensive experience handling hundreds of divorce cases and has the necessary resources to assist you during this difficult time.

High Value Property Division Attorney, Fort Lauderdale FL

If you’re in the middle of divorce proceedings and share high value assets with your ex, you’ll need experienced legal representation to advocate for what’s yours. At Bacchus Law Firm, family law lawyers Nisha E. Bacchus and Russell J. Williams have provided quality legal counsel to hundreds of Floridians navigating a divorce. We can do the same for you.

Going through a divorce is not an easy process so you should not try to face it alone. Call (954) 500-5555 to schedule a consultation with one of our Fort Lauderdale high value property division lawyers. Bacchus Law Firm accepts Miami-metropolitan area in counties such as Broward County, Broward County, Hendry County, Palm Beach County, and Miami-Dade County, FL.

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Equitable Division of Marital Property

As stated previously, the state of Florida follows equitable distribution rules. Florida judges weigh the following factors when diving marital property in a fair and equitable manner:

The contribution to the marriage by each spouse, including contributions to the care and education of the children and services as homemaker
The economic circumstances of the parties
How long the marriage lasted
Any interruption of personal careers or educational opportunities of either party
The contribution of one spouse to the personal career or educational opportunity of the other spouse
The desirability of retaining any asset, including an interest in a business, corporation, or professional practice, etc.
The contribution of each spouse to the acquisition, enhancement, and production of income or the improvement of, or the incurring of liabilities to, both the marital assets and the nonmarital assets of the parties
The desirability of retaining the marital home as a residence for any dependent child of the marriage
The intentional dissipation, waste, or destruction of marital assets after the filing of the petition or within 2 years prior to the filing of the petition
Any other relevant factors

Marital Property and Separate Property in Florida

Marital property in Florida is property acquired by either spouse during the marriage. Under Florida Statute 61.075, marital property or “marital assets and liabilities” is constituted as:

Assets acquired and liabilities incurred during the marriage, individually by either spouse or jointly by them
Enhancement in value and appreciation of non-marital assets
Interspousal gifts (i.e., from one spouse to the other) during the marriage
The paydown of principal of a note and mortgage secured by nonmarital real property
All vested and nonvested benefits, rights, and funds accrued during the marriage in retirement, pension, profit-sharing, annuity, deferred compensation, and insurance plans and programs

It’s important to note that the statute also clarifies that real property held by the parties as tenants, whether acquired prior to or during the marriage, is also classified as a marital asset.

Separate property, or nonmarital property, is property that a spouse owned before the marriage. This type of property is not subject to division when a couple pursues a divorce in Florida. Section 61.075 states that “nonmarital assets and liabilities” include:

Assets acquired and liabilities incurred by either spouse before the marriage
Income derived from nonmarital assets during the marriage unless the income was treated, used, or relied upon by the parties as a marital asset
Any liability incurred by forgery or unauthorized signature of one spouse signing the name of the other spouse
Assets and liabilities excluded from marital assets and liabilities by valid written agreement of the parties
Assets acquired separately by either party by non-interspousal gift, bequest, devise, or descent, and assets

Hidden High Value Assets

Hiding high value assets is common in cases where property is divided. A husband or wife can hide cash, jewelry, bank account statements and many other types of assets. Unfortunately, if one spouse is unaware of the other spouse hiding assets, the court will not be able to properly divide those assets.

In Florida, any couple filing a dissolution of marriage must comply with mandatory disclosure requirements which require spouses to provide tax returns, exchange bank account statements, pay stubs, and more. A mandatory disclosure can be beneficial in discovering hidden assets.

If you feel that your spouse may be hiding assets in your divorce, a skilled family law attorney can help you discover them and achieve a fair distribution of property.

Additional Resources

Florida Statutes: Equitable Distribution of Marital Assets – Access the official website for the Florida Statutes to read about equitable distribution of marital assets and liabilities. You can learn how Florida law constitutes marital assets and nonmarital assets. The statute also discusses how property is divided when a couple files a divorce.

Florida Bar: Divorce in Florida – Click the link provided to access the official website for the Florida Bar. The site offers a consumer pamphlet on divorce which discusses different topics such as domestic violence, collaborative law, child support, alimony, and tax considerations. You can also read about restoration of former name.

Fort Lauderdale Property Division Lawyer, FL

High value property division is a complex area of family law and can be one of the most stressful challenges involved when a couple file for divorce. Therefore, it is advisable to acquire an experienced Fort Lauderdale divorce lawyer who can help you navigate this stressful process. At Bacchus Law Firm, family law attorneys Nisha E. Bacchus and Russell J. Williams have many years of experience fighting for clients in high value property division cases. Allow us to pursue your best interests.

[{$firm]] has an office in in Ft. Lauderdale, just minutes from Broward County Central Courthouse. We also serve clients in Broward County, Palm Beach County, Collier County, and Miami-Dade County. Call (954) 500-5555 to secure a confidential consultation and have one of our high value property division lawyers help you through this difficult time.

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401 E Las Olas Blvd #1400
Fort Lauderdale, FL 33301