Protecting Your Assets During A Divorce In Tampa
Getting a divorce in Tampa is rarely done without a certain amount of infighting. One of the areas in which divorcing couples are most likely to have disputes is over property and asset division.
Whether you own a home, a business, investments, or other valuable assets, take steps to protect what is rightfully yours. In Florida, marital assets are divided equitably, rather than evenly. Our Tampa divorce lawyer explains the key strategies to safeguard your assets before, during, and after divorce proceedings in Hillsborough County.
Protect Your Rights To Marital Property and Assets in a Tampa Divorce
Under Section 61.075 of the Florida Statutes, courts aim for an equitable distribution when dividing marital property in a divorce. You are entitled to a fair share of all assets acquired or accumulated during your marriage, regardless of whose name is on the title.
Getting what you are entitled to in a divorce settlement or final order helps to protect your financial security post-divorce proceedings. Our Tampa divorce attorney recommends these steps:
- Do a thorough inventory of all marital assets, debts, and items that might be considered pre-marital property;
- Keep detailed financial records that show when and how you acquired specific assets;
- Avoid commingling funds, such as depositing premarital assets into a joint account;
- Document contributions to jointly owned property, especially when using separate funds;
- Value assets accurately, including retirement accounts, real estate, and business interests.
Once a final divorce order is issued, you are entitled to take ownership of any property and assets awarded. If your spouse refuses to comply, they can face serious penalties.
Legal Tools That Protect Your Rights To Assets Prior To Hillsborough County Divorce Proceedings
Losing rights to property or certain assets due to a divorce in Tampa can negatively impact your life for years into the future. Fortunately, there are ways to protect yourself long before a divorce ever happens. The following are tools that can help if you are entering a marriage with a business or other assets or expect an inheritance in the future:
- Prenuptial Agreements: Signed before the wedding, these specify premarital property and how marital assets are divided in a divorce.
- Postnuptial Agreements: Similar to prenups but created during the marriage, these agreements clarify financial boundaries and expectations.
- Trusts or LLCs: Placing assets in a trust or limited liability company (LLC) can separate them from the marital estate.
- Updating Legal Documents: Ensure titles, account ownership, and beneficiary designations are correct and consistent with your estate and financial planning goals.
Consult Our Experienced Tampa Divorce Lawyer To Protect Your Assets
Getting a divorce in Tampa can be emotionally and financially draining. Not getting your fair share of marital property and assets can impact you long into the future. To protect your rights, contact Bubley & Bubley, P.A.
We help clients throughout Hillsborough County safeguard their property and prepare for any unexpected issues that arise. Whether you’re considering a divorce or have already begun the process, we are here to help. Request a confidential consultation with our experienced Tampa divorce lawyer today.
Sources:
leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0000-0099/0061/Sections/0061.075.html
hillsclerk.com/court-services/family-law
