Six Common Issues In Tampa High Asset Divorce Cases
One of the things couples fight about most when getting a Tampa divorce concerns the right to money, property, and other marital assets. This can cause serious disputes and delays in any divorce proceedings and is particularly common in high-asset cases.
A high-asset divorce in Tampa is when one or both parties are high earners, the recipients of an inheritance, or otherwise have wealth. While state laws apply equally among all Florida residents, regardless of financial worth, a high-asset divorce is typically more complex. Our Tampa divorce lawyer explains six common issues and how to protect your rights.
- Division of Marital Property
One of the biggest issues in a Tampa high-asset divorce is marital property and asset division. Under the Florida Statutes, the rules of equitable division apply. Anything earned, acquired, or accumulated during the marriage must be divided on a fair, but not necessarily equal, basis.
High-asset couples often have a prenup or postnuptial agreement in place. This needed to be reviewed immediately by an experienced Tampa divorce lawyer, as it could have major impacts on your rights in a settlement.
- Alimony Payments
Alimony is another frequent point of contention in high-asset divorces. You may be entitled to spousal support in Tampa if you make significantly less than your former partner or sacrificed your career for theirs.
Previously, alimony payments helped in maintaining the same lifestyle enjoyed during marriage. However, Florida alimony reform laws now allow for only modest and ’reasonable’ expenses. This amount may be further reduced by pre or postnuptial agreements.
- Hidden Assets
Your spouse may try to hide certain property or assets in divorce to avoid splitting them. Hidden assets are particularly common in high-asset divorces, and a forensic accountant may be needed in particularly complex cases.
- Inaccurate Appraisals
Property in a high-asset divorce In Tampa should be carefully valued. Consider current value, what you paid for it, replacement costs, maintenance fees, and what the particular property or asset might be worth in the future.
- Tax Implications
In Tampa high-asset divorces, certain types of property or assets may need to be sold, liquidated, or otherwise cashed in. There are frequent transfers of money, homes, cars, and other items worth significant sums. Be sure and discuss tax implications with your Tampa divorce attorney prior to accepting any settlements.
- Privacy Concerns
High-asset divorce cases are typically harder to resolve. If couples are unable to agree on the terms, they may have to go to court. In addition to the public scrutiny high-asset divorces in Tampa typically generate, divorce proceedings held through the Hillsborough County Family Court become part of the public record, allowing others to easily access potentially sensitive information.
Request A Confidential Consultation With Our Tampa Divorce Lawyer
Bubley & Bubley, P.A. provides the kind of fierce, professional legal representation you need when going through a high-asset divorce in Tampa. To protect both your rights and your privacy throughout these proceedings, contact our office and 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
abcactionnews.com/news/region-pinellas/divorcees-deal-with-changes-to-florida-alimony-laws
hillsclerk.com/court-services/family-law
