Complex Property Division
Complex property division can be a challenging issue to resolve in a Florida divorce, particularly when the couple has a high net worth or assets and property that are difficult to value. When significant financial assets are at stake, you should retain an attorney with experience in this type of property division to protect your interests. West Palm Beach divorce lawyer Jessica Mishali is prepared to lead you through the process with compassion and legal insight. She has the skill and dedication to pursue a fair outcome on your behalf in a divorce involving complex property division.Complex Property Division in a Florida Divorce
In a Florida divorce, a couple’s property and assets are subject to equitable distribution. This means that marital property is divided fairly between the spouses, but not necessarily equally. Several factors are considered for an equitable distribution of property, such as the financial and domestic contributions made to the marriage by each spouse, the duration of the marriage, and the financial situation of each spouse, among others.
In a typical divorce, the marital property includes the home where the couple resides, their vehicles and physical belongings, and financial and retirement accounts. These types of assets are routinely dealt with by divorce attorneys and the courts, so even when the issue is contested, the process is relatively straightforward. Conversely, other assets may be more complicated to divide, for various reasons. Some of the issues and assets that may involve complex property division include the following:
- Business ownership
- Professional practices and partnerships
- High asset divorces
- Real estate investment properties
- Intellectual property
- Stock options
- Tax consequences
- Qualified Domestic Relations Orders (QDROs)
- Comingled assets or transmuted property
- Hidden assets
There are several reasons for complex property division in a Florida divorce. For example, a high net worth couple may own a substantial number of assets and properties, each of which must be identified as marital or separate property and valued. In some cases, the separate assets of one spouse may become comingled with marital assets, and an accounting may be necessary to determine which assets are subject to division.
Valuation is another aspect of complex property division. Assessing the value and worth of each of the couple’s assets is usually necessary for an equitable division of marital property. The valuation of a family business, medical or legal professional practice, or a closely held company involves multiple considerations, such as goodwill and intellectual property. Valuation of business property, artwork, unconventional investments, and other assets may require subjective and/or sophisticated valuation methods. When the valuation of an asset is complicated or in dispute, it may be necessary to retain an expert to provide a professional appraisal.
Settlement negotiations in a divorce may be important to avoid or minimize significant financial losses when possible. However, making informed decisions regarding a property agreement requires a complete disclosure and accurate valuation of all of the couple’s assets. If complex property division is not handled correctly, there is a risk that the outcome will be unfair to one or both of the spouses. A divorce lawyer in West Palm Beach can adequately protect your interests and provide guidance during the entire process.Discuss Complex Property Division with a Divorce Attorney in West Palm Beach
If your divorce involves complex property division, a skilled lawyer can address any concerns you may have and help you pursue an equitable resolution. Jessica Mishali handles divorce and family law issues throughout Palm Beach, Broward, and Martin Counties, particularly Fort Lauderdale, Boynton Beach, Jupiter, Wellington, Hollywood, Pembroke Pines, Davie, Stuart, Palm City, Jensen Beach, Pompano Beach, Boca Raton, Hobe Sound, Hallandale Beach, Delray Beach, Royal Palm Beach, Indiantown, Plantation, and Coral Springs. Arrange your free consultation with an experienced family law attorney by calling the Law Offices of Jessica Mishali, P.A. at (561) 833-2772 or submitting our contact form online.