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Shared assets important in Florida divorce negotiations

Divorce can be a harrowing situation, signifying the dissolution of what a married couple had hoped would be a successful marriage. Amid the emotions, ranging from sorrow to anger, that can flood a couple during a divorce, it can be easy to overlook critical details during this type of family law proceeding in Florida. A recent article highlights several areas to consider before filing for divorce so that an individual claims their fair share of the cash and other assets that they once shared with a spouse.

First, a person who is going through a divorce should make a list of everything that they and their spouse own together. Although cash in the bank is an obvious shared asset, it can be easy to forget about other more complex assets, such as properties that the couple shares, illiquid investments, or even employer stock options. Some individuals have assets that they have never disclosed to their spouses, so pursuing information about these is critical to achieving a fair split of assets during a divorce proceeding.

Also, if you own a business with your spouse, you could be taken advantage of if you are not privy to what is occurring in the business. For instance, your spouse may know of business opportunities, such as potential acquisitions or new clients, that will positively affect the business' value, but they may not share this information with you. However, this information is essential to accurately valuing the business and determining the share of the business that each spouse is entitled to during a divorce proceeding.

Being prepared by knowing what to research and ask regarding shared assets during a divorce can hugely affect your level of success during this type of family law proceeding. Divorce is not only an emotionally complex situation but also a financially complex one. It is within your right to pursue legal guidance in Florida so that you can get your fair share of the assets owned by you and your spouse.

Source: The Chicago Tribune, Going through a divorce? 3 Common fears and how to eliminate them, Robert Pagliarini, Sept. 4, 2013

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