In the state of Florida, a measure of what is called “Equitable Distribution” is used and the intent is that any property obtained during the course of the marriage be distributed to the actual spouse that “earned it.”
Fair and Equitable Distribution In A Tampa High-Income Divorce
During the course of a high-income divorce in Tampa, all of your assets, as well as your liabilities are intended to be divided between you and your spouse in a fair and equitable manner. If one spouse worked while the other earned a degree, what is fair and equitable if a property is later obtained by the financial means of the spouse that earned a degree? These questions and more require an in-depth review and evaluation that require the attention and eye of an experienced High-Asset Divorce attorney.
Locate and obtain copies of tax returns
Pull bank account statements
Pull financial account statements (like stocks/bonds)
Locate pay stubs
Locate and copy account payable/receivables
Qualifying factors for Alimony in Tampa High-Asset Divorces:
- A standard of living that was acquired and/or established during the course of the marriage.
- The actual length of your marriage with the bar being short-term marriage, moderate-term marriage and long-term marriage.
- The ages of each spouse, and even the physical and emotional health of each spouse.
Marital Property In High-Asset Divorces
Many divorcing couples argue over who gets what property and asset and who is entitled to what. In the state of Florida, the property is generally divided 50/50 only when considered “Marital Property”. Marital property is generally defined as that which was acquired during the course of the actual marriage.
Any property or assets that were acquired prior to the marital date is not intended to be divided equally as it precedes the marriage. There is no guarantee, within the marital property, that you end up with the property that you believe that you are entitled to, as 50/50 equitable distribution may not apply to some property/assets and because complex divorces tend to be that much more complicated, you need an experienced Tampa High Asset Divorce attorney at your side.
Spousal Support/Alimony In High-Income Divorce
In the state of Florida, alimony can be granted to a spouse as a temporary rehabilitative situation or even to bridge a gap. The intention is to assist the receiving spouse in rising to a level where they are better able to provide for themselves. This is intended to be a temporary solution but in some instances can become more permanent.
Business Ownership In Tampa High Asset Divorces
In the state of Florida, the same operation of Equitable Distribution that applies to marital properties also applies to assets. These are generally sought for a 50/50 split however, fair and equitable may not amount to 50/50 and can include financial accounts, business assets, and more. If the business was acquired prior to the marital date, the business is not considered Marital Property. Business can become more complex depending on the circumstances. Does one spouse want to sell? Can the spouses agree to sell? Does one spouse want to buy the other spouse out?
What About Retirement Accounts In Tampa High-Asset Divorces?
As mentioned above, Florida operates on Fair and Equitable distribution, which can include Retirement Accounts. Because a High-Asset divorce lends itself to more layers of assets, it may be possible, to keep your retirement account should other distributions create a fair and equitable division for your spouse. You may indeed be able to hold on to your retirement accounts, 401k, etc, should the court decide that other assets are valued in such a manner that equitable distribution can be obtained by alternative assets and means.
Tampa High Income Divorce Attorney
You may be thinking, “Where can I find a divorce lawyer near me?” Anton Garcia Law’s family law attorneys are compassionate, experienced and dedicated to representing your best interests. Contact us today! Serving the following Florida areas:
- Tampa, St Petersburg
- Land O’ Lakes
- Plant City
- Downtown Tampa
If you are looking for a Tampa family law attorney, look to Anton Garcia Law, a 2021 and 2022 SuperLawyer “Best Attorney” award winner. Our office is located near beautiful downtown Tampa, where we proudly serve clients from around the state of Florida.