November 30, 2016

What Will Happen to Your Assets Without a Prenuptial Agreement?

What Will Happen to Your Assets without a Prenuptial Agreement?

Florida law requires an equitable, or fair, division of property between spouses when divorcing. All marital assets and debts (those acquired/taken on both separately and together during the marriage regardless whose name in which the asset is titled in) will be divided.  In Florida, the law presumes the marital assets will be divided equally between the divorcing parties.

A prenuptial agreement is your best insurance policy that your assets owned prior to your marriage, will remain yours in the event of a divorce. But even if you don’t have one in place, there are still ways to protect what you have worked for and things that are important to you.

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“Separate” is the key word. Many of the issues related to asset division come when there is a blurred line between marital and non-marital assets. To ensure this doesn’t happen:

Get evidence of what certain things are worth at the time of your wedding.

  • Have your business valued before you get married. Knowing the value of your business around the time you got married allows the court to easily carve out the appreciated amount during the marriage, at the time of divorce.
  •  Make copies of your retirement account statements. These balances will allow your lawyer to show what portion of the accounts should fall squarely in your name and what portion should be divided.
  • Hire an experienced, high net worth Florida divorce attorney. Lawyers with a history of dealing with property division are better equipped to deal with the intricacies of the process.

If you are still on good terms with your spouse and you are both focused on achieving a mutually-satisfying divorce outcome, you may also want to consider opting for an attorney with a specialty in collaborative divorce. To learn if collaborative divorce may be right for you, read our blog "How Does Collaborative Divorce Work in Florida?". 

While we always want to assume the best, it is important to also prepare for the worst. A prenuptial agreement provides that asset retention prevention, but other strategies may help guarantee you walk away with the assets that should be yours.

 

Sources: ABC NewsCredit.com

 

Board Certified Marital and Family Law Attorney Charles D. Jamieson understands that divorce is an extremely sensitive and important issue. Thanks to extensive experience and a focus on open communication, Attorney Jamieson adeptly addresses the complex issues surrounding divorce while delivering excellent personal service. To discuss issues related to your pending or anticipated divorce or regarding obtaining a prenuptial agreement, please contact The Law Firm of Charles D. Jamieson, P.A. online or call 561-478-0312 to schedule a consultation.

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