Dividing Wealth in a Florida Divorce: What the Law Really Says
Many people walk into divorce thinking everything will be split 50/50—but that’s not how Florida law works. Florida follows the principle of equitable distribution, meaning everything gets divided fairly, not necessarily equally. When significant wealth is involved, “fair” becomes complicated—and expensive if you don’t handle it properly.
1. What Counts as a Marital Asset?
In Florida, anything acquired during the marriage is presumed to be marital. This includes:
– Salaries and bonuses
– Real estate purchases
– Business income and appreciation
– Retirement contributions
– Investment accounts
– Vehicles, luxury items, and even reward points
On the other hand, non-marital assets may include:
– Property owned before marriage
– Inheritances (if not commingled)
– Gifts from third parties
– Certain trust assets
But watch out: commingling can turn ‘yours’ into ‘ours.’
2. How Are Assets Divided in High-Income Cases?
High-net-worth clients often face:
– Valuation battles
– Forensic accounting
– Tracing of separate assets
– Tax consequences
3. What About Debts and Liabilities?
The court will also look at:
– Mortgages
– Credit card balances
– Business liabilities
– Tax obligations
– Student loans
4. How to Protect Yourself
– Don’t assume ‘what’s mine is mine.’
– Keep documentation
– Avoid informal agreements
– If you own a business, get a valuation early
5. Why Legal Strategy Matters
We help clients:
– Protect their interests
– Understand tax impacts
– Avoid costly mistakes
You don’t have to have all the answers to get started. A confidential consultation can give you clarity and help you develop a strategy – even if you haven’t decided whether to file yet.
Call us today to schedule a confidential consultation, your future self will thank you.
**Please note to ensure you receive a timely response from a member of our staff, please include family@costalawyers.com in all email correspondence. Thank you **
