The financial settlement in a Florida high asset divorce is calculated based on the division of marital property through equitable distribution, the allocation of debt, the alimony established on the financial needs of the receiving spouse, and the child support calculations.
A high net worth divorce settlement agreement represents a legal document containing the terms of the divorce. Four significant issues need to be negotiated and resolved in a high asset divorce settlement:
When a prenuptial agreement is in place, certain assets will be excluded from being deemed marital property.
Each of these points of interest needs to be fully addressed in a high net worth divorce settlement calculation so that there is a clear understanding of what each spouse will receive and need to pay once the marriage is dissolved.
A Florida court overseeing a divorce must make several choices. Choosing a fair way to divide the marital estate is especially important. In addition, if the divorcing couple has children together, the court must decide how much child support to order and whether alimony is appropriate. A lot of information about the parties, assets, liabilities, income sources, and debts may need to be taken into account by the court in each of these rulings. Generally speaking, an asset is any piece of property with a known present value. The marital home, additional homes or properties the couple may have acquired, collectibles, tools, clothes, and vehicles are a few examples of assets frequently included in Florida divorces. Anything that consistently generates monetary revenue for the owner is referred to as an income stream. This would cover business interests, stocks, pensions, and retirement plans. Income streams are typically important when deciding whether alimony is appropriate and how much child support the paying spouse should pay, even though assets are usually considered when the court divides the marital estate.
It is always advisable to work toward a divorce settlement that you can be in control of, but some cases will require a trial to establish what is fair for both parties involved. A skilled attorney can counsel you on when you need to settle versus to keep on fighting for your financial future.
Only a knowledgeable lawyer can walk you through the various financial considerations that go into how a high asset divorce settlement is calculated and aid you in achieving a fair outcome in your case. When negotiating a divorce settlement agreement, you need to make sure all the financial information is appropriately gathered.
The Florida courts will consider several factors when determining a high asset divorce settlement:
For example, if your income is similar to that of your spouse, the marital assets and debts could be split more or less equally. But if you earn significantly less than your partner, you might pay less of the debt and be entitled to alimony. Florida courts will look into various factors to see whether alimony should be awarded, including:
When children are involved, special provisions will be in place for custody and visitation rights. Based on Florida’s child support guidelines, the main factors determining the amount of support required constitute of:
Do not hesitate to schedule a confidential and free-of-charge consultation with The Law Offices of Sean M. Cleary. We aim to ensure that your best interests are protected in a contested divorce, especially when high assets are involved. Our experienced Miami high net worth divorce lawyer utilizes sound financial principles when assisting clients in complex high net worth settlement scenarios involving spousal support and different types of marital assets.