If your Florida divorce property settlement will include complex investments, real estate holdings, business ownership and other high-valued assets, will your attorney have the experience to protect your financial interests?
Our attorneys have the knowledge and experience needed to help you with all of your property division needs. We know that your financial future is on the line, so we don't take chances. We work with a network of independent professional experts in the areas of asset identification and recovery, qualified domestic relations orders (QDRO), actuarial accounting, business valuation, equity values, investments and marital property classification. We prepare the strongest, clearest case possible to make sure your property settlement is fair and protects your financial future.
Handling Hidden Asset Cases:
Alimony/spousal support payments are based on statutory factors found in Florida statute section 61.08, including the need of one spouse for support and the ability of the other spouse to pay. However, either party's financial circumstances may change with time, necessitating a modification.
In a Florida divorce, all property is to be classified as either nonmarital property or marital property. Nonmarital property is personal property that was brought to the marriage by one of the parties and is not subject to equitable distribution. In a high-asset divorce, nonmarital property is often addressed in a prenuptial agreement and protected from litigation.
However, certain types of complex assets and property may increase in value over time. Interest, dividends and increased value that occurred over the course of the marriage or because of commingling assets with marital assets may be determined to be marital property, subject to equitable distribution.
Some investments are difficult to discover, particularly when the assets are invested in an offshore account. We work with independent financial experts and tax specialists to trace income and investment earnings that may not have been shared during the course of the marriage.
Business Ownership And Fair Valuation:
Many people own shares of business operations as silent partners. Sometimes, not even the spouse is aware of the investment agreement. By thoroughly investigating financial reports, earnings statements and other documents, we attempt to make sure every asset is uncovered and properly classified for equitable distribution. We want to make sure to account for the full value of the business or professional practice.
Fraudulent Transfer Of Assets:
In many cases, one spouse will make the decision to file for divorce months or even a year or more in advance of filing the papers. That often gives the spouse ample opportunity to spend down marital assets or transfer money from one account into an investment fund or trust. We will work diligently to trace the money trail of fraudulent transfers to assure that all marital assets are equitably divided.
If you are considering filing for divorce in Florida and your marital property will include ownership of a business or professional practice, make sure your attorney works with high-caliber, experienced business valuation professionals. At Adams, Briggs & Briggs, Attorneys at Law, in Daytona Beach, we work with business valuation experts and professional economists to determine the full value of not only the real estate, equipment and annual accounts receivable, but the value of customer goodwill, growth potential and future value of proprietary intellectual property, as well.
Retirement & Pension Assets:
It is not unusual for a married couple to accumulate a large retirement fund over the course of their marriage. The funds might be in the form of a traditional pension annuity, a 401(k) or an individual retirement account. Under Florida law, all money and earnings accumulated in the retirement fund over the course of the marriage will be subject to equitable distribution between the spouses in the event of divorce - no matter which party contributed the money.
A pension or qualified (un-taxed) retirement account is more than just a lump sum of money. You will be counting on the money to grow in value and provide for your retirement. It is critical that the growth potential for the annuity or fund will be taken into full account over your lifetime. When necessary, we work with independent specialists in the field of qualified domestic relations orders (QDRO) and actuarial financial accountants, when necessary, to determine the full and future value of the amount to be divided.