Divorce is often viewed as a stressful and overwhelming life event — one that affects not only emotions, but long-term financial stability and family relationships. However, there are approaches that allow families to separate with clarity, respect, and support rather than conflict.
If you own a business and are facing divorce, you may be wondering whether your business bank accounts—the checking, savings, operating, or money market accounts tied to your company—could be considered “marital assets” and divided.
For many professionals, these accounts represent far more than just money. They reflect years of effort, payroll obligations, and the foundation of your financial life. Understanding how Florida law treats business bank accounts can help you protect what you’ve built and choose the right path forward.
Yes. Business bank accounts can be divided in a Florida divorce depending on when and how the business was created, how the accounts were funded, and whether marital income or marital efforts contributed to their growth. Under Florida’s equitable distribution law, the court can treat those funds as marital property even if the accounts are in only one spouse’s name or owned by the business.
Under Section 61.075, Florida Statutes, courts must divide marital assets and debts fairly, though not necessarily equally. Marital assets generally include property or income acquired during the marriage—regardless of whose name is on the account.
That means if your business was formed or operated during the marriage, the funds in its business bank accounts could be considered marital.
If your business predated the marriage, those accounts might begin as nonmarital. Still, any increase in their balance or new deposits during the marriage can be at least partly marital—especially if marital income was added or your marital efforts contributed to the business’ success and growth.
When you are a professional or public figure, your privacy is priceless. Whether you are a business owner, lawyer, doctor, or executive, or the spouse of someone whose reputation is always under a microscope, you cannot afford to have your personal life become the next topic of office gossip or news headlines. What many people do not realize is that, if you and your spouse agree, you can file for divorce in any county in the state of Florida—not just where you live or work.
This option can be especially valuable if you live or work in a high-profile area like Tampa, St. Petersburg, or Sarasota. Filing in a different county—perhaps one where neither of you has a professional presence—can make it much harder for others to easily find your case. A simple agreement on venue can help you avoid having your personal and financial details sitting in a local public courthouse where people recognize your name.
Even better, Florida law now allows couples, if they both agree, to waive the filing of their financial affidavits with the court. This means you may be able to keep most of your sensitive details—like your income, assets, debts, and business interests—out of the public record. We have the experience to help you navigate this process correctly, no matter where you file.
Adversity can strike when we least expect it, disrupting both our personal lives and professional careers. How we respond to these challenges determines our ability to recover and thrive. Collaborative Divorce attorney Adam B. Cordover knows this firsthand. After Hurricane Helene devastated his home and office in September 2024, he faced the daunting task of rebuilding from scratch. Through resilience, strategic planning, and a mindset shift, he not only overcame adversity but also grew his practice by 22% year-over-year.
Here are key lessons from Cordover’s journey that can help attorneys—and professionals in any field—navigate life’s unexpected setbacks.
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Remote work has become an essential part of modern business, including law practices, allowing attorneys to serve clients efficiently without being tied to a traditional office. Collaborative Divorce attorney Adam B. Cordover has built a successful virtual law firm, and his insights provide valuable lessons for business owners and legal professionals looking to optimize their remote practice.
One of the most important aspects of working remotely is setting clear boundaries for focused work. Cordover emphasizes the need to block out uninterrupted time for strategic thinking and business development.
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Co-parenting during a divorce is challenging under normal circumstances, and dealing with the aftermath of a devastating hurricane adds another layer of difficulty. Here are some practical tips to navigate this situation effectively. As a preview, many of these tips can be best accomplished within a Collaborative Divorce.
Keep routines as consistent as possible, such as school, meals, and bedtime, to provide stability. Be honest with your children in an age-appropriate way about what’s happening but reassure them they are safe and loved. Avoid speaking negatively about the other parent in front of the children.
Use clear, respectful, and focused communication to coordinate on parenting issues. Consider using co-parenting apps like OurFamilyWizard or TalkingParents to document agreements and streamline communication if direct interaction is too challenging.
A hurricane might have disrupted your previous arrangements, so work together to create a temporary plan that accounts for housing, transportation, and other logistical challenges. Be prepared to adjust custody schedules based on access to safe housing and resources.
Beginning in August 2024, Family Diplomacy will offer paralegal divorce mediation with our executive paralegal, Jennifer Gunnin.
Going through a divorce can be tough. You may feel sad, angry, and stressed. But there’s a way to make it easier. Jennifer, who has worked closely with divorcing clients at Family Diplomacy: A Collaborative Law Firm since 2013, can help. If you are in Florida, here is why you may want to consider working with Jennifer in a paralegal divorce mediation.
First, Jennifer is a trained professional who has over a decade experience working with divorcing clients. She has seen some things. Like all mediators, she cannot give legal advice, but she can explain things in a simple way so you can understand and choose what common elements you want in your parenting plan and marital settlement agreement. One of her goals is to ensure that you don’t feel lost or confused about what’s happening.
As a family law attorney who specializes in Collaborative Divorce and Family Law, I can confirm what research shows: Collaborative Divorce tends to be successful.
Collaborative Divorce is a private, non-adversarial form of dispute resolution where you and your spouse retain separate, specially trained lawyers who focus solely on helping you reach agreements that work for your family. Oftentimes, you will have the help of a Neutral Collaborative Facilitator who specializes in family dynamics, childhood development, and communication to help keep the process moving forward. You will also usually retain a Neutral Financial Professional who brings efficiency to the process and can help give both of you the information and tools you need to feel comfortable with whatever agreement you reach.
If a Collaborative Divorce does not result in an agreement, or you or your spouse wish to discontinue the process, then it Terminates. This means that both attorneys and all professionals must withdraw from your matter (in other words, they are “Disqualified”), and you can move on with successor litigation lawyers, if you wish.
As I mentioned earlier, Collaborative Divorce tends to be successful, and it is relatively rare for the process to Terminate. A study by the International Academy of Collaborative Professionals (“IACP”) found that 86% of cases ended in a full agreement, with an additional 2% ending in reconciliation between the spouses. Research by the Florida Academy of Collaborative Professionals has found similar results. In my personal practice, 90+% of my Collaborative matters have ended in a full agreement between the spouses. Of course, we cannot guarantee that your Collaborative Divorce will be successful; however, chances are that it will be.
There has been some questions in our local community as to who is Disqualified if a Collaborative Divorce Terminates. I recently wrote an article for The LAWYER Magazine, a publication of the Hillsborough County Bar Association, on the topic. You can find an excerpt below:
Family Diplomacy managing attorney Adam B. Cordover has been selected to serve on the Board of Directors of the International Academy of Collaborative Professionals (“IACP”). Adam will be part of the incoming 2018-2019 Board along with fellow new Board Members Rajan Chettiar of Singapore, Brian Galbraith of Barrie, Ontario, Canada, and Kevin Scudder of Seattle, Washington.
The Board announcement was made in the June 2018 edition of IACP’s Collaborative Connection, along with announcement of IACP’s incoming officers. The announcement is reproduced below:
