Tag Archive for: marital home

Asset Protection and Florida Divorce

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If you are facing divorce in Florida and have accumulated substantial assets, you may be wondering what asset protection strategies are available. Fortunately, there are some steps to consider, both before and during divorce. Florida is an equitable distribution state, meaning the law divides marital assets fairly, though not necessarily equally. Below are some methods to explore (please note that this is just an overview, and you should speak with a lawyer to determine if these apply to your situation and how to employ them):

Asset Protection Before Divorce

Prenuptial or Postnuptial Agreements.

A prenuptial agreement is signed before a marriage, and a postnuptial agreement is signed during a marriage. Both can be legally binding agreements that essentially allow you to make your own law and specify how assets will be divided and spousal support will be handled in case of divorce. These agreements must be entered into voluntarily, with full disclosure of assets, and include other elements that can help ensure that it holds up if challenged.

You can learn more about prenuptial and postnuptial agreements here.

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Divorce: Who Gets The House?

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If you are like most other individuals in Florida, your home is your most valuable marital asset. So if you are contemplating a divorce, one of your first questions will likely be, who gets the house, if anyone?

You may be concerned that your name is not listed on the deed of your marital home. However, in Florida, if you purchased the home during your marriage using marital funds, your home is presumed to be marital property, regardless of in whose name it is titled. This means that each spouse is entitled to half of the equity in the home (and responsible for half the loss if it has lost valued).

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Video: Tampa Real Estate Agent Discusses Collaborative Divorce

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Tampa real estate agent Rande Friedman was recently interviewed on the topic of collaborative divorce.  Rande, of White Glove House, has lived in the Tampa Bay area for the past 30 years, and he has been in the real estate industry for around ten years.

Rande is also a member of Next Generation Divorce, one of the nation’s largest interdisciplinary collaborative practice groups with professionals helping families in Hillsborough, Pinellas, Pasco, Sarasota, and Manatee Counties.  Rande became involved in Next Generation Divorce after he helped a family who used the collaborative process in their divorce.  Rande found them in a better state of mind to agree upon their real estate needs and move on with their lives compared to clients who had litigated their divorce.

You can find a video and partial transcript of Rande Friedman discussing his experience with families transitioning via collaborative divorce after the jump:

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