Tampa High Asset Divorce Lawyer

Florida is an equitable distribution state. What this means is that assets and debts are classified as either marital or non-marital. 

Those assets and debts that are marital need to be divided equitably, or fairly, between the spouses upon divorce. Equitably does not necessarily mean equally.

Valuing marital assets can be problematic in a high asset divorce. While problems can arise in dividing marital assets at any level of income, they become even larger when one or both spouses have significant assets.

To obtain a meaningful evaluation, lawyers call upon experts to value assets such as:

• Art
• Real estate
• Leases
• Furnishings
• Jewelry
• Pensions
• Profit sharing plans
• Employee stock options
• Stocks and bonds
• Business interests
• Professional practices

Our Firm Can Help Determine Income

Another major issue in high asset divorce is determining income. Alimony and child support payments are based on income, and thus it is imperative to have a figure for the court to work with when making an award of alimony or child support.

When parties work for corporations at an annual salary, tax returns can be used to show income. But if a spouse is self-employed or owns a professional practice, income records may need to go beyond the simple IRS returns. A forensic accountant can be of great help in determining actual income in these types of cases.

Some businesses pay personal expenses that do not show as income and may be hidden. These include:

• Meals
• Travel
• Entertainment
• Telephone
• Auto expenses

All of these business expenses can add significantly to the reported income of a spouse. Thus, it is important to have experts on hand who can come up with appropriate figures so that proper awards for alimony and child support can be made.

How an Experienced Tampa High Asset Divorce Lawyer Can Help

An experienced Tampa high asset divorce lawyer can provide critical support when navigating the complexities of a high-net-worth divorce. High asset divorces typically involve significant financial assets, such as real estate, investments, business interests, and retirement accounts.

Properly valuing and dividing these assets requires expertise and careful attention to detail.

A skilled attorney can help by:

• Asset Identification and Valuation: Your lawyer will ensure that all marital assets are identified and accurately valued, working with financial experts when necessary to uncover hidden assets or appraise complex financial holdings.
• Negotiating Fair Settlements: High asset divorces often involve significant negotiation. Our attorney can protect your financial interests during property division, spousal support, and other settlement discussions.
• Tax Implications: Dividing substantial assets can have significant tax consequences. Our knowledgeable attorney will guide you through the tax implications of your divorce, helping to reduce potential financial burdens in the future.
• Business Interests: A high asset divorce lawyer will ensure that a business is fairly evaluated and divided or kept by one spouse depending on the circumstances.

By working with a Tampa high asset divorce lawyer, you gain a strong advocate who will fight for your financial future and ensure a fair outcome.

Contact a Tampa Bay Skilled & Compassionate Family Lawyer

If you have questions about any aspect of Florida divorce law, the legal team at The Law Offices of K. Dean Kantaras, P.A. are available to assist you in navigating confidently through all family law issues. Our attorneys are ready to provide you with the skilled, compassionate, and ardent legal representation that you need to protect your rights and move forward to your future.

Contact the Law Offices of K. Dean Kantaras, P.A. at (727) 939-6113 to speak with an experienced divorce lawyer today.