A divorce is one of the most stressful life events that an individual can go through. Because of the emotions surrounding the end of a marriage, it is not unusual for a person going through a divorce to make some bad decisions, but some of these can be much more far-reaching than others. For example, deciding to enter into an unreasonable divorce settlement just to speed the process along can have long-term and financially devastating consequences. Miami divorce lawyer Sandy T. Fox has more than 15 years of experience helping his clients negotiate fair and financially beneficial divorce settlements whenever possible. He is Florida Bar Board Certified in marital and family law, and he is ready to go to trial to fight for a more advantageous outcome than a proposed settlement if necessary.
Since Florida is a “no fault” divorce state, some people make the mistake of thinking that there is not anything to contest during divorce proceedings. There are some cases in which this is true; if a couple does not have any children or significant marital assets, a divorce will likely be easier than what would be expected for a couple with a house, a mortgage, and young children. Still, each case is unique, and anyone considering getting a divorce – or served with divorce papers – should talk to an attorney before entering into a divorce settlement.
Equitable Distribution – the Standard for Property Division in FloridaIn a contested divorce in which a court is required to make a division of a couple’s marital property, the trial court judge must make a fair and equitable distribution of all of their marital assets and debts. Florida is not a community property state, so things may not be split in a 50-50 manner if that would not be fair or equitable in the judge’s opinion. Thus, it might be imprudent to enter into a divorce settlement in which each spouse gets an equal share if there are reasons why that would not be equitable under the circumstances. Matters such as the spouses’ relative earning capacities, individual financial conditions, and contributions to the union should be taken into consideration in deciding what is or is not a fair settlement.
An experienced divorce lawyer can help you take an inventory of all of the assets of the marriage (real estate, bank accounts, investments, retirement accounts, etc.), including those that your partner might try to hide. This is crucial because it is impossible to know whether a divorce settlement is fair unless you know all of the assets that each spouse has acquired, as well as any debts or other liabilities. Child custody, child support, and alimony are additional issues that must be addressed in many divorces. The tax consequences of a divorce can also be significant factors in deciding what is or is not a fair settlement; it is important to understand the tax treatment of alimony and child support, as well as the financial impact of no longer being able to claim one or more of your children as dependents at tax filing time.
Talk to an Experienced Miami Attorney During a DivorceThere are many factors that can go into determining a fair divorce settlement, and it is important that a person going through a divorce understand each of these variables. Making a quick decision to accept a settlement offered by your spouse’s lawyer can result in financial hardship and a substantial lowering of your standard of living. Seasoned divorce lawyer Sandy T. Fox advocates for people who are going through the emotionally trying process of a divorce. While a divorce may be something that the average person goes through only once in a lifetime, our office deals with divorce settlements and the issues surrounding them on a daily basis. To set up an appointment to learn about how we can help during this difficult time, call us now at 800.596.0579 or contact us online. We serve people in Miami, Aventura, Hollywood, and other cities in Miami-Dade and Broward Counties.