Divorce Costs: Property Distribution
The two most common concerns for divorcing couples are how much the divorce will cost and how they can protect their children. Child support lawyers in the Fort Lauderdale area can assist you with both of these issues. It is important to understand that children have the right to receive financial support from both of their parents. Thus, paying child support is not a cost of your divorce. As a parent, it is your obligation to financially support your child, regardless of your marital status.
After the costs of emotional trauma, property distribution for couples with substantial assets who were married for more than just a few years is the second largest overall cost component and the highest in dollar costs. Florida is an equitable distribution state, which means that while distribution may result in an even split of the property, an even split is never guaranteed. Spouses who feel they did not receive the property distribution they should have usually cite this as the most expensive part of their divorce.
However, there are ways to make dividing assets a little easier to swallow. Because Florida is an equitable distribution state, spouses have a chance to argue and negotiate for the property distribution they feel is most fair. The good news is that everything is up for negotiation. For example, a spouse with primary child custody may trade a larger monthly child support payment right now for a smaller share of the spouse’s 401(k) payout 20 years down the road.
Factors in distributing property
Florida courts consider a number of things when assessing an equitable distribution. The spouse getting child custody may also receive more of the marital estate. Also, if one spouse has a significantly greater future earning potential, they will often get a smaller property distribution. Spouses who have agreed to pay fair child support and spousal maintenance may receive some mercy when it comes to the property distribution negotiations. Regardless of your circumstances, Fort Lauderdale child support attorneys can guide you through the distribution process.
Work with attorneys who are focused on keeping the cost of your divorce low
The quality of your legal representation can lower your overall divorce costs. Vanessa L. Prieto Law Offices LLC has guided Fort Lauderdale families through divorce for 15 years. Call our Fort Lauderdale office today at 954.687.9143, or contact us and a divorce attorney will respond to you shortly.