For many Florida couples who are ending their marriage, navigating the process is difficult. There are many things that people may not understand until the divorce has been finalized. There are also issues that those who have gone through one wish they had known in advance.
Both spouses should have an understanding of the value of their marital property. All property can lose or gain value depending on the market. Even high value items can depreciate. Both spouses should complete financial statements so that there is an understanding of how the property is viewed. Any discrepancies may be investigated by their respective divorce attorneys. This can also be important if one person wants to remain in the marital home after the divorce. If the mortgage can't be refinanced, selling the home should be heavily considered.
Considering future expenses after the divorce is another big concern for many individuals. Using a net worth and budget sheet can help determine what life will look like even with alimony payments and child support. If keeping certain assets is not possible, this is the time to figure out other options.
A high asset divorce can take time and money to finalize. If there are a lot of marital assets at stake, the respective family law attorneys for each party may assist with determining the value of the property and help with making the decisions regarding selling the property or splitting it between the two parties as part of an overall settlement agreement that can be presented to the court for its approval once completed.