For many couples, discussing how to divide marital wealth in the event that their marriage fails is hardly a romantic topic. Many couples simply avoid the issue altogether, hoping the subject is one that never deserves their close attention. In cases where a high asset divorce is the eventual outcome, many spouses in Florida will wish that they had better understood the alimony and property division process.
Alimony is not a one-size-fits-all proposition. When a couple achieves significant wealth, the manner in which that wealth was accumulated can play a central role in property division and alimony negotiations. Even when one party was the clear breadwinner in the relationship, if the other spouse set aside his or her own career to support the career of the other partner, an argument can be made that he or she deserves a greater share of marital wealth.
Another issue involves matters of intellectual property and royalty income. When one spouse creates a work of art or another enduring thing of value, his or her spouse can lay claim to a portion of the resulting assets. That can translate into having to pay an ex partner for many years after the marriage has come to an end.
Understanding alimony and property division prior to walking down the aisle is important. Hindsight is always 20/20, especially in the case of a high asset divorce. Many Florida residents wish that they had engaged in a sincere and frank discussion about a prenuptial agreement before tying the knot.
Source: theweek.com, “How marriage can transform your finances – for better or worse“, Amanda Gladin-Kramer, Oct. 19, 2017