West Palm Beach High Asset Divorce Lawyer

High Asset Divorce Attorney in West Palm Beach, FL

Ending a marriage in Florida can be a difficult and emotional decision, especially when you have valuable assets involved. No one begins a marriage thinking it will end, but there may come a time when divorce occurs, and you have to decide how to split your property and the life you shared together. An experienced West Palm Beach high-asset divorce lawyer from Benzion Law can protect your rights and the assets that mean the most to you.

​About Benzion Law

​At Benzion Law, our founding and lead attorney, Matthew A. Benzion, is skilled in all areas of family law and has an in-depth understanding of local laws here in West Palm Beach. He has helped countless families navigate complex high-asset divorces throughout the state and is prepared to protect your rights and secure a fair settlement on your behalf. Our firm prioritizes professionalism, responsiveness, and compassionate legal guidance.

​Overview of High-Asset Divorces in Florida​

The United States has one of the highest divorce rates in the world. In fact, in 2023, the divorce rate for first marriages was between 35 and 50%. This report goes on to emphasize Florida’s divorce rate, which sits at about 3.0 divorces for every 1,000 residents. The state was ranked 9th in the nation for divorces.

​A high asset divorce differs from the average divorce in that it involves a wide range of complex, valuable assets. Generally, a high asset divorce in Florida has over $1 million in liquid assets. Because West Palm Beach is well-known for being a wealthy suburb, high-asset divorces are exceedingly common.

​Understanding Equitable Distribution Laws in Florida

​If a couple is divorcing in Florida, their shared property must be split according to equitable distribution laws. Shared property is also known as marital property, and includes any assets or debts that a couple may have gathered while they were legally married in Florida. All marital assets must be identified and then valued to make sure they are distributed. These assets are identified and valued to determine how they can be distributed to each party.

​Marital property in a high-asset divorce may include:

• The family home
• Luxury real estate holdings or investments
• Luxury vehicles like sports cars and yachts
• Investments
• Shared bank accounts
• Furniture
• Art
• Jewelry
• Retirement accounts

It is important to note that any assets obtained before a marriage or after a separation cannot be divided during divorce proceedings. Separate property generally includes assets that one spouse acquired before their marriage, but can also include gifts or inheritances given solely to one spouse during the marriage. To make sure your separate property is protected in your high-value divorce, it’s key to hire a high asset divorce lawyer.

​How Is Property Divided in a High-Asset Divorce in West Palm Beach?

​With equitable distribution guidelines in mind, it is up to the couple or a family judge to create an agreement that fairly splits all marital assets in West Palm Beach. There are several factors that you or a judge must consider to make a fair agreement, including:

• ​Your Standard of Living. The lesser-earning spouse is entitled to enough money to uphold their current lifestyle.
• Income. The income of both parties is assessed, and their earning potential is calculated.
• Length of Marriage. The length of your marriage can impact the amount of assets you’re dividing as well as potential spousal support. The longer a marriage lasts, the longer spousal support may last.
• Health and Age. The health and age of each spouse are taken into consideration to make the settlement fair for everyone.
• Contributions to the Relationship. Not only are financial contributions assessed, but raising children and running the household are also considered.
• Whether Children Are Involved. If children are involved in a high-asset divorce, assets may be divided in a way that benefits the child.

Our skilled family lawyer at Benzion Law can help you work toward a fair divorce settlement in West Palm Beach, even when complex assets are involved.

FAQs

What Assets Cannot Be Touched in a Florida Divorce?

Separate property, which includes assets that were acquired before the marriage, is usually untouchable in a divorce. If a premarital agreement was signed entitling one spouse to an asset, that agreement can also be honored during a divorce. Anything acquired after the separation is not factored into the divorce. You should consult with a knowledgeable family law attorney to review your situation and make sure your separate property stays protected.

Are Assets Split 50/50 in a Divorce in Florida?

Florida is considered an equitable distribution state, meaning the split of assets may not be 50/50. While the state assesses a myriad of factors to make a fair decision, the division of assets will likely be “fair” but not “equal.” For example, if a mother receives primary custody, she may be given the family home if it’s the primary residence where the children are living. This may be a large asset in the couple’s portfolio, so the other spouse would receive an asset of similar value.

Do I Get Half of My Spouse’s 401(k) in a Divorce in Florida?

Yes, you may be able to receive part of your spouse’s 401(k) if you divorce in Florida. Because retirement accounts are considered shared assets in Florida, the funds within the account may be divided upon divorce. The amount can be discussed during mediation. If an amount cannot be agreed upon, a lawyer can help you take your case to litigation. It’s important to note that since Florida is an equitable state, the amount you receive from the 401(k) may not be half.

What Is the Seven-Year Rule for Divorces in Florida?

The seven-year rule in Florida classifies marriages as either short-term or long-term. A marriage that lasts under seven years is considered short-term, while a marriage that lasts more than seven years is considered long-term. The state sees a long-term marriage as involving more sacrifice, which may warrant more spousal support for longer periods of time. Your lawyer can help you understand how this rule impacts your case.

Hire a High-Asset Divorce Lawyer in West Palm Beach Today

If you’re facing a high asset divorce, let Benzion Law be your legal advocate. Our team shares comprehensive knowledge of divorce and property distribution laws here in Florida and is prepared to protect the assets that mean the most to you. Contact us today to schedule a consultation.