Divorce comes with complex challenges emotionally, spiritually and financially. When it comes to the equitable distribution of property, a Florida divorce can take many different twists and turns. Although it is uncommon, some high asset divorces may spend years in court – which is a situation that divorcing couples should strive to avoid at all costs.
Recently, the divorce of a Florida State Representative that was finalized last January re-surfaced in the news. The State Representative is trying to receive his ownership share of a $1.3 million property which he owned with his ex-wife in South Florida. However, in order for him to receive his $872,000 share, the State Representative will require his ex-wife to sign over the money.
The lawmaker has claimed in court paperwork that he is having a difficult time gaining his ex-wife’s cooperation. His ex-wife is not returning his phone calls. As are result the State Representative requested that the Palm Beach County, Florida family court open up his divorce case again. His goal is to force his ex-wife to cooperate in the equitable distribution of property by signing over his stake in the sale proceeds.
Florida residents who are contemplating going through a divorce must give some thought to equitable distribution of property and what that may look like in their divorce proceedings. The problem is that some property may be difficult to split without first liquidating it — such as jointly owned real estate, including the family home. In some cases, the parties must wait until the property sells before they can receive their share of the property’s value. If an ex-spouse then fails to pay the other party his or her due share as per the divorce agreement, that agreement may be enforced in court.