On behalf of The Law Office of Gustavo E. Frances, P.A.
If you are a working mother on the brink of filing papers for divorce or are in the middle of getting divorced, you have come to the right place. It is true that Google knows everything, but it may not be able to answer all the burning questions a working woman and mother have about divorce.
But do not lose your sleep over it just yet. We invited our Fort Lauderdale property division attorney from the Law Office of Gustavo E. Frances, P.A., to spell out everything you need to know about getting divorced in Florida as a working mom.
Will you have to sell or split YOUR bank account and car?
Let’s imagine that both you and your husband have jobs. You have a bank account owned and registered in your own name. Also, you have a car registered in your own name. What happens to these assets in a divorce? Will you have to sell or split these items if you and your husband decide to go separate ways?
The answer is not exactly what you are looking for: It depends. Whether or not you will be required to sell or split these assets depends on a variety of factors. To know the answer, ask yourself these questions first:
- Did you own these assets before getting married or were they acquired during the marriage?
- Did you purchase these items of property during the marriage but with separate funds (funds you did not earn by your own work)?
- Were you the one who purchased these assets during the marriage?
- Were these items of property purchased during the marriage with marital funds (funds you and your husband earned collectively)?
If the court treats your bank account and car as marital assets in the divorce, the judge can either (1) order to sell the car to divide the sale proceeds between you and your spouse, or (2) let you keep these assets and then compensate your husband for his “share” of the assets by giving him a larger chunk of share of other marital assets.
“More often than not, courts in Florida prefer the second option, because it allows them to balance the overall division of assets and property,” explains our experienced divorce lawyer in Fort Lauderdale.
Will moving out before filing for divorce hurt my case?
Many working moms also ask our divorce attorneys here at the Law Office of Gustavo E. Frances, P.A., whether or not moving out of the marital house before filing for divorce can negatively affect their divorce case. It makes sense why you are concerned about this, as no spouse would want to lose their interest in the marital home or other marital assets only because they made an avoidable and unnecessary mistake.
In short, moving out of the marital house before filing for divorce could negatively impact your divorce case in Fort Lauderdale and elsewhere in Florida. However, do move out by all means if not doing so puts your or your children’s safety, sanity, and/or life in danger.
What happens to our jointly owned business in a divorce?
We hear stories of wives and their husbands starting businesses together and then getting into an endless and frustrating dispute about whose business it really is, all the time. Working women often ask our divorce lawyers what their husband’s interest in their business would be if they started a small or medium-sized business together, set it up in both of their names, but the wife did all (or the majority of) the work.
Are you at risk of losing the business you run on your own (or almost on your own) just because you want to get divorced? Again, it depends. Our Fort Lauderdale property division attorney explains that even if you do the lion’s share of the work at the company you and your husband set up together during your marriage, there is a huge risk of losing half or even more than half of the value of the business during the divorce.
Here is the thing: some judges do take into consideration each of the spouse’s contribution in the business in terms of money and labor. Other judges, meanwhile, treat a business that was jointly set up by a husband and wife as their marital asset and divide it in half.
By being legally represented, you get to ensure that your divorce is handled properly and fairly. Get a free consultation from our lawyers at the Law Office of Gustavo E. Frances, P.A. Call at 954-533-2756 or fill out this contact form today.