Law Office of Philip J. Schipani
Talk to an Experienced Family Law Attorney Today
941-549-8981

3 considerations for protecting real estate during your divorce

If you know your divorce is inevitable, you are probably already feeling unpleasant. Along with all the emotional difficulties come financial pains. Marital separation can have a huge impact on your real estate assets. If you are worrying about how your divorce will affect your home or other property, you should learn some ways to mitigate the damage.

There are certain steps you can take to keep your real estate relatively intact. Read below to learn how you can protect your assets. 

1. Find out the value

In your divorce, the first thing you need to do is to determine how much your property is worth. You may want to get a realtor or other appraisal expert to conduct a valuation of your real estate. The goal is to find out the true value of your property, which is equity. 

2. Determine what equity is marital and nonmarital

There may be certain portions of equity that are nonmarital. Florida state law does not require you to divide nonmarital property. Your real estate may fall under the nonmarital category if you acquired it before marriage, excluded it in a prenuptial agreement or received it as an inheritance. Real estate assets are often initially considered as marital property unless you are able to prove otherwise. 

3. Think twice about fighting for real estate

Sometimes it is not worth it to give up everything for a piece of property. You may overvalue your assets and have an unrealistic idea of how much it is worth. According to CNBC, you should avoid getting sentimental about your assets during your divorce. If you overvalue an asset, your settlement may be uneven. This is why the first step is so important. Think about the fair market value of your property instead of your emotional attachment. 

Protecting yourself and your property during divorce may be challenging, but following these three steps can make it easier. 

No Comments

Leave a comment
Comment Information
Email Us For A Response

Contact The Firm

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Avvo Clients Choice | 2012 | Family Avvo Rating 10.0 | Superb | Top Attorney Family The American Society of Legal Advocates | 2014 Top 40 Under 40 The Florida Bar Certified | Marital and Family Law Super Lawyers | Philip J. Schipani | 2015-2017

Law Office of Philip J. Schipani
1605 Main Street, Suite 608
Sarasota, FL 34236

Phone: 941-366-8333
Fax: 941-366-7331
Sarasota Law Office Map