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Myths that could cost you big in your high-asset divorce

Divorce proceedings are always stressful. When a high-asset couple gets divorced, tensions can run even higher.

There are several common misconceptions about divorce proceedings and the division of assets in Florida. To avoid a financial fiasco, familiarize yourself with these divorce myths and the truth behind them.

Myth: Spending more means more alimony

Alimony helps a financially dependent spouse maintain a certain standard of living after separation. While there is a grain of truth to the idea that if you maintained a higher standard of living you may receive more alimony, increasing spending before the divorce to achieve this is not advisable. If the court suspects you of maliciously using marital funds within two years of filing for divorce, you might receive less financial support.

Myth: Couples divide assets evenly

There is a number of reasons courts may not split assets equally. First, Florida law focuses on equitable division instead of equal division. This means that courts can divide assets unevenly if the result is fair for both parties. Secondly, if one of the parties is guilty of extramarital affairs or gambling away marital funds, a judge may consider this information when awarding assets. Lastly, attempting to hide assets will not only impact property division but could lead to legal charges.

Divorces can be grim affairs with lengthy, complex proceedings. While patience is essential for getting through the process, due diligence can help you avoid falling prey to malicious myths such as these and wasting unnecessary time and money in court.