Florida residents who are seeking a divorce may wish to know more about how retirement accounts are handled during the split. If the account is considered marital property, it could end up being evenly split between the couple.
It is not uncommon for couples facing complex asset division to enter into informal long-term separations instead of pursuing lengthy, often contentious divorce negotiations. For couples with adequate financial resources, living apart might seem like the least unpleasant solution, especially if both parties have a satisfactory standard of living. Delaying a formal agreement, however, can lead to disaster for unprotected spouses.
News seems to spread fast along the Gulf Coast – especially when a politician is involved. In Pasco County, for example, a county commissioner is embroiled in a messy divorce complete with criminal domestic battery charges, although those charges were later dropped. According to an article in The Tampa Tribune, this divorce has the potential to get costly. The commissioner's net worth was listed as $4.4 million in 2012, and it likely that the commissioner and his wife also have significant assets, including real estate, business assets, pensions, and property interests.