Know What Counts as Marital Property
The first step in protecting your assets is understanding what the court will divide between you and your spouse. In general, marital property includes anything acquired during the marriage by either spouse. This can include:
- Income
- Real estate
- Retirement accounts
- Business interests
- Personal property like vehicles, art, or jewelry
Separate property—which is not usually divided—includes assets you owned before marriage, inheritances, and gifts given to you alone. However, separate property can lose its protection if it’s mixed with marital funds or used for joint purposes. Keeping clear records helps avoid confusion.
Keep Detailed Financial Records
Documentation is key. Maintain copies of account statements, property deeds, tax returns, and loan documents to ensure accurate records. If you brought property into the marriage, locate records that show when and how it was acquired. This evidence may help protect it as separate property.
Also, track recent spending. If your spouse is moving or hiding assets, those records may become critical in court.
Avoid Making Big Financial Moves
During a divorce, it’s tempting to move money, sell property, or make large purchases. Doing this without court approval can backfire. The court may view it as an attempt to hide assets or gain an unfair advantage, which could hurt your credibility.
Avoid withdrawing funds from joint accounts or transferring property unless your attorney advises it. Courts take asset manipulation seriously, especially during contested divorces.
Monitor Joint Accounts
If you still share joint accounts with your spouse, monitor them closely. In some cases, one spouse may empty a bank account or run up debt out of spite. If you’re concerned, you can ask the court for temporary orders to freeze certain assets or limit access until the divorce is finalized.
However, don’t lock your spouse out of accounts unilaterally. That move could be used against you. Legal protection is more effective than retaliation.
Consider the Long-Term Value of Assets
Not all assets are equal. A house may look valuable on paper, but it comes with additional expenses such as taxes, maintenance, and mortgage costs. A retirement account may have penalties for early withdrawal. Work with your attorney to understand the real, after-tax value of each asset before agreeing to any division.
You’ll also want to think about your future financial stability—not just what seems fair right now.
Get a Professional Valuation
For complex assets, such as businesses, investments, or valuable collections, it’s worth obtaining a professional valuation. This ensures that both sides have an accurate understanding of the asset’s worth. A neutral expert can help avoid disputes or claims that something is being over- or undervalued.
Protect Your Digital and Personal Information
Change passwords to financial accounts, email, and cloud storage. Ensure you have secure access to your personal documents, especially if you share a computer or phone. Back up your files regularly and consider using a new device to maintain your privacy.
While it may feel awkward, these steps can prevent unauthorized access or tampering during a difficult time.
Work with an Experienced Attorney
Attempting to protect your assets without legal guidance is a risky endeavor. Florida’s equitable distribution laws leave room for interpretation, and the details of your case will matter. An experienced attorney can help you document your assets, avoid costly mistakes, and negotiate a fair outcome.
The Law Offices of Robert M. Geller understands the financial stakes in divorce. Contact us to learn how they can help you protect what matters most.
