My Ex Is Offering Me Assets in Exchange for Giving Up Alimony in Orlando: Should I Accept?

Spouses in Orlando are perfectly capable of creating their own private agreements regarding property division and alimony. In many situations, these deals are preferable to courtroom litigation, and they may give spouses more control over outcomes. But should you really give up your right to alimony in exchange for certain assets? This may be a question worth having with an experienced alimony attorney in Orlando.

Some Assets Might Be Better Than Others

First, you should recognize that not all assets are the same. This might seem fairly obvious, but it’s not just the market value you should be wary of. You should also consider whether the asset will appreciate or depreciate in value in the future. A sports car might seem like an amazing asset to walk away with instead of alimony. But a vehicle almost always depreciates in value over the years.

In contrast, stocks and similar assets appreciate in value. If the used sports car has a fair market value (FMV) of $50,000, why not accept a transfer of $50,000 from your ex’s stock portfolio instead? In a few years time, your stocks could conceivably double in value. At that point, you could purchase a different used sports car and still have $50,000 left over.

Some appreciating assets may be difficult to spot. They may even seem like junk at first glance. For example, an old baseball card may be worth thousands of dollars to the right buyer. Jewelry could skyrocket in value due to the rising price of gold. As long as you make an informed decision, accepting assets in lieu of alimony could be an excellent decision.

Florida Alimony Has Become Less Rewarding

Of course, you need to accurately calculate your potential alimony in order to make an informed decision. When doing so, you should remember that Florida has recently changed its alimony laws to a considerable degree. You are now much more likely to walk away with just a few years of alimony or nothing at all. Be realistic about how much your alimony is worth and ask an attorney if you’re not sure what you are entitled to.

Sometimes, alimony is structured in a way that leaves you no other choice but to spend the funds on education. This is called “rehabilitative alimony,” and it has become exceedingly common in Florida. One might argue that education is the best possible investment you can make with your alimony, especially if you’re relatively young. If you stand to receive rehabilitative alimony, you might want to accept this offer and use this opportunity to become financially independent as soon as possible.

Can an Alimony Attorney in Orlando Help Me?

If your spouse is suggesting that you accept assets in exchange for forfeiting alimony, you might want to hear them out. Due to the recent changes to alimony in Florida, assets may be much more preferable to reduced spousal support. That being said, it always makes sense to seek legal guidance in this scenario. Contact Steve Marsee, P.A. today at 407-521-7171 for guidance from an experienced alimony attorney in Orlando.

Source:

 leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0000-0099/0061/Sections/0061.08.html