In high-net-worth divorce cases, asset division can become a complex landscape to navigate. Items of high financial and sentimental value can present significant challenges when it comes to determining rightful ownership post-divorce. Perhaps one of the most symbolic representations of wealth and leisure in a marriage is a boat. So, when marital ties break, who is entitled to keep expensive property like this?

When engaging in high-net-worth divorces in Florida, law firms like RTRLAW work tirelessly to ensure equitable distribution of assets and liabilities. This often encompasses a wide variety of tangible and intangible items, including boats.

According to Florida’s equitable distribution laws, the court begins with the idea that the “distribution should be equal, unless there is a justification for an unequal distribution based on all relevant factors.” . The court considers relevant factors including the financial circumstances of each party, the duration of the marriage, and contributions by the spouses to the assets.

How to Determine the Value of Your Boat Accurately

Determining the exact value of the boat is the cornerstone in deciding who gets to keep it. It is not just about the market value of the boat; consideration should also be given to the intangible value it holds for each partner. The experience and knowledge of RTRLAW in working with expert forensic accountants and appraisers ensures a meticulous evaluation of the asset, taking into account various aspects such as the boat’s condition, its market value, and any financial liabilities attached to it.

In many instances, one party may have contributed more toward the purchase or the upkeep of the boat. These contributions are not just financial but could be in terms of time and effort involved in maintaining the asset. High-net-worth lawyers like those at RTRLAW can help their client document not only the assets but also their contributions to the upkeep of those assets, assisting the court as they determine who gets to retain the boat post-divorce.

The division of high-value assets such as boats can also lead to significant tax implications. Being cognizant of the potential tax ramifications is essential to protecting your financial interests and RTRLAW works with qualified professionals who can assist you in determining how the tax ramifications may impact you.

Seeking Top Legal Advice with RTRLAW

The question of “who gets the boat?” is more than just a query about asset division. It delves deep into the realms of financial security, emotional attachment, and rightful entitlement. RTRLAW’s seasoned family law attorneys are well-versed in navigating the complex waters of high-net-worth divorces, offering professional advice and empathetic guidance.

The process of determining who keeps the boat in a divorce can be quite complex. It demands a comprehensive understanding of the nuances in Florida law, a meticulous valuation process, and an empathetic understanding of the sentimental values attached to certain property and assets. Contact us for a no-obligation case review today.

In the turbulent times of a divorce, especially one involving substantial assets, having a trusted partner like RTRLAW can be reassuring. With a safe and secure, no-obligation, confidential case review and dedicated, experienced divorce attorneys at the ready, RTRLAW can assist you through a high-net-worth divorce, ensuring a fair, just, and equitable division of assets, including determining who gets to sail away into the next stage of their life.

For more information, call or text RTRLAW today toll free at 1-833-HIRE-RTR (1833-447-3787).