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Extra compensation may be worth protecting during divorce

Many people enjoy bonuses and other perks as part of their employment. They undoubtedly appreciate the benefits they receive in return for their hard work, but these benefits could have downsides later. For instance, if Florida residents go through divorce, this extra compensation could affect the outcomes.

If a person receives perks as part of the job, it is possible for the value of those perks to play a role in property division or even spouse support calculations. For example, if a person receives a company car as a perk of the job and can use it for personal affairs, it could be a factor in property division. The car itself cannot be divided, but the value of the car could lead to the other party having a stronger claim to other assets or a stronger argument for more spousal support.

Additionally, it is possible for a spouse to receive a portion of any earned commissions. In some cases, a person may be close to closing a deal, but because he or she knows that the commission received could be divided in divorce proceedings, that person may hold off on completing the deal until after the divorce petition has been filed. If a person receives the commission after the divorce has started, it may not be considered marital property.

Divorce takes a lot of work and, in some cases, strategy. As a result, it is important that Florida residents understand their current and future financial circumstances as best as possible. When it comes to protecting assets during the marriage dissolution process, it may be best to discuss protective measures with family law attorneys.

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