Florida law states that all marital assets and liabilities are subject to equitable distribution in divorce. If divorcing spouses are unable to agree on how to divide their marital assets and debt, the court will make the decision. Marital property includes all assets and debts that either spouse acquired during the marriage. The name in which a particular asset is titled is not a determining factor.
We have an intricate understanding of the methods used to value complex holdings such as real estate, retirement accounts and closely held businesses. If necessary, we work with forensic accountants, appraisers and other financial specialists to obtain the full and accurate value of your marital property.
The marital home is typically a large marital asset that must be divided in a divorce. Since a house cannot be physically divided, one solution is to sell the home and divide the proceeds between the parties. Another solution is for one spouse to buy out the other spouse’s interest in the home. Sometimes the court decides it would be equitable to grant one spouse the exclusive use and possession of the home for a period of time without having to buy out the other spouse. This often occurs when it is preferable to allow the children to remain in the family home, along with the parent who has sole or primary parental responsibility.
Going through a divorce or other family law matter may pit you against the person whom you once trusted the most in complex legal situations. If you are facing divorce and need to protect your interests, contact us today for a consultation.
Protecting Your Rights When Dividing Property In Divorce
Property Division in Florida
Florida is an equitable distribution state. This means the court will distribute all marital property fairly, and will start with the assumption it will be divided equally. Marital property includes personal possessions, real property (such as your home), income, and debts acquired during the marriage.
The court may divide property unequally if the facts justify it. The factors the court will consider include the economic circumstances of the spouses, the duration of the marriage, the contributions of each spouse to the home and children’s education, and whether it would be in the children’s best interest for one parent to stay in the marital home.
We have a proven track record of helping couples reach agreement on property division matters through amicable negotiations. Reaching an agreement allows both parties to keep more control over the outcome rather than subject themselves to the uncertainty associated with having the court determine how assets will be divided. That said, we are always prepared and capable of advocating for you in family court if a fair agreement cannot be reached.