Protecting Your Fair Share of Property During a Divorce in Florida
The process of going through a divorce can be an extremely stressful experience. This is especially the case when one’s fair share of financial assets, investments, personal property, and real estate is in jeopardy. The stress can affect not just your financial well-being, but also your physical and emotional health. Divorce has been shown to raise rates of mortality, depression, and even substance abuse. For this reason, individuals going through the divorce process will benefit greatly from retaining the services of an experienced attorney skilled in fighting for a fair division of property.
Florida Law Requires an Equitable Distribution of Marital Assets and Liabilities
With regard to divorces in Florida, the law requires an equitable division of all assets and liabilities in connection with the marriage. By “equitable,” the law means fair. By “assets,” the law includes an array of things, including cash, stock, benefits stemming from retirement or pension plans, personal property such as cars and furniture, and real estate such as homes, apartments, and condominiums. By “liabilities,” the court means debts, such as those related to credit cards, mortgages, or car payments, and also those arising from adverse court judgments.
Florida Law Distinguishes Between Marital and Non-Marital Property
Before a proceeding in which a court divides the marital assets and liabilities, it will set aside each spouse’s non-marital assets liabilities. These might include cash or personal property received from an inheritance prior to the marriage, or income from a trust prior to the marriage. Fighting for a classification of all such property as non-marital is a critical part of protecting your fair share of property.
Florida Law Recognizes Some Exceptions Allowing For Unequal Division of Assets and Liabilities
It is important to understand that there are some exceptions under Florida law that will serve as the basis for an unequal distribution of assets and liabilities in the divorce process. Whether equal or unequal, the court will consider a number of factors:
-The contribution of each spouse to the marriage, including not only job-related income, but also contributions to the education and care of the children, as well as homemaker-related services;
-The economic circumstances of each spouse;
-The length of the marriage;
-Whether the marriage resulted in an interruption of the career or education of either spouse;
-Any contribution by one spouse to the career or education of the other spouse; and
-The feasibility of preserving the value of an asset after its division, such as a business or professional practice.
Other factors unique to the marriage at issue will also be considered by the court during the disposition of marital assets and liabilities.
Contact an Experience Orlando Divorce Attorney Today
Are you engaged in a dispute with your current or former spouse regarding the division of property during or following a divorce? If you need help in protecting your fair share of financial assets, investments, personal property, and real estate, be sure to retain the services of Orlando based Steve W. Marsee, P.A. to ensure you are receiving competent and passionate counsel.