The Importance of Keeping Work-Related Property During Divorce in Orlando

Although losing property is always something worth avoiding, losing things you need for your work can be particularly challenging. Without these assets, you may find it difficult to earn a living – and the financial effects of divorce may be more burdensome. How exactly do you keep hold of the property you need for your career? Could an Orlando divorce lawyer help you achieve this goal?

Equitable Distribution Could Help You Keep What You Need for Work

 Florida follows a system of “equitable distribution,” which means that the court will consider numerous factors when dividing your marital property. In this context, your marital property is everything you acquired during marriage. This includes properties, items, tools, and vehicles you need for your work.

The family court does not distinguish between different types of marital property. In other words, your couch could be divided in exactly the same way as the tools you need to carry out your work as a carpenter, for example.

That said, the court may consider whether a spouse needs certain marital property to continue with their career. Although this is not explicitly mentioned by Florida’s equitable distribution statute, the court is authorized to consider “any other factors necessary to do equity and justice between the parties.” This might include your need for the property to complete your work.

A vehicle is perhaps the most obvious example of this. While remote work is on the rise across the United States, most people need a reliable vehicle to get to their workplace. If your ex is not planning to work or is employed in a remote position, a judge might be more inclined to let you keep the family car.

Note that this does not apply to rental properties and other family businesses. If your “work” consists of collecting rent from your various properties, you should expect to split the properties with your ex (assuming you acquired these properties during marriage). You might also have to divide the income you earn from these business activities if you continue to co-own the enterprise after divorce.

Consider Negotiating for Your Work-Related Assets 

If you need certain assets to carry out your work after divorce, consider negotiating for them during mediation or collaborative law. These alternative dispute resolution (ADR) strategies allow you to avoid court, and they give you more control over what happens to important assets. For example, you could offer to “trade” an asset in exchange for 100% ownership of your work tools.

Contact an Orlando Divorce Lawyer Today 

An Orlando divorce lawyer may be able to help you pursue important financial goals as you dissolve your marriage. Vehicles and other assets may be extremely important if you need to recover financially after your divorce. To learn more about maintaining your career and succeeding during property division, contact Steve Marsee, P.A. today.

Sources: 

floridabar.org/the-florida-bar-journal/is-an-unequal-equitable-distribution-equitable/#:~:text=Retaining%20the%20Marital%20Home%20%E2%80%94%20The,parties%20to%20maintain%20the%20residence

leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0000-0099/0061/Sections/0061.075.html