Dividing property in divorce

Post: Dividing Property in Divorce

Orlando Divorce Lawyer on Questions About Dividing Assets

Dividing property in divorce

Questions of assets and liabilities in a divorce can be complex and emotionally charged, making it essential to have a clear understanding of the process of dividing property in divorce. Here are answers to some common questions from the experienced and aggressive Orlando divorce attorneys at the Rivas Law Firm. Call 407-644-2466 for a free, confidential consultation.

How is Dividing Property in Divorce Decided?

In Florida, property division during a divorce is based on the principle of equitable distribution. Under this principle, marital assets and debts are divided in a fair and just manner. It is important to note that equitable does not necessarily mean equal. While a 50/50 split is the starting point, the court considers various factors to determine a fair distribution when dividing property in a divorce.

What Factors are Considered in Equitable Distribution?

When deciding on property division, the court takes into account several factors outlined in Florida Statute 61.075. These factors include:

  • Contribution to the marriage: The court considers the contributions made by each spouse to the marriage, including financial and non-financial contributions such as caring for children and managing the household when dividing property in divorce.
  • Economic circumstances: The financial circumstances of each spouse, including income, earning capacity, and financial resources, are taken into consideration when dividing property in divorce to ensure a fair division that aligns with each spouse’s ability to support themselves after the divorce.
  • Duration of the marriage: The length of the marriage plays a role in property division. Generally, longer marriages are more likely to result in an equal division of assets, but other factors also come into play.
  • Interruption of personal careers or educational opportunities: If one spouse has experienced career or educational interruptions due to the marriage, the court may consider this when dividing assets to prevent unfair disadvantages.
  • Contribution to personal career or education: The court recognizes the value of supporting a spouse’s personal career or education and takes into account the contributions made by one spouse to the professional growth of the other.
  • Desirability of retaining certain assets: The court considers the desirability of retaining certain assets, such as a family business or the marital home, especially when dependent children are involved. The well-being of the children is an important factor in property division.

What is Marital Property vs. Non-Marital Property?

In Florida, only marital property is subject to equitable distribution. Marital property includes assets and debts acquired during the course of the marriage, regardless of how they are titled or owned. Non-marital property, also known as separate property, includes assets owned by either spouse before the marriage, as well as assets acquired through gifts or inheritances.

It’s essential to note that the classification of assets as marital or non-marital can sometimes be complex. If separate property has been commingled with marital assets or used for the benefit of the marriage, it may be considered marital property when dividing property in divorce. Consulting with an experienced divorce attorney can help clarify the classification of assets and ensure a fair division.

How Do Divorce Lawyers Help in Property Division?

Divorces involving property division can be complicated and emotionally challenging. Working with a skilled divorce attorney who specializes in family law is crucial to protecting your rights and ensuring a fair division of assets. A divorce attorney will guide you through the legal process, gather relevant financial information, assess the value of assets, and negotiate on your behalf.

Additionally, divorce attorneys often collaborate with expert witnesses, such as forensic accountants or appraisers, to provide objective assessments of complex financial matters. These professionals can provide crucial insights and evidence to support your case, ensuring a fair property division outcome.

At the Rivas Law Firm in Orlando, our dedicated team of divorce attorneys specializes in family law and has a deep understanding of Florida divorce laws. We provide compassionate support, top-notch advocacy, and legal representation to help you achieve the best possible outcome when dividing property in divorce. Contact us at 407-644-2466 for a free consultation, and let us assist you in navigating the equitable distribution process with confidence.

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