Understanding Florida’s Marital Property Division Laws
When couples go through divorce, one of the most important questions to resolve is dividing their property. At Michael E. Golub, P.A., we have extensive experience helping families divide their assets and debts throughout central Florida.
If conflicts arise during the asset division process, attorney Michael E. Golub is a skilled mediator. He is equipped to find a resolution that works for both parties.
What Property Is Marital Property?
Property that a couple owns may be nonmarital or marital. Nonmarital property includes assets and liabilities that a spouse acquires outside of the marriage. Marital property applies to those assets and liabilities acquired during the course of the marriage.
Determining which items are included in divorce proceedings varies from case to case. The following are typically marital property:
- Assets and liabilities acquired during the marriage, either by one spouse or jointly
- The increase in value of nonmarital assets
- Vested and nonvested benefits
How Do Courts Divide Marital Property?
Courts divide marital assets and liabilities equitably. It is important to note that an equitable distribution does not necessary mean a 50-50 split. There are circumstances where the court may determine that an unequal distribution is appropriate.
Justifications that warrant an unequal distribution of marital assets include but are not limited to:
- Contributions each spouse makes to the marriage
- Economic circumstances of both parties
- The duration of the marriage
- The desirability of retaining a particular asset, such as business interests or real estate
Speaking to a skilled divorce law attorney who will defend your interests throughout the divorce process can help you determine what a proper division of assets would be.
Skillfully Resolving Property Division Disputes
If you are considering filing for divorce or are in the middle of divorce proceedings, it is important to speak with a lawyer. From our Tavares office, we are prepared to provide consultation. Send us an email or call us at (352) 290-2877 to schedule a free 30-minute initial appointment