What Divorce Means For Your Marital Property And Assets
Marriage is a joining of two households, two incomes, two different sets of liabilities and sometimes even two bank accounts. But what happens to these joint assets and liabilities should a couple decide to end a marriage? Although it is commonly believed that everything is to be divided in half after a divorce, this is not entirely true. The state of Florida actually follows an equitable distribution law. This means that your marital assets and properties are actually divided fairly and not necessarily equally.
At the Diaz Family Law Firm, we have helped numerous individuals navigate throughout the Orlando-area solve complex asset division disputes. If you are going through a difficult divorce and there is any indication that your spouse has taken efforts to skew the complete asset picture (for example, hiding funds or minimizing business income), consult our lawyer.
How The Court Decides Who Gets What
In Florida, like in most states, any assets or properties you owned prior to your marriage will stay with you. However, if you and your spouse cannot agree on the division of assets obtained after you married, then the court will step in. In this case, a judge will review any assets or properties gained during your marriage to determine who it will ultimately go to.
The judge will take the following factors into consideration before making his or her judgment:
- How long your marriage lasted
- Whether domestic abuse occurred during your marriage
- The contribution of each spouse to the marriage
- Each spouse’s contribution to each other
- Contribution of each spouse to the household income
- Yours and your spouse’s economic circumstances
- The individual debts or liabilities of each spouse
- Yours or your spouse’s ability to provide for yourselves
- If one spouse had to quit a job or school to further the other
While it is best to negotiate and settle any disputes over your property outside of court, we know that this is not always possible. To that end, our attorney is ready to advocate on your behalf to ensure fair distribution of your assets.
We Make Sure That The Results Are Fair
The division of marital assets can quickly become contentious. Enlisting the services of a knowledgeable attorney may be the best way to efficiently and effectively get positive results.
We will fight to ensure that you receive a fair property settlement and move past divorce on solid financial footing. To discuss your case and how we can assist you, call our Mount Dora office at 352-729-3267. You may also reach us via our online contact form to schedule a free initial consultation today.