Equitable Distribution Of Assets In A Florida Divorce
When a married couple decides to divorce, dividing their property and debts becomes a critical issue. Florida is an equitable distribution state. This means the court does not simply divide everything equally between spouses. Instead, it considers several factors that help determine a fair division of marital assets and debts.
At Peak Legal, we help divide your assets fairly. This is done through a mutually agreed-upon settlement or by pursuing a court-ordered distribution. We work to get you a proper share of marital property and to split up debts from the marriage in an equitable way based on your specific situation.
How Does Florida Divide Marital Property And Debts?
Florida courts first identify which assets and debts are marital or nonmarital property. Marital property includes most things the spouses acquired during the marriage. Nonmarital property is anything either spouse owned before the marriage. Since nonmarital property belonged to the spouse before the marriage, courts do not divide it in divorce; only marital property is up for division.
When dividing marital assets, Florida courts consider the following:
- What each spouse contributed to the marriage
- The financial situation of both parties
- Length of the marriage
- If either spouse put their career or education on hold to help the other
- Whether the family home stays with the parent of minor children
Our attorneys thoroughly identify, evaluate and pursue an appropriate division of complex assets like businesses, professional practices, investment portfolios and more. We also fairly divide debts between spouses that were incurred during the marriage. These debts include mortgages, loans, credit card balances and other liabilities.
Protect Your Fair Share – Set Up A Call Today
Florida divorces and asset divisions are often complicated. They may involve extensive tracing and valuation of complex marital property. However, if there is a valid prenuptial agreement, it can override equitable distribution laws and dictate asset division. You need skilled legal representation to fully protect your interests and assets. Let our experienced divorce lawyers guide you through the divorce process.
You can contact our Miami office by calling 305-697-1375 or answering our online form. A team member will reach out shortly.