Frequently Asked Questions About Property Division In A Florida Divorce
Division of financial assets is one of the most important issues in virtually every divorce. If not handled properly, you could be left with far fewer financial resources than you need to keep yourself and your children comfortable.
At The Day Law Office, we have been resolving complex property division and other divorce issues for clients in Florida since 2000. Attorneys Sandra Day and David Day know how to protect your financial rights while working toward a fair and enforceable settlement.
Read on for answers to some of the most frequently asked questions about dividing assets in a Florida divorce.
Do We Have To Split Up Everything We Own?
In a divorce, every piece of marital property is subject to division. In general, marital property includes assets, which you and your spouse acquired during your marriage. It also includes things you owned before the marriage, like a bank account, that later became co-mingled with your spouse’s assets. Still, it is possible to hold some assets separate from marital property. Your spouse may try to claim that certain valuables belong to them only or things that you have sole ownership over are marital property.
Do We Have To Divide Everything 50/50?
Not in Florida, which is an equitable property state. You simply have to agree to divide the marital property “equitably” or in a way that is fair to both sides. In practice, one spouse may agree to give the larger share of the property to the other spouse in exchange for some benefit, such as keeping the family home. As your lawyers, we will work with you to develop a personalized strategy for property division.
Who Gets The House?
If you and your spouse cannot agree on who will retain possession of the house, the court will decide for you. Although a court will not order a couple to split a marital home, it may award the home to one spouse in exchange for that spouse buying out the other’s share of the home, order that the home be sold and the proceeds split, or award one spouse the right to temporarily live in the marital home. Courts will also consider how any dependent children will be affected by the disposition of the home.
How Do I Avoid A Drawn-Out Fight Over Our Assets?
Your best chance at a peaceful and efficient divorce is to hire an experienced family law firm. We have handled thousands of divorce cases and do everything possible to avoid trial, though we never sacrifice your best interests just to make a quick deal. We will minimize the worry and uncertainty usually associated with divorce.
Contact Us To Learn More
To learn more about property division and divorce, contact The Day Law Office by calling our Spring Hill office at 352-200-2382 or 352-200-2382 to schedule an appointment with one of our lawyers. You can also reach us online.