Advocating For Fair Property Division In Florida Divorces
One of the most difficult aspects of many divorces is the division of marital assets and debts. Florida courts generally divide the marital estate in a fair and equitable manner. However, that does not necessarily mean an even split. Several factors can impact how property is divided, and having an experienced property division lawyer can help to ensure that you receive a favorable property settlement.
At the Melbourne office of Shawn Reid, we have experience handling all types of property division matters, including the division of complex high-asset estates. From determining the current and future value of a particular asset to advising clients on the potential tax implications of obtaining certain property, our attorneys are committed to a positive outcome that puts you in the most favorable position possible moving forward.
We Handle A Broad Range Of Important Issues
Depending on your circumstances, several specialized issues may need to be addressed within the property division:
- If your spouse owns a business, we can help you determine an accurate value and work to ensure that you receive an appropriate share.
- If one spouse has substantial retirement savings, then the distribution of retirement accounts and pensions may be an issue.
Drawing on our substantial background in complex property division, we are able to advise you on key issues that other divorce attorneys might overlook. We are also unafraid to bring a case to court if the situation warrants.
Common Challenges In Property Division
Dividing property in a divorce often comes with legal and financial complexities, including:
● Marital vs. separate property: Determining what qualifies as marital property can be complicated, especially if assets were acquired before the marriage or inherited. Commingling funds can blur these distinctions, leading to disputes.
● Valuing assets: Real estate, retirement accounts and businesses can be difficult to assess. Fluctuations in market value and the need for professional appraisals can further complicate negotiations.
● Debt allocation: Just as assets must be divided, so must debts. Even if a debt is in one spouse’s name, it may still be considered marital debt, requiring fair allocation.
● Dividing real estate: Deciding who keeps the family home can be contentious. Factors like mortgage responsibility, sentimental attachment and financial feasibility influence this decision.
● Hidden or dissipated assets: If one spouse attempts to conceal or waste assets before the divorce, it can lead to legal disputes and financial investigations.
Working with our experienced Florida attorney can help you handle the property division process effectively.
How Florida Law Affects Property Division
Florida follows equitable distribution laws. This means marital assets and debts are divided fairly but not necessarily equally. The court considers various factors to determine the most reasonable distribution for both spouses. Unlike community property states, where assets are split 50/50, Florida’s approach allows for flexibility based on individual circumstances.
Marital property includes assets and debts acquired during the marriage, regardless of which spouse’s name is on the title. However, separate property, such as assets owned before the marriage or inherited individually, remains with the original owner unless it was mixed with marital assets.
Since Florida is a no-fault divorce state, misconduct like infidelity does not usually impact property division. However, if a spouse deliberately wasted or hid assets, the court may consider this when determining the final distribution of marital property.
What Factors Are Considered In Property Division?
When deciding how to divide assets, Florida courts assess several factors, including:
● The length of the marriage: Longer marriages may result in a more balanced split of assets.
● Each spouse’s financial situation: Income, earning capacity and financial needs.
● Contributions to the marriage: It includes homemaking, child-rearing and supporting the other spouse’s career.
● Child custody arrangements: The parent with primary custody may receive the family home to provide stability for the children.
We can help navigate these challenges and protect your interests during property division.
Secure Your Fair Share: Contact Us Today
With over 25 years of experience, attorney Shawn Reid brings a wealth of courtroom expertise to your property division case. As a former prosecutor and skilled litigator, attorney Shawn Reid provides dedicated, personal attention to every client. Our firm is committed to aggressively protecting your interests, whether through negotiation or in court. We understand the complicated nature of property division cases and work tirelessly to achieve your legal goals.
We offer free consultations for all new clients. Complete our online contact form, or call us at 321-426-1840.