If facing divorce, there are goals that you have regarding how you would like the division of marital property to be conducted. In Florida, marital property undergoes equitable distribution. This is different than equal distribution, which would be 50/50. Instead, the property is divided in a way that is perceived as fair, as there are many factors that come into play.
As a Boca Raton divorce attorney, Ronald M. Zakarin works hard to protect the interests of his clients. It is also important to ensure the protection of the property as the divorce process moves forward.
Guiding You Through The Property Division Process
The process of the equitable distribution of marital property can be a complicated process. There are a number of factors that are considered. Those factors are:
The length of the marriage
Financial and non-financial contributions of each spouse made during the marriage
Contributions of one spouse to the other spouse’s career or education
The best interests of any minor children
When the divorce case is a high asset divorce case, a business valuation divorce case, a case that involves hidden assets and marital fraud (spouse may be hiding assets to try and protect them), or there is the division of real property (vacation home, investment property, or other real estate) that needs to take place, it is important to have a competent and highly skilled attorney working with you every step of the way.
Competent Property Division Representation
It is important to determine what is classified as marital property and what isn’t. There are some types of property that are considered separate property. They include:
Assets and debts that the couple states is separate property in a valid written agreement, such as a prenuptial or post-nuptial agreement.
Income from a separate piece of property, unless the spouses have comingled the property by mixing it with marital property.
Items purchased or exchanged for separate property.
Separate property can be changed into marital property by a spouse by simply changing the title to it to be jointly owned. This essentially makes that property a gift to the other spouse. However, it can be difficult to convince the court that some joint properties are actually separate properties.
Your Boca Raton family law attorney will review with you what can be considered separate and what is considered joint. It is important to include all details associated with a piece of property so that it can be classified correctly if the other party doesn’t agree that it is separate property.
Contact A Florida Divorce Attorney
The distribution of property may not be equal, but it may be equitable. In other words, the division of property is done according to the assets that each party owns and other factors. This can be a rather challenging process, but it is one that your divorce attorney can help you make easier. To learn about how the Law Offices of Ronald M. Zakarin, P.A. can help you, call 561-338-5297 to schedule a free consultation.