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4 Steps to Dividing Marital Assets in Florida

Tue, Dec 29, 2020 at 10:05AM

4 Steps to Dividing Marital Assets in Florida

12/29/2020

An equitable divorce is possible. Use this guidance to learn how you can protect yourself, your property, and your loved ones.

Divorce is a subject that many people aren’t comfortable freely discussing. There are so many ideas and emotions surrounding the topic that even beginning a conversation can create a stressful and overwhelming situation.

Still, it’s important to know the details of your divorce, including how to divide marital assets. Gleaning this knowledge could have a lasting, positive impact on you and your loved ones. Read on to learn more, and how you can partner with a dynamic divorce attorney in Daytona Beach who can help you navigate through this difficult time.

1) Understand the Details

In Florida, the law requires equitable distribution of marital property between spouses. Judges consider many distribution factors. That includes the length of marriage, individual contributions, economic disparities, liabilities, and more.

For some assets, equitable division will be all but impossible. For instance, no one can effectively split a family home in two. In this case, judges will often award a residence to one spouse in exchange for a cash buyout by the other spouse. In the alternative, the courts can order the sale of the real property, under what is referred to as a partition claim within the dissolution of marriage action. 

Rather than try to approach the process yourself, it’s best to team with an outstanding Daytona Beach divorce attorney with a proven track record of success. This way, you get the peace of mind that you’re getting professional advocacy and experience.

2) Know Your Rights

Some people think that in a divorce, all assets are distributed 50/50. While such is the starting point for distribution, and the presumption under Florida law, it is not always the case. Others believe that they could be financially devastated by a divorce.  Instead of listening to hearsay or jumping to conclusions, it’s wise to consult with Volusia County attorneys who are well versed in this type of legal concentration.

Depending on the specifics of your divorce, you may be entitled to compensation from scenarios in which you weren’t even involved. For example, if your spouse paid funds to an outside vendor for services related to your marriage, you could be entitled to recovery of all or part of that money.

3) Consider All Aspects

Along with these considerations, there are other questions and ideas that will come up before and during your divorce. For instance, who will keep the pets?

Credit cards and other marital debts are also subject to equitable distribution. Some student loans can also fall under this category. Keep in mind that experienced Ormond Beach attorneys are on hand to help you understand the fine details of this and other legal scenarios.

4) Secure a Reliable Advocate

In fact, your attorney can provide insight and assistance that you hadn’t previously considered, or weren’t aware that you needed. The key is to partner with a reliable advocate with a proven track record, and who will keep your best interests in mind.

For 36 years, Rice Law has built a solid reputation while practicing many aspects of law.  Contact us today to learn more about equitable distribution of marital assets in Florida, and to get the answers to all of your legal questions.


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