How Is Property Divided In Divorce?
Property division is one of the most prominent issues in divorce. It has both practical and legal implications. From a practical standpoint, the outcome of property division can affect your finances and standard of living for a long time to come. From a legal standpoint, deciding who gets what requires sifting through all of your assets. This may be a complex undertaking. Assets and debts must all be identified and assigned a realistic dollar value.
Florida courts follow “equitable distribution” principles when dividing property. This simply means that the court will take into account all the circumstances to determine a fair and just allocation of property. Relevant considerations include:
- How long you were married
- How each spouse contributed to the marriage
- Each spouse’s career and earning capacity
Some types of property may be deemed to belong to one spouse only. This nonmarital property is generally not subject to division. As a result, disputes sometimes arise regarding not only the valuation of assets, but also whether they are marital or nonmarital.
Don’t Struggle Through This Process Alone
It’s difficult enough to navigate the emotional upheaval and unknowns of divorce. You don’t need to tackle the legal complexities — including division of assets — alone.
At Winter Spires & Associates, P.A., we’re here to help. We understand the challenges of divorce and separation. Our goal is to lighten your burden by guiding you through these hurdles. With offices in Destin and Marianna, Florida, we work with everyday people from all walks of life who are going through the difficult process of divorce.
The firm’s founder, attorney Winter Spires, is a skilled adviser, negotiator and litigator. She brings nearly a decade of legal experience to the table. Together with the firm’s staff, she is passionate about going the extra mile and treating every client like family.