Summary:
- Property division during divorce can be a complex process, involving various factors.
- Florida follows the "equitable distribution" model, aiming for a fair, but not necessarily equal, division of assets.
- Distinguishing between marital and non-marital assets is crucial.
- Legal assistance is invaluable in securing a fair outcome in property division.
At Winig Law, I've had the opportunity to provide legal counsel to many individuals going through divorce in West Palm Beach, Florida. A key concern for many clients is understanding how property division works. Let's delve into this critical aspect of family law.
Equitable Distribution: The Framework for Property Division in Florida
Florida follows the model of "equitable distribution" when it comes to dividing assets during a divorce. This means the court strives to divide marital assets fairly, but not necessarily equally. This is a crucial aspect to grasp, and you can read more about it here. The primary statute governing this is Florida Statute 61.075.
Distinguishing Between Marital and Non-Marital Assets
Before any division can occur, the court will distinguish between marital and non-marital assets. Marital assets typically include anything that was acquired during the marriage, regardless of whose name is on the title. Non-marital assets include those owned by either spouse before the marriage, inheritances received by one spouse, and gifts received by one spouse from a third party.
Consider this hypothetical situation. Suppose Mark and Laura, who have been married for ten years, decide to divorce. Laura had received a substantial inheritance from her grandmother during the marriage. Even though the inheritance was received while they were married, it is likely to be considered Laura's non-marital property and would not be subject to division.
Factors Influencing the Division of Property
In dividing marital property, the court considers several factors, including each spouse's economic circumstances, the duration of the marriage, and the contribution of each spouse to the acquisition of marital assets, among others.
The Role of Legal Representation in Property Division
Divorce is emotionally draining, and the complexity of property division can further complicate matters. Having an experienced family law attorney on your side can be invaluable in securing a fair and just outcome.
Frequently Asked Questions
- Can the court divide non-marital property in Florida?
The court typically does not divide the non-marital property. However, there may be exceptions if the non-marital property was treated in a way that intended it to be marital property.
- How is debt divided in a Florida divorce?
Just like assets, debts incurred during the marriage are usually considered marital liabilities and are divided equitably during a divorce.
- What if my spouse tries to hide assets during the divorce?
If you suspect your spouse is hiding assets, it's important to bring this to your attorney's attention immediately. They can use various legal tools to help uncover hidden assets.
- Can a prenuptial agreement influence property division?
Yes, a prenuptial agreement can significantly impact how property is divided in a divorce. Such an agreement might stipulate whom specific assets will go to.
The process of dividing property during a divorce can be complex, but the team at Winig Law is here to help. With extensive knowledge of Florida family law, we are committed to ensuring your interests are protected during this difficult time. Whether you're dealing with high-value assets or are just trying to secure a fair division of property, we can provide the legal support you need.