Asset Division in a Florida Divorce
Property Division in Divorce - Equitable Distribution |
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& Debt
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More info:
Marital Home
Only One Person's Name on the House Title?
Divorce and the Sale of the Marital Home
Topics for Business Owners
Other Equitable Distribution Topics
In a Florida divorce, property division begins at 50/50. Division of debts begins at 50/50. But property division is also called equitable division in Florida. The key is the word "equitable." This means the court is allowed to decide these issues in a way that brings fairness to the outcome. Sometimes this means the split will not be 50/50. A good example is in alimony situations. If one spouse does not have income earning capability, the court may compensate by awarding a larger proportion of assets. Click on each category above to learn more how the court treats certain types of assets.
Common Property Distribution questions and answers
Everything is in one persons name. Does that mean it is not marital property? Probably not. Titles, deeds, or possession does not necessarily determine whether property is marital or non-marital. The Court can change ownership details with one stroke of the pen. What really matters is fairness and common sense.
Everything is in the name of my spouse's parent. What now? These are difficult situations. But if you can present adequate proof, the Court can protect you and redistribute property that is really marital.
Can property division be changed after the divorce is granted? Almost never. Final judgments are exactly that in property division - Final.
Selling the house in a divorce - If neither spouse can afford the marital home, or no one wants the home, it would be helpful to sell the house while the divorce is in progress. You can either agree on division of proceeds or the proceeds can be held in an escrow account pending a final court decision.
401K and Divorce: There are special rules governing 401K and divorce - how the accounts are divided and who gets what percentage. Click on the link in the above map to learn more.
Bankruptcy before Divorce: There is nothing that prevents either spouse from filing for bankruptcy before divorce. But keep in mind, the courts can assign debt back to you. Also, the bankruptcy code prevents the avoidance of obligations owed your spouse resulting from a divorce.
Divorce can be the single most important event in your life. Make sure you gather lots of information so you can make informed decisions. Many people can benefit from the advice of a good, honest, loyal divorce attorney. The Divorce Center can provide a divorce attorney that can help you protect yourself. A lawyer is not an expense in a divorce case - they are an investment. We help clients in Hernando County, Pasco County, Pinellas County, and Hillsborough County. Our service area includes Tampa, Clearwater, Largo, New Port Richey, Brooksville, Dade City, and the New Tampa area. CONTACT US NOW or call 888-469-3486