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Protecting Your Marital Property Rights

If you are getting divorced, marital property and debts must be divided. Some couples are able to reach a settlement on their own terms.

However, if a court is involved, Florida law states that a couple’s assets will be divided based on the principle of “equitable distribution.” Utilizing various factors based on the couple’s circumstances, a court will divide assets based on what is fair, not necessarily equal or 50/50.

This principle will also be applied to a couple’s debt, including mortgages, auto loans, credit card debts and more.

Equitable Division And Marital Property

Before a court divides assets, they must first distinguish a couple’s “marital property” from “separate property.” Only martial property is divided, while separate property belongs solely to one or the other. However, depending on the facts, premarital and nonmarital assets may be subject to claims by a spouse.

Likewise, “marital debt” is distinguished from individual debt. Generally, if debt was taken on tduring the marriage, it is marital debt owed by both parties. Claims and dissipation of marital assets may be made, depending on the facts. You could even be liable to the lender for the entire debt if your ex does not pay their share.

If you are now separated make sure common accounts are not being abused. We can advise you of steps to take to protect yourself.

Questions About Property Division In Miami

Property division during a divorce can be complex. Florida law governs how marital assets are divided, and understanding your rights and obligations is crucial. Here are the common questions our property division lawyers hear:

Can I keep my nonmarital property that has increased in value during the marriage?

In Florida, nonmarital assets generally remain with their original owner in a divorce. However, if the value of the nonmarital property has increased during the marriage due to the efforts or contributions of both spouses, the increase may be considered marital property subject to division. Working with an experienced property division attorney can help you better understand nonproperty division dynamics.

Will the length of our marriage affect how our property is divided?

Shorter marriages generally involve fewer commingled assets, which can make it easier for a couple to separate their property in a divorce. In longer marriages, the court may be more inclined to award a dependent spouse a greater share of the marital estate. An asset division lawyer can help you understand how this may factor into your divorce.

How does the contribution to the marriage, like child care and homemaking, influence property division?

Contributions to the marriage beyond financial means, such as child care and homemaking, are valued under Florida law when determining an equitable division of marital assets. It is essential to highlight such contributions with the help of a skilled asset division attorney to ensure fair treatment during property division.

Are there any circumstances where a 50/50 division of property would not be considered equitable?

While Florida follows the principle of equitable distribution, there are circumstances where an equal split of assets may not be deemed fair. Factors such as significant disparities in earning capacity, health conditions or instances of marital misconduct can influence the court’s decision to deviate from a 50/50 division.

What should I do if I believe my spouse has undisclosed assets or income?

If you suspect your spouse is hiding assets or income, consult a knowledgeable division of assets lawyer who can help uncover hidden assets and ensure a fair property division.

Contact Us Today For Further Guidance

If you are seeking an experienced family law team who can ascertain your assets and debts and advocate for your interests during your divorce, let us help. With years of collective experience, our attorneys at Pacheco Perez P.A. can help you.

Make an appointment today. Call 305-742-0063 or fill out our simple intake form if you have a question. Se habla español.