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Understanding how marital estates are divided in Florida divorces

On Behalf of | Jan 7, 2015 | Property Division

Decisions regarding the division of property and assets are often some of the most hotly contested issues during Florida divorces. Determining which spouse should receive certain items can be especially tricky when there are high assets at stake. A family-owned business, an extensive stock portfolio or perhaps a vacation home are some examples of items that can form battle lines between divorcing spouses. This is particularly true for couples who are married without first creating a prenuptial agreement.

Under current Florida law, family courts are required to equitably divide a couple’s marital estate between both spouses. The important thing to know is that an equitable division is not the same thing as an equal split down the middle. In other words, a court has the discretion to divvy up marital property based on the concept of fairness to both spouses.

Generally, the marital estate is considered to be any assets or property that were acquired during the course of the marriage. Of course, there are some exceptions to this rule. Items such as personal gifts or inheritances that were given solely to one spouse are exempted as part of the marital estate.

In some cases, spouses may attempt to conceal property and assets from the court so they will not be considered as part of any equitable division. Underreporting income, transferring funds to dummy accounts or simply increasing a personal salary from a family-owned business are all examples of attempts to avoid equitable division.

Based in Miami, our law firm represents clients in high-asset divorces throughout the Miami-Dade area, including South Beach, Florida. Our law firm utilizes forensic accountants and financial investigators to pore over financial documents and uncover concealed wealth.

We do not charge a fee to our clients for their initial consultations. Our office can also accommodate clients who are more comfortable speaking in Spanish.