In a perfect world, property division during divorces would run straight down the middle. In other words, anything either spouse brought into the marriage would remain their individual property. Additionally, anything that both parties acquired together while married would be sold and the money divided between the spouses evenly.
No matter how amicably a marriage ends, there will be impact on husbands, wives and children. It's likely, however, each will feel it in different ways. Women going through a divorce, in particular, are often faced with reduced resources. But sensible planning based on understanding might lessen the financial stress that building a different future might trigger.
It may sound cold and calculating to consider the assets husbands and wives will bring to a marriage as something to be distributed properly in the event of a divorce. Love, trust and sharing are attributes that define a relationship, so there shouldn't be a need to think about divorce before rings are exchanged and vows are made. But husbands and wives these days are often older, with established professions and accumulated wealth or real estate. Many times, they have been married before, and they have children that will form a blended family upon the marriage.
Florida is an equitable distribution state. This means all assets and property a husband and wife acquire while they are married are divided equitably between them upon divorce. The important thing to note here is that equitably doesn't automatically mean in half. Because of this, an otherwise generally amicable end to a marriage can become fraught with complexities.
For many people, the concept of a prenuptial disagreement is one of distrust. However, bringing up a prenup to your future spouse doesn't have to be a sign that you don't trust him or her. Instead, a premarital agreement can be a way to work together to build even more trust and create a strong foundation for future communication and understanding.
Property division is often one of the most stressful and contentious parts of a divorce. Even when Florida couples are striving for a civil split, protecting individual interests becomes a bigger desire -- often even a survival mechanism. Survival may not be at the heart of a property division battle in a billion-dollar case making national news, but questions about the value of the husband's business are.
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.
Although property can be legally divided at various times in life, including during estate administration, the definition of property division we will cover here is related to divorce. When Florida couples divorce, there are likely both individual and marital assets to be considered, and dividing that property in the most equitable way can be difficult.
Going through a divorce can be stressful. On top of emotional, family and social issues, people going through divorce processes are often dealing with a wide variety of legal forms and requirements. During property division negotiations, it can be easy to overlook some of the more obscure items of marital property.
Dividing marital property can be difficult during and following a divorce, especially when contentious issues arise between the parties. Finances can be a sticking point when both individuals are attempting to look out for themselves. Add minor children to the mix, and even well-meaning parents can find themselves in divorce disagreements over a number of money questions.