Navigating a divorce can be stressful and complex. You’ll likely have many questions and concerns, not the least of which is the fair division of marital assets. Florida (like most U.S. states) is an ‘equitable distribution’ state. That means courts will strive to divide any property (including financial assets) evenly and equitably during divorce proceedings.
The trouble is, sometimes courts will rule that a greater share of the assets or funds must be distributed to one spouse over the other. These decisions are made based on a variety of factors and have nothing to do with gender, race, or any kind of favoritism or bias. It’s also important to note that equitable distribution, in this case, relates only to property and assets acquired during the marriage.
While all of this may sound confusing and even overwhelming, the good news is that it doesn’t have to be. When you work with a trusted and reputable divorce attorney in Daytona Beach, you get the peace of mind that your best interests are always top of mind. Read on to discover essential information about dividing property in your Florida divorce case.
Consider Important Factors
In order to accurately determine existing assets and their equitable distribution, you must first go through the ‘discovery’ phase. This is where all property is cataloged. During this process, questions could also be presented to all parties involved in the divorce. It’s essential that you work with a Daytona Beach lawyer to avoid potential complication or confusion.
Your attorney can also help you reach answers to important questions such as monetary contributions made by both spouses in terms of youth education and development. Other factors will also be explored, such as the length of your marriage, the financial state of both spouses, potential disruptions in career advancement or education that might occur as a result of the divorce, and similar.
Focus on Monetary Value
Over the course of your marriage, it’s understandable that you’ve purchased or acquired some objects that have deep sentimental value. From a legal standpoint, however, the court will focus solely on the monetary value of these items and property.
In order to remain focused on the best methods by which to reach an equitable divorce, it’s wise to partner with a Daytona Beach divorce attorney who can provide you with valuable insight and information, and help you stay focused on the task at hand during this trying time.
Ensure Fair Marital Property Division
Your attorney will also assist you in getting to the bottom line of sometimes-complex details surrounding your divorce. That includes determining all assets and liabilities that can be considered marital property, and thus eligible for equitable distribution. Common assets are retirement accounts, insurance plans, dual real estate ownership, and more. Shared debts must also be addressed.
Some assets will be difficult or impossible to divide equally. That includes the family home, jointly-owned business ventures, and similar items. Rather than allow yourself to become upset or overwhelmed by this sometimes-complex process, it’s best to team with a divorce lawyer in Daytona Beach who can help you find clarity and insight into the next steps of your separation.
Secure Reliable Representation
You should also remember that every divorce is different. Your process won’t be the same as friends, loved ones, co-workers, or others with whom you may have discussed your unique situation. Instead of taking advice from people who might not have a firm grasp of current laws, it’s integral to consult with a friendly and qualified divorce attorney.
Through the years, our firm has earned a solid reputation as the dependable resource for a variety of legal concentrations. That includes divorce and collaborative divorce, family law, probate, guardianship, and estate planning. Contact us today to learn how you can achieve equitable distribution of assets and property in your divorce.
