Although you may feel like the costs of the lawyers are already high enough for you to pay, it can be worth your money to obtain appraisals on the value of any unique marital asset to ensure you are not shorting yourself in a settlement by placing too high or low of a value on an asset.
- Equitable Distribution during Florida Divorce.
- Property Division | Lisa Marie Vari & Associates, P.C..
- Dividing Property in a Florida Divorce!
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The date closest to trial will also be used to value an asset in most cases, if a spouse was forced to spend down the value of an asset during the divorce case, to support themselves, their spouse, or pay the costs of litigation. A Florida divorce property division can start to get complicated if you inherited money during the marriage or brought assets into the marriage that had any significant value.
If this is the case, you would be well served by obtaining as many details as you can about your inheritance or assets owned prior to the marriage, including:. Florida Divorce Property Division Overview.
Once discovery is thoroughly completed, the formal analysis regarding division of assets can begin. In Florida, property earned, obtained and accumulated during the marriage is marital property. A single asset may have a marital and a non-marital portion.
Retirement funds and pensions, vested or not, are marital property for the period of which they were accumulated and increased in value during the marriage. Property acquired by either spouse before marriage is non-marital property. Gifts and Inheritances acquired during the marriage by an individual spouse are not marital. All of the above rules are merely presumptions in Florida and either party can overcome the presumption and declare marital property to be non-marital or non-marital property to be marital by claiming an exemption and proving by a preponderance of evidence that the exemption applies.
Equitable Distribution Frequently Asked Questions
There are numerous exemptions in both the statute and the case law. Below are just a few of the more common exemptions that can be pursued:. Farrior v. Farrior, So.
Find out how marital property (and debt) is divided in an Florida divorce case.
These include:. On the other hand, other properties are considered as marital assets, and therefore subject to division. These are:.
Part of the equitable distribution process involves a determination of relevant dates for the classification of assets and liabilities as marital and non-marital, and for valuing assets and liabilities. The cut-off date for determining marital assets of a marriage may be:.
Questions and Answers on Florida Divorce Law
The earliest date among the three may be the cut-off date. Anything acquired after the cut-off date may no longer be considered as marital and not subject to distribution.
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As an exception to the rule on equitable distribution, the court may issue an order for an unequal division when certain factors are considered, such as:. The contribution of one spouse to the personal career or educational opportunity of the other.