|
Florida Info
Florida Divorce
Start Your Divorce
Find Professionals
Florida Articles
Divorce Facts
Divorce Grounds
Residency
Divorce Laws
Property Division
Alimony
Child Custody
Child Support
Divorce Forms
Grandparent Rights
Florida Articles
Agreements
Attorney Relationship
Custody & Visitation
Child Support
Collaborative Law
Counseling
Divorce/General
Financial Planning
Mediation
Parenting
Property Division
Spousal Support
Info Categories
Contemplating Divorce
Children & Divorce
Divorce, Dollars & Debt
Divorce Laws
Divorce Process
Divorce Negotiation
More Information
Articles Checklists Research Center Cases of Interest Dictionary Encyclopedia Encyclopedia (pop-up) Blogs
For Professionals
Advertise With Us Free Network Page Join Our Network Submit Articles Sign In Network Sites
|
Property Division
When it comes to getting a divorce in Florida, one issue that commonly arises is that of asset distribution. Which assets are solely yours, and which assets belong to both you and your spouse?
In most cases, a divorcing couple considers their marital home to be their biggest asset - and the marital home continues to be one issue that is often contested. So how does a Florida divorce judge decide who gets to keep the home?
Non-marital property needs to be protected in a divorce. Division of marital property is quite different from enforcing your rights to your own non-marital property. Property you owned before you got married including inheritances or gifts can also be non-marital even if received during the marriage.
As we have talked about in previous articles, anything you owned before the marriage, whether from a gift or otherwise, is your non-marital property. What about gifts received during the marriage?
In every Florida divorce, the judge must determine what property owned by each spouse is marital and what property is non-marital.
When you woke up on the morning of your wedding day, you owned some things: a car, some clothes, a bank account, maybe a house. All of that remains your separate property during the marriage and does not get divided during a Florida divorce.
Not long before I started practicing law, the divorce laws did not allow the courts to divide a pension in a divorce. All of the other property got divided, but the spouse who had been working more and had a larger pension got to keep it all. Sometimes that result was extremely unfair.
The law requires that the assets and debts of the marriage are to be divided equitably. That technically means that it will be done fairly, but not necessarily equally. If a family court judge has a "substantial" reason to divide your marital property other than 50/50, the judge may do
The distribution of property in a divorce in Florida is covered by Chapter 61 of the Florida Statutes. Rather than a community property state, such as California, Florida has adopted what is known as Equitable Distribution. Under the Equitable Distribution scheme, marital property is fairly divided between the parties.
During Dissolution of Marriage (Divorce) and the dividing of assets, there is an administrative detail known as Valuation Date. The Valuation Date refers to the value of the assets on a certain day.
One of the most common issues I deal with as a family law practitioner pertains to the valuation and distribution of property in a divorce setting. Many people are surprised about what circumstances can and cannot affect the distribution of marital assets, having seen one too many television courtroom dramas.
For many families, a significant portion of their wealth may be located within the couple’s individual retirement accounts (IRAs). Should the family unit break down, it is therefore important to have an equitable and easy method to divide and transfer assets.
Navigate:
Home
States
Florida Divorce Source
Florida Divorce Articles, News and Resources
Property Division
A spouse who does not make timely support payments can have his or her wages garnished through the Florida Child Support Enforcement Department. The court orders that alimony be automatically taken from the paying spouse's paycheck. The court can also order that the paying spouse give the alimony payments to the Support Enforcement Department, which will give the money to the receiving spouse. The department acts as a third party which manages the collection and distribution of support payments on a statewide basis. If the paying spouse of child support or alimony fails to make timely and sufficient payments, the court can suspend the paying spouse's driver's license.
|
FEATURED TOOL - The Custody JunctionTM Advantage (Scheduling, Tracking & Reporting Like Never Before)
|
Your Right to Child Custody, Visitation & Support Cover Price: $ Your Price: $17.95 You Save: $7.00 "A Plain English Guide to Protecting Your Children" Author: Mary L. Boland, Attorney at Law
|
| The information contained on this page is not to be considered legal advice. This website is not a substitute for a lawyer and a lawyer should always be consulted in regards to any legal matters. Divorce Source, Inc. is also not a referral service and does not endorse or recommend any third party individuals, companies, and/or services. Divorce Source, Inc. has made no judgment as to the qualifications, expertise or credentials of any participating professionals. Read our Terms & Conditions. |





