Jacksonville Property Division Lawyer
How to Handle the Distribution of Your Property
Florida is an equitable distribution state. This means that marital property and debts are equally divided in the case of a divorce. This does not mean that property is necessarily equally divided. Many factors are used to make an equitable distribution of property, including child custody, support, and alimony. There are many possessions that the court will divide up in an equitable manner, but debts and assets that were obtained outside of the context of marriage will typically not be divided.
Some of these assets and debts include pensions, IRA's, business property, vehicles, monetary funds, collectibles, jewelry, family possessions, and profit sharing plans. Many factors go into play when the court divides property, such as the cost of health insurance, annuities, liabilities and trusts.
Who Gets the House in a Florida Divorce?
The marital home is often the most valuable asset that a couple will divide in a divorce. The pair can decide the fate of their house together through mediation or negotiation, or leave the matter to be settled by a judge or arbitrator.
While a couple cannot physically split the home in half, each spouse can still receive a fair share of its value. A judge may order, or each party may agree, to:
· Award the home to one spouse, who must then buy out the other’s share of the home
· Sell the house and divide the profit
If the pair has any children, the court will typically award the home to the custodial parent. This allows a kid to stay in their same room and school district, providing them with a degree of normalcy and continuity as they adjust to their changing home life.
Expert Jacksonville Property Division Lawyers
It is important to protect your property and make sure you receive the assets you deserve. Whether you have few marital possessions or you are facing a high net worth divorce, it is important to make sure that your assets are protected.
At Charles E. Willmott, P.A., I can help you sort through these property issues if you are going through a divorce or preparing a prenuptial agreement. I can help you distinguish between marital and non-marital property, as well as assets that are protected by a prenuptial agreement.
When it comes to dividing property after a divorce, it is vital to enlist the help of a lawyer who can help you with all aspects of property division. It is a complicated matter that can benefit from the expert attention of my firm. When equitably dividing your marital estate, my office can help you understand the factors that should be given consideration. I have helped many individuals obtain the assets they most desire.
This is an important stage of the divorce process that requires serious attention, so call my firm today!