At Charles E. Willmott, P.A., we are a law firm in Jacksonville, FL specializing in property division for divorcing couples. We understand the complexities of dividing assets in a divorce, and our Jacksonville property distribution attorneys are here to help you get through the process with as little stress and conflict as possible.
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.
Is Florida an Equitable Distribution State?
Florida is an equitable distribution state. This means that in the event of a divorce, the court will divide marital property and debts equally between the spouses. This does not mean that property is necessarily equally divided. The court will consider various factors, such as the length of the marriage, each spouse's financial situation, and the contributions of each spouse to the marriage (including home-making and child-rearing), when making its decision on how to divide the marital property.
Florida Marital Property
Marital property in Florida is any property acquired by either spouse during the marriage, regardless of who paid for it or whose name is on the title. Some of these assets include income, real estate, personal property, business property, investments, pensions, IRA's, vehicles, collectibles, jewelry, family possessions, and profit sharing plans. Some of the debts include mortgages, credit card balances, and car loans.
Many factors go into play when the court divides property, such as the cost of health insurance, annuities, liabilities and trusts. It's important to note that there are exceptions to the general rule that all property acquired during the marriage is considered marital property. Prenuptial agreements can also affect how property is divided in a divorce.
Non-Marital Property in FL
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. Property that was acquired by gift or inheritance to one spouse is considered separate property and not subject to division in a divorce. However, these assets can become marital property if they are commingled with marital assets or used for marital purposes.
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.
Because Florida is an equitable distribution state, each spouse should still receive a fair share of the value of the home.
A judge may order, or each party may agree, to:
If there are children:
Are Annuities Protected in a Divorce in FL?
In Florida, divorce can be a complex process, and dividing assets can be difficult. If you or your spouse have an annuity, it's important to know how it will be affected by the divorce. An annuity is a contract with an insurance company that guarantees a steady income stream at a future date. It's crucial to note that annuities are not considered marital property. Instead, they're considered income and therefore subject to equitable distribution during a divorce. This means that they can be divided between the spouses, but it's essential to have an experienced Jacksonville property division lawyer to help protect your interests.
Expert Jacksonville Property Division Lawyers
At Charles E. Willmott, P.A., I can help you sort through property issues when 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 Jacksonville property division attorney 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.
Property division is an important stage of the divorce process and requires serious attention. Call Charles E. Willmott, P.A. today!
Dedicated To Client Satisfaction
"Charles Willmott is a dedicated professional who will speak the truth. Mr. Willmott is straightforward with his clients and is willing to listen. He can take what at times can be very messy situations and come up with a clear plan of action."
"I was a mess the first day I met with him; he immediately put my mind at ease and explained the different outcomes my divorce may have had. He's extremely knowledgeable, upfront, and honest."
"I have been a client of Charles for almost nine years, and he has never let me down. He always told me what to expect and has been right every time."
Certified Family Law Mediator
Board Certified in Marital & Family Law
Nearly 30 Years of Experience in Family Law
Personalized Attention for Individual Needs
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