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Property Division
Property division is among the most complicated parts of divorce. This is all because of the sheer amount of valuable items that should be equally distributed between the spouses. It may take a very long time to come to an agreement where both feel equitable and fair. With this in mind, it could be very helpful to understand the basics and complexities of property division with the help of a skilled property division attorney.
The Equality Division
When dividing any property, it is always important to ensure that both parties are getting an equitable share. It simply means that each spouse walks away from the marriage with an equivalent share of the property. The doctrine of the equitable division mainly protects the spouses from being left with nothing especially if the marriage ends. Upon hiring a professional property division lawyer, spouses can be sure to get what the best for them is.
Florida is one of the many states that follow all the rules of the equitable distribution for dissolution and separation proceedings as well as divorce. In the process of property division, both partners determine what is considered as marital property and what is considered as separate property. This can include both the assets and liabilities. Anything that is considered as separate property is mainly given to the spouse who claims the ownership right over it. Anything that is considered as marital property is divided equitably between the spouses.
What comprises marital and separate property?
In Florida, separate property can be:
• Gifts that are given to one spouse
• Compensation mainly received by the spouse for personal injury claim
• Debt or asset acquired right before the marriage began
• Passive income or even appreciation of personal property
• Inheritance bequeathed to one spouse
Marital property mainly includes:
• Appreciation of separate property because of the contribution of both partners during their course of marriage
• Retirement benefits owned by both or only one spouse
• Debt or asset during their course of marriage
Getting a reliable help from property division attorney
During the divorce proceedings in Florida, at the request of both spouses during their separation, the court should determine what comprises the marital and separate property. Getting all facts right before the court is very important during this time mainly because it allows the court to make a fair determination regarding the marital and separate property. You definitely need an assertive, yet sympathetic division property lawyer to work with you during this time or else you might end up questioning whether you got a fair deal or not. When that time comes, it would be too late on your part to correct the error.
When you schedule an appointment with our skilled property division attorney, you will surely get a supportive and compassionate professional beside you. This expert will listen to your side of the story and at the same time make sure that your expectations are in line with what Florida law does and what it does not allow. If you need legal representation that can assist you with the division of your marital assets, call The Law Office of Jimmy Brown at (352) 799-0841 today.
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