Equitable Distribution of Marital and Non-Marital Assets in Florida
Division of assets in a divorce, or as it is now termed, a dissolution of marriage, is often considered, after the fate of minor children, the most difficult and heart-wrenching aspect of divorce. Material possessions, as well as property obtained after the marriage, referred to as marital assets, can hold a great deal of sentiment, as well as the feeling that hard-earned money went into obtaining the assets, and each party wants their fair share back. In Florida, the division of marital assets is done in an equitable, not equal, way. In other words, marital assets will be divided to make it as fair as possible though they may not have an equal monetary value. For example, one party may be awarded the entertainment center, and the other party the washer and dryer.
What is important to know in Florida Family Law is that a couple, if they can agree and create a marital agreement during mediation, the couple can decide for themselves how marital assets will be equitably divided. In fact, in almost all Florida jurisdictions, a couple will be required to attend mediation before a court hearing on their divorce case can be set. In addition to being less costly, quicker (Family Courts can be backed up for months, and private (proceedings are not public knowledge) when a couple decides for themselves how to equitably divide their marital assets and liabilities, the heartache of a judge not understanding the emotional importance of an asset such as a family pet or favorite piece of furniture will be avoided. Once a decision has been made by a judge and a final order handed down, the couple will have to abide by the equitable division in the order.
If a divorce case does go to court, there will be a lot of documentation needed to prove what is marital and what is non-marital. Receipts, bills, and proof of acquisition will be required for all assets claimed as non-marital (obtained before marriage). For example, an asset such as a car or house was purchased by one party before marriage, but after marriage, the title was put in both names the asset then becomes marital. There are many tricky areas when it comes to determining what is marital and what are non-marital assets, and both parties will need a Family Law lawyer to help them sort out each party’s stand on equitable division. And, even when the lawyers present their claims regarding how to equitably divide their client’s marital assets if the case goes to court, it will be the judge who decides the equitable division of marital assets.
As you can see, it is of utmost importance to retain a quality Family Law lawyer to help you through a divorce. For people living in Florida’s counties of Palm Beach, Martin, St. Lucie, Miami-Dade, Broward, Orange, and Hillsborough and New York or Washington DC, Florida Board Certified Family Law Attorney Grant Gisondo is well qualified to help. He has successfully been helping handle divorce cases for over a decade. Please visit his website https://gisondolaw.com to learn his stellar qualifications and the many ways he can help. You can call his office with questions at (561) 530-4568 and learn about the free, initial, in-office, consultation offered by Attorney Gisondo.