Property division is frequently one of the more highly contentious areas of a divorce proceeding. Being an equitable distribution state, Florida law requires all marital property be divided in a fair and equitable manner. Issues can arise in the process of deciding what should be included in the marital property and what the spouses consider to be “fair and equitable”.
Marital property is defined as any property purchased or any debt taken on by either party after the couple is married. Property acquired prior to the marriage is typically considered separate property. The best way to protect your separate property is to have a prenuptial agreement in place prior to the wedding. Once all marital assets and liabilities have been identified, the next step is to assign a value to each item and determine a fair manner of distribution.
The Right Experience for Your Family Law Case
The Florida-based law firm of McMichen, Cinami & Demps have worked with countless clients to resolve even the most contentious asset and liability division matters. We regularly work with experts who are skilled in property and business valuation. We have handled complex cases involving businesses, multiple properties, extensive assets, IRAs, 401(k)s and other retirement plans and the implementation of Qualified Domestic Relations Orders (QDROs) for the division of retirement assets without tax implications.
It is important to remember that, if the spouses are not able to reach a property division agreement themselves, the court will decide the issue for them. The court’s order is binding and could result in a less-favorable outcome for both spouses. We are committed to helping you through the entire property division and marital debt process. Our Central Florida equitable distribution lawyers will be there for you until a final agreement is reached or if necessary, a trial court’s decision.Schedule an Initial Consultation Contact our Orlando, Florida, office to discuss your property division questions. We will give you an honest assessment of the legal issues involved in your case and let you know what we can do to help.