Property division is frequently one of the most contentious areas of an Orlando divorce proceeding. Florida law requires all marital property to be divided in a fair and equitable manner since it is an equitable distribution of marital property state. 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”. Because of this, it is advisable to hire an experienced Orlando property division lawyer to protect your assets.
Marital property is defined in as any property purchased or acquired during the marriage and 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 family law firm of McMichen, Cinami & Demps has 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:
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 note that if the spouses are not able to reach a property division agreement themselves, the court will resolve the issue for them. The court’s order is binding and could result in a less-favorable outcome for both spouses.
When dividing property, a Florida court would consider multiple aspects of a marriage, including:
Each spouse’s current income and future income potential,
Length of the marriage,
Contributions each spouse made to affect the earning potential of the other spouse, and
Child custody responsibilities of each spouse according to the parenting plan.
We are committed to helping you through the entire property division and marital debt process.
Contact An Orlando Property Division Attorney Today
Our Orlando property division lawyers will be there for you until a final agreement is reached. Contact our Central Florida office to discuss your property division questions with an experienced divorce attorney. 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. Call us today to ensure the best possible distribution of marital assets.