assets and debt division in a florida divorce This situation frequently arises when one spouse owns a business from before the marriage.
Table of contents
- Divorce Laws in Florida
- Can I Get the House Even If It’s Not My Separate Property?
- Contact Us
- Florida Divorce - Basics of Property Division
- Property Division | Lisa Marie Vari & Associates, P.C.
Dividing assets in a divorce can be a very difficult process. Things become even more complex when there are significant assets involved or if the couple divorcing is at all hostile. In a divorce, only marital assets and liabilities are divided.
This refers to all property acquired during the marriage, regardless of ownership or title. One of the first things you should do together is complete a list of all marital assets.
If you can do so amicably, it makes the entire process faster and easier. Items that must be on this list include your home, joint property such as land or vacation homes, any vehicles, valuables like jewelry and artwork, household belongings such as furniture and appliances, bank accounts, securities, and retirement plans.
Divorce Laws in Florida
In the state of Florida, the law calls for an equitable distribution of marital assets and liabilities. A judge will set aside all non-marital property , also known as separate property. This is any property that each spouse previously owned and brought into the marriage.
But be aware that this is not always so straight-forward, as some non-marital assets can become mixed with the marital property. An experienced Jacksonville divorce attorney can advise you on the technicalities of separate assets.
Can I Get the House Even If It’s Not My Separate Property?
Equitable distribution of assets typically means an equal division of assets and debts. If you believe that your spouse dissipated assets, please contact our law firm right away. Dissipation of assets is defined as the unreasonable, unjustified waste or abuse of marital property. In practice, dissipation of assets can come in a wide range of different forms.
Some notable examples include:. In some cases, dissipation of assets is clear and obvious.
For example, if a spouse withdraws a large amount of money from a joint bank account and then goes on a gambling spree while the divorce is still making its way through the legal process, there is little question that dissipation has occurred. However, in other cases, dissipation of marital property may be disguised.
Florida Divorce - Basics of Property Division
If a spouse intentionally dissipates, wastes, depletes, or destroys marital assets, then that can and should be reflected in the property distribution. Though, notably, Florida puts a strict statute of limitations on dissipation of marital asset claims. To be considered by a court, the alleged dissipation of assets must have occurred within two years of the date that the divorce petition was filed or after the filing of the divorce petition.
As was mentioned, dissipation of assets cases are complicated. There are often disputes whether or not dissipation occurred at all. If you believe that your former partner abused or wasted your marital assets or if your former partner is accusing you of dissipating marital property, it is imperative that you speak to an experienced Florida divorce lawyer right away.
Your lawyer will protect your financial interests. At the Law Office of Gale H.
Property Division | Lisa Marie Vari & Associates, P.C.
Moore P. To arrange a confidential family law consultation, please contact us today. Our law firm serves clients in Clearwater and throughout the surrounding region, including in St. The Law Offices of Gale H. Moore is committed to providing exceptional divorce representation to clients in the Clearwater-St.