Orlando Property Division Attorney
Receive a Fair and Equitable Property Division in Your Orlando Divorce
In a Florida divorce, Florida law calls for the equitable distribution of marital assets and liabilities. Although dividing up the marital assets and liabilities equally in a 50/50 split is common, it is not always possible, and it is not always fair. a great deal of work goes into identifying, characterizing and valuing property so a fair and equitable division can be made, and a great deal of effort may also be involved in arguing when an unequal division is or isn’t fair and equitable. Count on the Orlando property division attorneys at Greater Orlando Family Law to represent your interests in the property division in your Florida divorce, helping to ensure you retain the property that is most important to you and that you receive a fair share in the division of marital property.
Distinguishing marital property from non-marital property in a Florida divorce
One of the jobs of the court in a Florida divorce is determining an equitable distribution of marital assets and liabilities. Marital assets and liabilities include:
- Assets acquired and liabilities incurred during the marriage, whether jointly by both spouses or individually by either spouse
- Any enhancement in the value or appreciation of nonmarital assets due to the efforts of either spouse during the marriage, including spending marital funds toward those nonmarital assets
- Any reduction of principal of a note and mortgage secured by nonmarital real property, along with the applicable portion of passive appreciation in the property, when the reduction was accomplished with marital funds
- Interspousal gifts during the marriage
- Vested and non-vested benefits accrued during the marriage in retirement, pension, profit-sharing, annuities, deferred compensation plans and insurance plans and programs
- Real or personal property titled jointly is presumed to be a marital asset.
Nonmarital assets and liabilities, on the other hand, include:
- Assets acquired and liabilities incurred by either party entirely prior to the marriage, and assets acquired and liabilities incurred in exchange for such assets and liabilities
- Assets acquired separately by either party by non-interspousal gift, bequest, devise, or descent, and assets acquired in exchange for such assets
- All income derived from non-marital assets during the marriage unless the income was treated, used, or relied upon by the parties as a marital asset
- Assets and liabilities excluded from marital assets and liabilities by valid written agreement of the parties (such as a prenuptial or postnuptial agreement), and assets acquired and liabilities incurred in exchange for such assets and liabilities
- Any liability incurred by forgery or unauthorized signature of one spouse signing the name of the other spouse
How courts decide on an equitable distribution of marital property
Courts consider many factors in deciding what kind of distribution, even if unequal, will be equitable. These factors are identified in Florida Statute 61.075, which our divorce attorneys are knowledgeable of and which our divorce attorneys use to fight for a fair and equitable result.
How our Orlando property division attorneys can help
The divorce lawyers at Greater Orlando Family Law can represent your interests in the division of marital assets and liabilities in numerous ways. First, our divorce attorneys can aid the court in determining whether assets are marital or nonmarital, including complex situations where marital and nonmarital assets have been commingled, or where their character has been transmuted by the conduct of the parties. Our skilled and knowledgeable divorce attorneys also play a pivotal role in presenting to the court evidence of the proper, accurate value of marital assets, even in complicated situations involving business valuations, self-employment income and intangible assets. Our divorce attorneys can also provide invaluable assistance in locating income and assets that one party may be trying to hide from the court through concealment or underreporting. Finally, our divorce attorneys gather and present the evidence necessary to assist the court in determining an equitable distribution of marital assets and liabilities, even if an unequal division is necessary.