Property & Asset Division Attorney Serving Sarasota, Lakewood Ranch, and Bradenton
Divorce is an experience most wish to avoid. It can be emotionally and financially draining. Divorce becomes more complex when marital and nonmarital property comes into the equation. Hire a Florida marital property division lawyer from Luhrsen Goldberg to protect your nonmarital property and ensure you receive the marital property you deserve during a divorce.
How Marital Property is Divided in Florida
Florida is an equitable distribution state when dividing property in a divorce, which means that the judge will do their best to divide assets fairly between former spouses. Of course, the nature of fairness in a divorce depends on whom you ask. Nevertheless, judges are committed to remaining as objective as possible during this decision-making process.
The division of marital property process begins with the assumption that the property should be divided equally between the two parties. In some instances, there is an unequal distribution of assets and debts. The first step in the process is to work with a Florida marital property division attorney to identify what you want to keep, what you feel you are entitled to have, and why. A marital property division attorney in Florida can help you better understand what you should and should not ask for and any factors that may come into play during the division of marital property process.
Factors When Dividing Marital Property in Florida
When speaking with an asset division attorney in Florida, you will learn that the law dictates how fair distribution works and the factors influencing an unequal distribution of assets and debts.
A host of considerations directly affect how marital property is distributed. For example, the length of the marriage and how much money each spouse contributes to the household can have an influence. A spouse’s contribution to the education and homecare of the child also comes into play. The debts and liabilities each spouse come into a marriage with or accrued during the marriage are considered.
The number of factors to consider when dividing marital property in Florida is substantial. A spouse having a sustained gap in their career or pursuing an educational opportunity during the marriage can influence how marital property is split up. If one spouse financially contributes to the career or education of the other spouse (directly or indirectly), it can also influence the division of assets and debts. Researching asset division attorneys in Florida and finding the best one for you is the best way to protect yourself.
Determining Marital and Nonmarital Property
Figuring out the difference between marital and nonmarital property is much harder than it seems. An asset division lawyer can help you navigate this minefield of information, so you are not blindsided and left with fewer assets (and more debts) than you deserve.
When assessing what is and is not marital property, there is much to consider. Spouses bring certain assets and debts with them into a marriage. Other assets and debts accumulate after they are wed. Trying to draw a clear line between what came before marriage and what came after is tricky.
If a spouse comes into a marriage with a retirement account, which they continue contributing to after the couple is married, is their spouse entitled to 50% of the account’s value? What if the other spouse had credit card debt before tying the knot, and those bills continued to pile up over the years? Is the other spouse on the hook for paying off 50% of that debt after a divorce? These are some of the tough questions asset division lawyers can help answer.
Florida’s Property Division Laws
As noted before, Florida is an equitable distribution state. Regarding divorce, there are two kinds of property, marital property and nonmarital property. Property division attorneys must follow Florida’s property division laws because that will hold up in a court of law.
According to Florida law, nonmarital (or separate) property is usually owned by one spouse before marriage. If one spouse inherits or is gifted property during the marriage and is given to them solely in their name, it is nonmarital property. On the other hand, marital property can include assets and debts that either spouse attains during the marriage.
Below are several items that may be considered marital property:
- Family homes
- Motor vehicles
- Household items
- Retirement and investment accounts
Appreciation of assets is also taken into consideration. For example, let us say that money was invested into an asset (like a retirement account), and it is now worth more than previously. In this case, those earnings could be considered marital property. Not only can property division lawyers help you understand Florida’s laws impact marital and nonmarital property, but they can also explain how nonmarital property can become marital property.
How Nonmarital Property Can Become Marital Property
A marital property division lawyer in Florida will explain to their client that, under Florida law, nonmarital property can become marital property. How does this happen? It typically occurs when property or funds (previously separate) are combined.
If someone enters a marriage with a house in their name, it is nonmarital property. If they add their new spouse to the deed as a legal owner, it becomes marital property. The same can apply to bank accounts and similar assets. This commingling of assets that were once separate can cause problems during a divorce.
Contact Luhrsen Goldberg for a Florida Marital Property Division Lawyer
Those going through a divorce turn to Luhrsen Goldberg for a Florida marital property division lawyer. Our team of committed attorneys fights hard for our clients. We welcome the opportunity to provide you with Law Powered by Women® legal assistance. Contact us today.
Turn to Luhrsen Goldberg for Your Florida Marital Property Division Case
Founded in 2016 by Julie S. Luhrsen, Esq. and Christina A. Goldberg, Esq., Luhrsen Goldberg is a woman-owned and led boutique law practice. We are committed to fighting hard for our clients and putting our life experiences, perspectives, and skills to work for you.
Those looking for a property division lawyer in Florida turn to Luhrsen Goldberg because they know we have extensive experience in numerous areas of family law. When you seek a Florida marital property division lawyer, our team of committed professionals welcomes the opportunity to provide you with Law Powered by Women® legal assistance.