Brevard County Property Division Lawyers
Your Advocate During an Emotional Process
Marital property is subject to equitable distribution when a couple divorces. Equitable distribution typically means “fair,” not necessarily a 50-50 division. Of course, each person has a different idea of what is fair in a divorce. As your lawyers, it is our job to protect your rights and to help you make informed decisions. When clients spend excessive time and money fighting over property, we do a cost-benefit analysis with you, so you can decide if the battle is worth it.
When the client chooses, however, we litigate aggressively. The divorce lawyers at Platt Hopwood Russell & Cole are committed to meeting each client’s needs, whether that means negotiating or litigating property division. Our Brevard County property division attorneys have the experience to value and separate marital and nonmarital assets and debts. Because you cannot modify the property division settlement, we understand the importance of getting the settlement you want.
Melbourne Equitable Distribution Lawyers Serving the Space Coast and Treasure Coast Region With Integrity and Dedication
Marital Assets and Debts
Before property division begins, the court must determine marital versus nonmarital assets and liabilities. Under Florida law, property acquired and income earned during a marriage is generally considered marital property. The law provides that interspousal gifts (gifts from one spouse to the other during marriage) are marital property and gifts to one spouse from others are nonmarital property. Rights to certain assets or debts can be specified as separate or nonmarital in a prenuptial agreement.
Marital assets can include:
- Bank accounts
- Real estate
- Personal property (such as vehicles, furnishings, art and jewelry)
- Retirement accounts and insurance
- Stock options and portfolios
When a high net worth couple divorces, property division is often more complex. We have experience valuing and separating sophisticated financial holdings and assets such as businesses and professional practices.
The marital debts must also be divided. This may include a mortgage, other loans, taxes and credit card debt. Judgments against both parties are also a marital obligation.