Orlando Property Division Lawyers
Property division can be a difficult aspect of divorce, especially when a couple has significant assets or has been married for a long time. In some cases, the parties own businesses or have significant assets that are not liquid, such as real estate. With the guidance of skilled a Orlando property division lawyer, Amy Goodblatt or Tatiana Leo, divorcing spouses can work together to divide property in a manner both feel is fair and reflective of each spouse’s contributions to the marriage. If this cannot be, it is essential to have Orlando property division lawyers on your side.
Marital vs. Separate Property
When a couple divorces, only marital assets and debts are divided. Nearly everything spouses acquire (assets and debts) during the marriage is considered marital property, including vested or non-vested stock benefits, retirement funds, pension funds, profit-sharing, annuities, deferred compensation, and insurance cash value. Property is separate if a spouse owned it before marriage or acquired it during marriage as a gift or by inheritance.
Marital and separate property frequently are mixed together, intentionally or unintentionally. This is often called “commingling.” For example, a house owned by one spouse (purchased before the marriage) may become marital property if both spouses pay the mortgage and other expenses during the marriage. There is much case law and precedent to address these issues. For this reason, it’s important to have experienced Orlando property division lawyers, such as Amy Goodblatt or Tatiana Leo, who are up-to-date on the mechanics of equitable distribution of both marital and non-martial assets and debts.
Property Division Lawyers in Orlando
Florida law requires an equitable—or fair—division of property between divorcing spouses. In many cases, equitable does mean equal; however, a judge who believes that a precisely equal division would be unfair may divide the property in a different proportion after considering all relevant factors, such as:
- The length of the marriage
- Each spouse’s economic circumstances
- Any interruption in either spouse’s career or educational opportunities
- Each spouse’s contributions to the marriage, including contributions as a homemaker or parent
- Either spouse’s contribution to the career or education opportunities of the other spouse
- Each spouse’s contribution to acquiring or increasing income, or to paying liabilities
- Each spouse’s contribution to improving the value of marital or non-marital assets
- Either spouse’s intentional dissipation, waste, depletion, or destruction of marital assets after the filing of the petition for divorce or within two years immediately prior to filing
When dividing property, a court must consider how difficult an asset is to divide. For instance, a business started by one spouse during the marriage is usually a marital asset; nonetheless, a judge is likely to award the business entirely to the spouse operating it, while giving the other spouse property or money to make up for the value of the business.
Contact Our Experienced Orlando Property Division Lawyers
Property division is complicated and often requires the assistance of knowledgeable and experienced counsel. Contact the Orlando property division lawyers of Goodblatt · Leo for advice and guidance on how to obtain a fair property settlement and to preserve your assets, both marital and non-marital.