Going through the process of dividing property during a divorce may be considered one of the more stressful proceedings. Florida residents encountering divorce may be concerned about which items they will be able to keep as their own and which may be awarded to an ex-spouse. Because state laws dictate these processes, residents’ marital assets will be divided as fairly as possible.
Florida is known as an equitable distribution state when it comes to divorce. As a result, assets may not technically be split evenly as long as the division of property is considered equitable. Monetary value of assets may come into play, as will any marital debts. There may also be numerous other factors that could determine how assets and liabilities are considered when it comes to property division.
If an individual hopes to maintain ownership of a particular piece of property, he or she may wish to determine what steps could potentially be taken to achieve that goal. Because the proceedings for division and valuation vary in different areas, finding out more information on state proceedings may be useful. It may also be helpful to remember that separate property typically remains the property of the original owner.
If Florida residents hope to make the most out of their property division proceedings, they will want to prepare as best as possible. By creating an inventory and determining which assets are most desired, it may be possible to create a plan for working toward maintaining ownership of those assets. Most find it beneficial to discuss their specific cases with experienced divorce attorneys.
Source: Forbes, “50 Ways To End Your Marriage: Divorce Laws Vary Widely From State To State“, Jeff Landers, May 24, 2016