Understanding Florida's Marital Property Division Laws and Procedures
For many people, especially those with grown children or no children at all, the most important issues in their divorce will concern property division. Florida is an equitable distribution state, which means that the primary legal objective is to achieve a fair division of marital assets and liabilities as opposed to a strictly equal one. At the same time, getting an accurate idea of what an even split would look like is usually a good starting point for the property settlement process.
Contact the law firm of Robert J. Moraitis, P.A., in Fort Lauderdale to learn how you can benefit from our experience with the characterization, valuation and distribution of marital property in a divorce of any degree of complexity. Whether you need to achieve the fair division of a multimillion-dollar marital estate or divide the assets and liabilities of a financially stressed middle-class household, the objectives and techniques are basically the same: to secure your financial security to the greatest extent possible on the basis of correct valuations.
Call 954-525-9600 for Advice on Property Division Issues
It's a good idea to start with a comprehensive list of the marital assets and debts, together with working estimates of values and a list of the assets that are likely to present problems with respect either to characterization or net value. Characterization refers to the asset's status as marital or separate property — if it's separate, then it belongs to one spouse or the other, and shouldn't be subject to division. Net value refers to the value minus mortgages, liens or security interests.
Once you have a good understanding of the overall value of the marital property, we can then develop settlement proposals that make sense for your situation. Because what's fair in a given case is highly dependent on individual circumstances, we consider such factors as tax attributes, alimony arrangements, length of the marriage, and even asset liquidity to develop and review property settlement alternatives.
An important goal for most people is to reach agreement on property distribution without unnecessary litigation, which after all will effectively reduce the overall value of the property to be divided. Divorce lawyer Robert Moraitis has the experience and strategic sense necessary to protect a client's interests without pushing disputes into court.
Length of Marriage is an Important Factor in Florida Marital Property Division
The longer the marriage lasted, the more likely the property settlement will approach an even distribution of assets and liabilities, everything else being equal. To learn how the special circumstances of your case can affect the result in one direction or the other, contact a Fort Lauderdale equitable distribution attorney at the law firm of Robert Moraitis, P.A.
