When couples in Florida pursue divorce, separating property and assets equitably can be complex.
Understanding Florida laws is crucial for divorcing couples who own real estate, investments, and retirement accounts. Furthermore, there are actions people undergoing divorce can take to improve the process and outcome of property division.
Divorce Law in Florida
In Florida, family courts strive for equitable distribution of marital property. This does not necessarily signify that courts should divide each asset halfway between the two parties in the divorce. Rather, the goal of property division in a Florida divorce is to ensure both spouses receive roughly equivalent shares of the marital estate.
Nonmarital property is typically not part of the divorce settlement. Nonmarital assets can include inheritances and any property earned or acquired after divorce. However, sometimes marital and nonmarital properties become commingled during the course of a marriage and splitting these assets can be challenging. In addition, individuals can use prenuptial agreements before marriage to define certain assets as non-marital.
Preparing for Property Division
People who are divorcing can take steps to promote fair outcomes when dividing marital properties. For instance, it can be beneficial for divorcing spouses to express which assets are personally meaningful. Valuables such as artwork, jewelry, and vehicles can hold significant sentimental worth.
Furthermore, it is essential that both parties are truthful when disclosing assets. Attempting to conceal property in a divorce can be detrimental to proceedings. Instead, each spouse should carefully account for their shared and personal assets and discuss openly the purchase history and usage of various properties.
Under Florida’s divorce laws, courts should aim to distribute marital property equitably, if not equally, to both spouses.