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Property Division

Florida PROPERTY DIVISION LAWYER

Ending a marriage requires settling various financial matters between the divorcing spouses. In every marriage, each spouse owns their own respective separate property, and the couple shares ownership of marital property. This generally includes income earned by both spouses during their marriage, property purchased jointly, and all assets and debts acquired during their marriage. Divorce requires the spouses to divide their marital property, and every state uses a different method for accomplishing this fairly in divorce.

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Understanding Equitable Distribution in Florida Divorce

Every divorce is different, and some divorcing couples are more agreeable than others when it comes to negotiating their divorce terms. When most people in the Florida area think of divorce, they imagine emotionally charged courtroom battles, while the reality is that most divorcing couples opt for alternative dispute resolution. While it’s not possible to solve every issue in every divorce through private settlement, alternative dispute resolution can provide substantial flexibility to divorcing couples negotiating property division.

Under the equitable distribution standard, the court expects divorcing spouses to split their marital assets and assign separate responsibilities for shared debts as fairly as possible. While it is possible to litigate a divorce and let a judge settle property division, the judge’s interpretation of what would be “fairest” isn’t likely to align with either of the divorcing spouses’ expectations. When a divorcing couple is willing to explore alternative dispute resolution, they have more flexibility in negotiating property division under the equitable distribution law.

Both spouses must provide complete financial disclosure statements that include all necessary financial records. If a divorcing spouse intends to assert separate property ownership rights, they must include all supporting documentation in their financial disclosure statement. All other marital property must be divided equally. The spouses could decide to liquidate certain assets and divide the proceeds, and a judge will likely require similar actions if a couple litigates property division. By exploring alternative dispute resolution, divorcing spouses may effectively negotiate “trades” of specific assets and otherwise customize their property division agreements to their preference.

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Guiding Florida Clients Through Property Division in Divorce

Florida is one of many US states to use an equitable distribution law. This property division method aims to ensure the fairest possible division of marital assets and debts in divorce by accounting for as many details as possible between the divorcing spouses. The equitable distribution standard typically aims to resolve property division with some measure of finality, negating the need for ongoing spousal support arrangements. However, every divorce is unique, and it is possible for spousal support to come into play in any Florida divorce in which the spouses have vastly different earning power.

Regardless of what your divorce may involve, you and your soon-to-be ex-spouse must resolve property division and various other financial issues to complete your divorce. Johnson O’Keefe can provide the communicative and detail-oriented legal representation you need on your side to approach your case with greater confidence and peace of mind.

If you have questions about property division in Florida divorce or need to speak with a Florida property division attorney about your situation, contact Johnson O’Keefe to schedule a consultation with our team.

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