In the state of Florida, when a married couple files for divorce, all of their marital assets and property are divided in a fair and equitable manner. The court will work to ensure the asset division process is fair; however, equitable distribution is not always the same thing as equal distribution. Any of the assets that were secured before the marriage will usually be given to the original owner and not included in the distribution process.
Factors that Impact the Asset Division Process
Some of the factors that are used by the court to determine how assets will be divided include
- how long the marriage lasted
- the contribution of each of the spouses to the debts and assets that were incurred during the course of the marriage
- the financial role that one spouse played in helping to forward the other person’s career aspirations and education
- if one spouse hid assets in hopes of not having to include it in the divorce process
If a child is involved, then the court will consider what is in the best interest of the child with regard to the division of assets. This may also play a factor in who retains the marital home. There are other factors the court will consider as well to determine if alimony or child support payments need to be made.
While the court can make the final decision for couples who cannot agree on how to divide their assets, they also have the option to do this on their own. If the couple is able to come to an asset division agreement themselves, or with the help of their family law attorneys, they can avoid having to go to court, declare all their assets and deal with the stress and hassle of allowing someone else to figure out their marital mess.
Why Hiring an Attorney for Asset Division is a Good Idea
The fact is, there are some people who believe that they can handle the asset division process on their own. However, if the divorce is a contentious one, it is best to retain legal services. This is because an attorney understands the law and can help ensure their client’s best interests are upheld during the process.
There are some couples who get downright personal when it comes to asset division and even child custody. Without the services of a neutral third-party, such as an attorney, determining how to divide these assets can become a real nightmare. The good news is that this doesn’t have to be the case.
If you need help with your divorce, or have questions about the asset division process in Florida, hiring a divorce attorney is going to be the best course of action. Learn more about asset division by calling The Carolan Family Law Firm, P.A. at 305-358-2330 today.