Florida Divorce Law - Property Division

the representation of Florida divorce is possible if you have accurate information about their rights, law and court procedures. Need to get it right the first time. Modified Final Judgement is not always possible. If you made a mistake it can cost thousands of dollars for attorneys' fees to fix it. This article will give you information about your property rights in a Florida divorce.

If you are not educated about their rights, to accept much less than what you are entitled. A recent divorce had this forum posting:

When I divorced, I did not fight for their business. He makes $ 200k/yr and I was a stay at home mom. I have had premarital IRA, but I cashed it at a time when his business takes money. Now I 2k/mo alimony, but I want to buy a house and have enough money. Someone told me that if I have a boyfriend to move, I will lose my alimony. Help!

By not including the value of the marriage business in a fair distribution, this woman shortchanged themselves and their children. Now she is in distress. Do not let that happen.

Is there a formula for equitable distribution?

"equitable distribution", Florida property division process begins with a 50/50 split of marital assets and debts, but in some situations as Split it can not be fair and equitable. There is no set formula for unequal division. For example, one of May you decide to take more money to the loans on the property because you can afford to do. Unequal parts is unusual when the case goes to trial.

Florida courts have ordered an unequal division if

One of the spouse is disabled, and the other is employed One of the spouses is required to care for disabled child One of the spouse speaks little English, had no formal education and never worked One of the spouses has not worked for years, others are nearing retirement

As you can see, the situation of unequal distribution is not typical of the situation. Because Florida law begins with a 50/50 split, "marital property and marital debts" and unequal parts are unusual, most couples will use the 50/50 formula.

The "Double ?"

"< I> Marital property " or " marital property "includes everything you spend money at the time of marriage and still have - the things such as houses, cars, boats, televisions, dishes. your "stuff" is called personal property. If you own a property / house / dirt, it's called "real estate ."

"< I> Marital Debts "or" marital obligation ", such as marital property, the loans are signed during marriage - things like mortgages, student loans, credit cards. With few exceptions, all you get or borrow a "marriage" from the time you said "I", while the log Marital Settlement Agreement or file Petition for Dissolution of Marriage, whichever comes first.

If the property is titled in one spouse's name, can still be marital property if purchased with double the money. For example, some couples have every car in the individual names. If these cars were purchased / leased during the marriage, they are "marital property." Even some non-marital property can become marital as explained in nastavku.Forum writer missed this opportunity in their case.

Action Tips:

Your first step is to list all of your marital property on a map. Show the current values​​, what and who owes you for it. Create a column to show who is on the title or deed, and another to show which of you will get everyone in the divorce. This is the time, but it will give you all the information you need for your financial statements and the trial and Marital Settlement Agreement.

In your chart, if you own property, have credit card debt or other loans taken, you have the common property, you must specify all of its assets (including all owners) and all of its debts with some identifying information for them. With concerns about identity theft, to display only the last four digits of your credit and account numbers in the Financial Statement or marital settlement agreement. For real estate, give the address and complete legal description of his work on the list marked with your name and case number if you already have.

common-law means that it is mine, right?

Well, maybe. Non-marital assets and liabilities belong to only one of you and are not divided in equitable distribution process. There are five categories of non-marital assets / liabilities by Florida law:

an asset or liability that you had before marriage. heredity and other gifts, even during the marriage. Any income received from non-marital gifts unless they relied on or used this income as a marital asset. property is defined as non-marriage in a written agreement (pre or post wedding bridal consultation) obligations under forgery of a spouse of another spouse's name druga.Kovanje husband is responsible for this obligation.

In deciding the equitable distribution, the court will take into account the "marital" assets and liabilities. Non-marital assets come into play primarily with child support determination.

Be careful. "common-law" can be "married". When you are out of marital assets / liabilities, but they are mixed with marital property, laying her inheritance to check into a joint marital account, for example, May you have a "co-mingled" the property, so it is not considered common-law more. Forum writer changed the common-law retirement account into marital property when she uses it in the family business.

non-marital/marital Another problem can arise when you use a non-marital assets to generate money during the marriage. For example, owned a house with a mortgage before you got married. Although married, you are using paycheck to pay taxes, and some of the mortgage. When a rented house after marriage, and rental payments deposited into a joint marital account. There is a special formula for giving you credit for your original investment. This area can be a minefield and you want some expert advice if you two can not decide in a fair way to divide the property is mixed together.

can be presented in a Florida divorce. To ensure that marital property and debt divided fairly, you know what the object is "married" and what is its value. Charting all your assets will help in the process of divorce, Florida and will make calculating the equitable distribution of property or the division easier.