Division of Assets
Orlando Division of Assets Attorneys
In a divorce, one of the most frustrating issues is determining how you are going to split your property and debt. Florida law requires the division of assets, property and debt accumulated during the marriage be divided under an Equitable Distribution standard. In applying equitable distribution, Florida courts will begin with the premise that distribution should be equal, unless there is justification for an unequal distribution based on all relevant factors. These factors include:
- The contribution to the marriage by each spouse, including the contributions to the care and education of the children and services as homemaker.
- The economic circumstances of the parties.
- The duration of the marriage.
- Any interruption of personal careers or educational opportunities of either party.
- The contribution of one spouse to the career educational opportunity of the other spouse.
- The desirability of retaining any asset, including an interest in a business, corporation, or professional practice, intact and free from any claim or interference by the other party.
- The contribution of each spouse to the acquisition, enhancement, and production of income or the improvement of, or the incurring of liabilities to, both the marital assets and the non-marital assets of the parties.
- The desirability of retaining the marital home as a residence for any dependant child of the marriage.
- The intentional dissipation, waste, depletion, or destruction of marital assets after the filing of the petition or within 2 years prior to the filing of the petition.
- Any other factors necessary to do equity and justice between the parties.
Equitable distribution of assets and liabilities can be a very daunting task for the court to handle, and could require extensive hearing time prior to trial. Another way to resolve the division of assets and liabilities is to work out a marriage settlement agreement which allows the parties to detail how their property will be divided.
The Orlando attorneys at Longwell Lawyers work hard to assist you and identify the value of each asset, as well as add up the marital debt. We may be required to use a forensic accountant or property appraiser in order to get actual values of your assets and liabilities. Once we know the value of the assets and liabilities that you accumulated during the marriage, we can work together to create your “wish list” for how you would prefer to divide your assets and liabilities in your divorce.
Longwell Lawyers have division of assets attorneys who represent many people in Central Florida who own significant assets, including successful business, highly-valued real estate, and valuable collections. Our goal is help you through this difficult time and determine the value of your property, divide your assets and liabilities, all the while maintaining stability for your family.