Tag Archives: Division of Assets
11 Benefits of Florida Collaborative Divorce
We know navigating the waters of divorce can be daunting and emotionally charged. For those looking for a more amicable solution, however, Florida collaborative divorce offers a pathway to a more respectful and cooperative separation. With the help of your experienced family law attorney, this approach focuses on mutual agreement and constructive dialogue, setting… Read More »
Ways You Can Protect Your Children From a Previous Marriage
Have you found in your lifetime that you have experienced marriages, births, divorces, deaths, and separations? Have you found that these important events played an important role in your daily life? Have you thought about them in regard to your Florida estate planning? When you think about the significant moments in your life and… Read More »
What happens if the parties in a divorce cannot agree on the value of their assets?
Normally, the court is going to divide the marital assets and liabilities so the parties have an equal distribution of those marital assets and liabilities. Case law is very clear that if the court decides to make an unequal distribution of the assets and liabilities there has to be a compelling reason. Therefore, it… Read More »
How assets and liabilities are valued in a divorce?
How does the court determine how much the assets are worth? Or how much the liabilities cost? This is why valuation of assets and liabilities is an important issue in a divorce. There can be three valuation dates of marital assets and liabilities: – First is the date of separation of the parties. This is… Read More »
What happens to your home in a divorce?
Marital homes are usually one of the largest assets, and this is a problematic one since it is not a divisible asset like a pension or checking account. The court has the power to award one spouse exclusive use and possession of the marital home. This generally happens if the primary caretaker of the… Read More »
How are assets and liabilities divided in a divorce?
After a court identifies the characteristic of all assets and liabilities, the court must distribute those assets and liabilities fairly after considering the following factors: The contribution to the marriage by each spouse. The economic circumstances of the parties. The duration of the marriage. Any interruption of personal careers or educational opportunities of either… Read More »
Difference between marital assets and liabilities – and non-marital assets and liabilities
Equitable distribution deals with the dividing up of assets and liabilities. The court must first identify what is a non- marital asset and liability and what is a marital asset and liability. A marital asset or liability is defined as being incurred during the marriage, either individually or jointly. In addition to this, enhancement… Read More »
The discovery process in divorce
After the initial divorce petitions are filed, the parties then start a process called “discovery.” During discovery, each spouse must disclose certain evidence, called mandatory disclosure. This includes things such as a financial affidavit, income tax returns, pay stubs, loan applications and deeds, bank statements and more. In addition, one can request other items… Read More »
A clearer financial picture during divorce
During a divorce, it’s very important to have a clear picture of each party’s financial status, and in addition to the Financial Affidavit, there are other ways to ensure the other party produces all financial documentation. For one, there are written questions, called “interrogatories,” which ask questions about a party’s education, assets and liabilities…. Read More »
The discovery process in divorce
After the initial divorce petitions are filed, the parties then start a process called “discovery.” During discovery, each spouse must disclose certain evidence, called mandatory disclosure. This includes things such as a financial affidavit, income tax returns, pay stubs, loan applications and deeds, bank statements and more. In addition, one can request other items… Read More »
