Who Gets What After A Divorce
Where divorce is concerned, dividing up property can be one of the most contentious issues. Think of your own belongings and property. Chances are you feel pretty connected to a few things. During a divorce, things can get pretty heated if both parties feel attached to particular assets, whether it is a piece of property or belonging, and whether the attachment is based on sentimental or financial reasons. In fact, in a recent blog, we discussed the new trend of considering “pets” the subject of visitation rather than property, as was previously the law. This is the trend throughout the country and will impact all states in the new future.
In Florida, we identify all marital assets (and liabilities), on the date the divorce proceeding is filed; however, these assets and liabilities can be valued and divided on different dates from one another and not necessarily on the date the divorce is filed. There are myriad other legal rules and principles that will impact the division of assets and liabilities in Florida, some of which will be discussed herein.
Fortunately, divorce attorneys, like the skilled team at the Lasky Law Firm can help you navigate the process of deciding who gets what in your divorce. If you have assets and liabilities and you are concerned about how these will be distributed in your divorce, we can help. First, let’s take a look at how property division works in Florida.
How is Real Property Divided in Florida
The largest assets and liabilities divided in a divorce are generally those associated with the real property, including the marital residence, owned during the marriage. To divide real property, and all assets and liabilities in Florida, we begin with the proposition that all assets and liabilities will be equally distributed between the parties.
From there, the court can deviate from this “equal distribution” after reviewing several factors, including but not limited to, (a) the respective incomes of the parties; (b) if either party has special needs; (c) if there are children in the marriage, and if so, how many; (d) if any child has a special need; and (e) any non-marital assets and liabilities of either party. Again, this is not an exhaustive list, but rather, just a few factors to consider.
Also, in some cases, the court has discretion to maintain a marital residence with one parent or the other where there are minor children involved in the divorce. The goal of the court is to maintain the children in the home to give them consistency and security during the stressful process of a divorce. Of course, in these situations, there will be conditions to this “exclusive use and possession of the marital home,” but if the conditions are met, the possession will continue until the youngest child reaches majority and graduates from high school. At that time, the home will be sold consistent with a formula established by the court to determine how the accrued equity in the home will be divided.
If there are no minor children of the marriage and/or if certain other conditions are met, then all real property can be the subject of a partition action. A partition action is one where either parent can force the sale of the real property designated as marital property.
This is just a brief look at real property division in Florida. It can be a very complex and difficult aspect of any divorce.
If you are thinking about divorce and how your property will be divided, you may want to contact the experienced team at the Lasky Law Firm. Our Jacksonville divorce attorneys are skilled in helping facilitate the equitable division of property to help keep the divorce process as hassle-free as possible. Give the Lasky Law Firm a call today to schedule a consultation. We have a proven track record of helping couples throughout the community settle their divorce arrangements. Call us today at 904-399-1644.