Aggressive Representation for Divorce Property Division
Dividing assets and debts is often the most contentious part of a divorce. Disputes over homes, vehicles, retirement funds, and other valuable assets can drag out a divorce and make the process extremely challenging. Florida law requires assets to be split equitably, but that does not mean they will be divided equally. Because of this stipulation, you must have a skilled family law attorney to represent your interests.
At The Davies Law Firm, LLC, our legal team has successfully represented many clients across Central Florida with divorce and family law cases. Our founding attorney, Kathleen Davies, is a proven negotiator and litigator with more than thirty-five years of legal experience. Our office in Cocoa, Florida, has helped countless clients retain their fair share of marital assets by advocating on their behalf.
Understanding Florida Equitable Distribution
Under Florida law, there are two types of assets and liabilities: marital and nonmarital. Only marital property is subject to equitable distribution. Marital property includes any assets acquired and any liabilities incurred during the marriage through marital funds or marital labor. Examples of potential marital assets and liabilities are savings, pensions, retirement accounts, vacation homes, investment property, stocks and bonds, credit card accounts, mortgages, automobiles, businesses, and auto loans.
Nonmarital assets and liabilities are anything one partner owned or owed before the marriage. This includes gifts from someone other than the spouse during the marriage, and assets acquired through inheritance. Nonmarital assets remain the individual’s property after divorce unless they are commingled with marital assets.
A prenuptial or postnuptial agreement identifies specific assets as nonmarital property and outlines the division of assets and debts in case of a divorce. It protects each spouse’s assets, ensuring they do not become part of a divorce settlement. If the document is deemed valid by the court, it is enforceable.
Valuation of the complete inventory of personal assets can get complicated, particularly in high-asset divorces. During the discovery process of a divorce, it is necessary to review income tax returns, bank account statements, loan applications, and credit card statements. Real estate, jewelry, and other items may need to be valued by an expert appraiser. Businesses may require a business valuation specialist. At The Davies Law Firm, LLC, we work with highly regarded forensic accountants and other specialists to ensure the proper valuation of all assets.
A divorce requires full disclosure of both parties’ assets, incomes, expenses, and liabilities. Unfortunately, some spouses go to great lengths to cover up financial information. Hiding assets during a divorce to circumvent the equitable distribution process is unlawful. It is viewed as contempt of court, and a judge may order sanctions for the non-compliant party.
Spouses often attempt to hide assets such as bank accounts and investments or by gifting property to a family or friend with a promise to get it back after the divorce. Business owners may not finalize lucrative deals until the divorce is finalized, or they may pay salaries to those not working for them.
Factors Considered in Fair Division of Assets and Debts include, but are not limited to:
- The length of the marriage
- Whether alimony is awarded
- If minor children are living in the home
- Whether one spouse contributed to the other’s education
- Each spouse’s educational attainment and employability
- Whether one spouse stays home to care for the children
- Both spouse’s age, health, and economic circumstances
- Whether there is a valid prenuptial or postnuptial agreement
- The marital misconduct of the spouses
The Davies Law Firm, LLC protects Your Financial Interests
As with all divorce issues, we adopt a solutions-oriented approach to property division. We listen carefully to each client’s objectives, prioritize them and create a strategy to accomplish those goals. If you suspect your spouse is concealing assets, we have the resources and experience to protect your interests.
When You Need Us, We are Here to Listen
We are ready to help you resolve your divorce and property division matters. Attorney Kathleen Davies answers our client’s questions and discusses their concerns during and after office hours. Working with an experienced family law attorney can make a significant difference in the outcome of your divorce. Call The Davies Law Firm, LLC, at 855-688-4713 to schedule a Free Consultation. Our office is located in Cocoa, Florida, and we represent clients in Brevard, Orange, Seminole, and Osceola Counties.