Boca Raton Equitable Distribution Lawyer
Florida Family Law Attorneys with Extensive Experience Negotiating Equitable Distribution in Divorce
One of the most disputed issues in a Florida divorce involves the dividing of marital assets. The property settlement phase of a divorce can be simple, or it can turn into a lengthy court battle. Sometimes, the issue isn’t so much that the spouses are fighting over who gets what, but over what the asset is worth. Some marital assets can be complex to place an accurate value on. This is one of the reasons why it’s so important to retain a Boca Raton equitable distribution lawyer.
At Williams & Varsegi, LLC, we are a full-service Florida family law firm. We handle all aspects of your divorce, including property settlement agreements. This can involve business valuation, property division, and more. If you have questions about equitable distribution in Florida, contact us today to set up a private consultation.
Basics of Florida’s Equitable Distribution Law
Equitable distribution is the legal theory that determines how marital assets and liabilities are divided during a divorce in Florida. Equitable distribution means just that, equitable and fair. It does not necessarily mean an equal 50/50 split. That would be more in line with a community property state where assets and divided right down the middle.
When deciding how to divide marital assets, the circumstances of the marriage and the divorce will be factored in. In many cases, an overall 50/50 split may be appropriate, but there are plenty of exceptions where a different percentage split is more appropriate.
Determining Marital vs. Separate Property
Determining what are marital assets versus separate assets can be challenging. Separate assets are not divisible during a divorce. But not all assets that start out as separate remain that way at the time of divorce. For example, if you had property before you were married and you maintained it separately throughout your marriage, it will still be yours. However, if marital funds were used throughout the marriage to maintain or make improvements, the court may determine that it is marital property.
In some cases, a spouse might try to get the other one to believe something is a separate asset to avoid dividing it. Some spouses may even try to hide assets to keep them from being divided. This is where having a knowledgeable attorney on your side is important.
Valuation of Complex Assets
Do you and your spouse own a business? What about rare antiques, collectibles, or artwork? Have you been investing a lot in stocks and bonds? If the answer to any of these questions is yes, you have a complex asset portfolio. In order to obtain an accurate valuation, we may need to hire an expert. There are professionals who specialize in this type of work, and they are invaluable in complex cases.
Contact a Boca Raton Equitable Distribution Lawyer
There is a lot that goes into property division during a Florida divorce. Don’t accidentally give away your rights and what you deserve by listening to what your ex says. Speak with a skilled Florida equitable distribution attorney on your own. Contact Williams & Varsegi, LLC, today to schedule an initial consultation.