Coral Springs & Boca Raton Equitable Distribution Lawyer
Florida Property Division Lawyers With Extensive Experience Handling Equitable Distribution and Business Valuation
At HVW Law Group, our Coral Springs equitable distribution lawyers are committed to providing top quality, effective guidance. Using collaborative principles to help our clients find amicable solutions, we are always ready to work aggressively to protect your rights.
You deserve personalized representation. If you have questions about equitable distribution, business valuation, or property division, we can help. To set up a strictly private consultation with an experienced Florida divorce lawyer, please contact us today.
Understanding Florida’s Equitable Distribution Statute
The most important thing to know about property and asset division in Florida is that the state uses an equitable distribution standard (Florida Statutes § 61.075). An “equitable” distribution is not always an “equal” distribution. Instead, an equitable division of property is a fair division of property. The specific circumstances of the marriage and divorce will always be considered. While a 50-50 split is appropriate in many cases, there are also plenty of exceptions.
Separate Property vs. Marital Property
In Florida, all marital assets and marital debts are subject to equitable distribution. However, separate property is not subject to distribution during divorce.
For example, if you purchased certain property before your marriage and you maintained that property as separate throughout the course of the marriage, it is still yours—your former partner does not have a claim to your separate property.
Of course, in practice, determining what qualifies as marital property is not always so straightforward. There are often sharp disputes over who owns what. If you have questions about separate property or joint property, our South Florida equitable distribution attorneys can help.
Equitable Distribution for Business Owners: Valuing a Company
For business owners and their spouses, dividing assets and debts can be challenging. Depending on the specific nature of your marriage, it is possible that both partners may have an ownership claim to business interests. Indeed, the company may qualify as marital property, meaning a business may be subject to equitable distribution.
If you or your spouse is a business owner and you are getting divorced, it is imperative that you get a comprehensive business valuation. You cannot effectively protect your company and deal with the divorce unless you know the precise value of the business. Our Coral Springs, FL equitable distribution attorneys represent business owners and their spouses.
What Factors Affect Property Division?
In applying the equitable distribution standard to any specific case, Florida courts give considerable discretion to couples to make their own agreements. That being said, if an agreement cannot be reached, a judge may need to decide who gets what. Florida law empowers courts to consider a wide range of different factors, including:
- The duration of the marriage;
- The current/future financial prospects of each party;
- Contributions to marriage/family made by each spouse; and
- Whether either partner intentionally wasted or tried to conceal assets.
Call Our Coral Springs Equitable Distribution Lawyers Today
At HVW Law Group, our South Florida divorce attorneys have extensive experience handling complex property division cases. If you have questions or concerns about equitable distribution, we can help. For a fully confidential, no obligation consultation, please contact our legal team today. With office locations in Coral Springs and Boca Raton, we serve clients in Palm Beach County and Broward County.